Germany and Vietnam already have close trade relations. The EU-Vietnam trade agreement will give it a big boost. The EU recently published a detailed review of “the impact of EU trade agreements on the agricultural sector.” The document is published, in its own words, in a context of growing protectionism within the EU and its main trading partners. With an in-depth review of some of the EU`s key free trade agreements, the report aims to support the debate on the pros and cons of trade liberalization. The content of trade agreements has changed over time: the European Union (EU) free trade agreements negotiated in the late 1990s with Mexico and Chile have mainly focused on reducing tariffs. Recent trade agreements, such as those between the EU and South Korea, Vietnam, Singapore, Canada and Japan, also cover the so-called WTO areas. These are issues that have not yet been discussed or have been the subject of limited debate, including competition rules, intellectual property protection, public procurement and investment. With a population of 83.2 million, Germany is the largest consumer market in the European Union. The importance of the German market goes far beyond its borders.
Some of the world`s largest specialty events, such as MEDICA, the Hanover show, Automechanika and ITB Tourism, have been the subject of a huge volume of trade in Germany, taking into account the fact that most of the 2020 shows have been cancelled or postponed due to the COVID-19 pandemic. The volume of trade, the number of consumers and the geographical location of Germany at the centre of the European Union make it a cornerstone around which many American companies wish to develop their European and global expansion strategies. Malaysia: Discussions on the establishment of a free trade agreement between the EU and Malaysia began in October 2010. Negotiations have stalled since the end of round 7 in 2012. The European Commission is working to resume these discussions. Demographic changes and the resulting labour constraints, labour market regulation and rising energy prices due to the shift from coal and nuclear power to renewable energy sources (“energy transition”) are likely to hinder competitiveness. Experts also fear that international trade tensions and the global economic impact of the COVID pandemic could seriously damage Germany`s export-oriented economy. In addition, EU Member States have signed a large number of investment contracts.
They protect foreign investors from political risks such as discrimination and expropriation. In the past, these agreements have generally been signed by two states (some of which are multilateral) and negotiated separately from trade agreements. The 2009 Lisbon Treaty gave the EU responsibility for negotiating such treaties for the EU as a whole and was an integral part of free trade agreements (for example). B with Canada). Subsequently, the European Court of Justice clarified that investor-state arbitration procedures were not within the exclusive jurisdiction of the EU and that, therefore, these agreements must be ratified by all Member States before coming into force. In order not to overload free trade agreements with lengthy procedures for ratifying investment protection chapters, the EU has begun to separate investment protection from free trade agreements whenever possible. In 2019, the volume of trade between the EU and Australia amounted to more than 53 billion euros, with a trade surplus of almost 18 billion euros for the EU. EU exports to Australia are mainly manufactured goods, while Australia exports mineral resources and agricultural products to Europe in particular.
EU companies provide around 20 billion euros in commercial services to Australia and invest around 160 billion euros in that country.