The EU and the WTO

Here are the most important characteristics of the European Union trade:

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• It is the World’s largest single market area, where people, money, goods and services can move freely.

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• The European Union is the biggest exporter of manufactured goods and services and it accounts for 16.5% of the world’s imports and exports. Because of this, it is the biggest trader in the world.

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• Free trade among its members.

 

• World trade is based on the rules of the World Trade Organization, which ensure that obligations between countries and trade agreements are open and fair. So, the European Union trade policy is made exclusively at EU level.

 

• The organ that is in charge of negotiations with the World Trade Organization on behalf of the European Union is the European Commission.​

 

• For the world's poorest countries, EU trade policy looks to combine trade and development. Allowing lower duties, supporting small export businesses, and advising on improvements to governance are just some of the ways trade and development can work hand in hand to ensure the neediest benefit from trade-led growth

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