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The European Union has concluded free trade agreements (FTAs) [1] and other agreements with a trade component with many countries worldwide and is negotiating with many others. [2] The European Union negotiates free trade deals on behalf of all of its member states, as the member states have granted the EU has an "exclusive competence" to ...
The Fiscal Compact [69] [70] (formally, the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union), [71] is an intergovernmental treaty introduced as a new stricter version of the Stability and Growth Pact, signed on 2 March 2012 by all member states of the European Union (EU), except the Czech Republic, the United ...
The EU has free trade agreements to varying levels with most other European countries. EU Single Market. The EU shares its single market with three EFTA members via the European Economic Area agreement, and the remaining EFTA member—Switzerland—via bilateral agreements. EU Customs Union. The European Union Customs Union is a customs union ...
As of 2025, the Schengen Area consists of 29 countries, including four which are not members of the European Union (EU). Two of the non-EU members – Iceland and Norway – are part of the Nordic Passport Union and are officially classified as states associated with the Schengen activities of the EU. [15]
The European Free Trade Association (EFTA) was created to allow European countries to partake in a free trade area with less integration as within the European Communities (later European Union). Most of the countries initially in EFTA have since joined the EU itself, so only four remain outside, Norway , Iceland , Liechtenstein and Switzerland .
The European Economic Area (EEA) was established via the Agreement on the European Economic Area, [4] an international agreement which enables the extension of the European Union's single market to member states of the European Free Trade Association (EFTA). [5]
The European Commission Directorate-General for Trade lists the 10 largest trading partners of the European Union (EU) with their total trade (sum of imports and exports) in billions of euros for 2020 and 2021. With the United Kingdom’s withdrawal from the EU, the United Kingdom entered the top 10 partners of the EU-27.
The European Union Customs Union (EUCU), formally known as the Community Customs Union, is a customs union which consists of all the member states of the European Union (EU), Monaco, and the British Overseas Territory of Akrotiri and Dhekelia. Some detached territories of EU states do not participate in the customs union, usually as a result of ...