List Of German Trade Agreements
Altmaier said: “The EU-Japan Economic Partnership Agreement is an important signal for free and fair trade.” Mr. Altmaier: “By modernizing our trade agreement with Mexico, we are sending a strong message for free and fair world trade.” 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. As a result, the EU is Australia`s third largest trading partner. The EU is New Zealand`s second largest trading partner. In 2019, the volume of trade amounted to more than 9 billion euros. Agricultural products account for the largest share of New Zealand`s exports to the EU, while the EU mainly exports finished and industrial products to New Zealand. In 2019, Germany`s trade surplus with New Zealand amounted to 2.7 billion euros and EU companies accounted for more than 10 billion euros of foreign direct investment in New Zealand. Whenever a country is particularly good at a field, its products and services generally seek their way to customers across national borders (and find them). This is the birth of a new export success.
The Swiss export their watches all over the world; China stands out in e-commerce; and the United States is particularly good at trade in services. Everyone does what they do best. That is how world trade works; That`s how everyone benefits. A free trade agreement between the EU and India can help remove existing barriers and give new impetus to our bilateral cooperation. India`s population is the second largest in the world, making it a very important trading partner for German companies. However, the federal government and the European Commission insist that any agreement must be comprehensive and ambitious. While negotiations for a free trade agreement began as early as 2007, sharp differences in the expectations of both sides have brought the talks to a standstill since 2012. Moreover, so-called intra-industrial trade – trade in the same products – plays an important role in world trade, particularly in trade between industrialized countries. Germany, for example, produces cars and exports them to Sweden. The cars are also produced in Sweden and find their customers in Germany. This is due to product differentiation and the diversity of consumer preferences.
Nevertheless, governments sometimes find it difficult to reduce barriers to trade, as competition in their own markets has arised from the opening up of boarders. Overall, the macroeconomic impact of trade is generally positive. Many scientific studies show that trade liberalization and economic growth are positively correlated. More competition essentially means more supply, pressure on innovation and lower prices. However, trade can also have redistributive effects. Not all companies will be able to take an interest in the new environment. It is all the more important that states invest in training, research and development and that social systems are well equipped to reduce adaptation costs.