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European Union

The European Union (EU) is the world’s largest trading bloc, with a single market that allows free trade among its member countries. The largest export market of manufactured goods and services globally, the EU represents the major import market for some 100 countries. Members of this political and economic community account for populations totalling some 447 million spread over an area of more than 4.23 million sq. km. The Nobel Peace Prize was awarded to the EU in 2012 for advancing peace, reconciliation, democracy, and human rights. There are currently (2020) 27 EU members representing much of the continent and what was once a solely economic union now covers policy areas including climate, the environment, health, external relations, migration, security and justice. Nineteen of the members use the euro as official currency and are collectively known as the Eurozone. A name-change from European Economic Community (EEC) to European Union (EU) in 1993 was made in recognition of this widening of concerns. Most of the EU states (and a few non-EU countries) are members of the  Schengen Area which has no internal borders. The EEC was set up in 1958 as a partnership between Belgium, Germany, France, Luxembourg, Italy and the Netherlands. The United Kingdom was a member of the original bloc and its successor from June 1973 until the end of January 2020 and the former partners are now considering their future trade relationship during an eleven-month transition period.

What trade deals are there with other countries and economic unions?

EU - Andorra Customs Union (from 01/01/1991)

European Single Market (SM) (from 01/01/1993)

EU - Sri-Lanka Co-operation and Partnership Agreement (from 01/04/1995)

EU - Türkiye Customs Union (from 31/12/1995)

EU - Faroe Islands Agreement (from 01/01/1997)

EU - Palestinian Authority Interim Association Agreement (from 01/07/1997)

EU - Tunisia Association Agreement (from 01/03/1998)

EU - Armenia Partnership and Cooperation Agreement (from 09/09/1999)

EU - Morocco Association Agreement (from 01/03/2000)

EU - Israel Association Agreement (from 01/06/2000)

EU - Mexico Global Agreement (from 01/10/2000)

EU - San Marino Customs Union (from 01/04/2002)

EU - Jordan Association Agreement (from 01/05/2002)

EU - North Macedonia Stabilisation and Association Agreement (from 01/04/2004)

EU - Pakistan Co-operation agreement (from 29/04/2004)

EU - Egypt Association Agreement (from 01/06/2004)

EU - Chile Association Agreement and Additional Protocol (from 01/03/2005)

EU - Algeria Association Agreement (from 01/09/2005)

EU - Lebanon Association Agreement (from 01/04/2006)

EU - Albania Stabilisation and Association Agreement (from 01/04/2009)

EU - Pacific States Interim EPA (from 20/12/2009)

EU - Montenegro Stabilisation and Association Agreement (from 01/05/2010)

EU - Central America Association Agreement (from 01/08/2013)

EU - Serbia Stabilisation and Association Agreement (from 01/09/2013)

EU - Bosnia and Herzegovina Stabilisation and Association Agreement (from 01/06/2015)

EU - South Korea Free Trade Agreement (from 01/07/2015)

EU - Kosovo Stabilisation and Association Agreement (from 01/04/2016)

EU - Georgia Association Agreement (from 01/07/2016)

EU - Moldova Association Agreement (from 01/07/2016)

EU - Canada Comprehensive Economic and Trade Agreement (CETA) (from 21/09/2017)

EU - Eswatini (SADC) Economic Partnership Agreement (from 05/02/2018)

EU - Lesotho (SADC) Economic Partnership Agreement (from 05/02/2018)

EU - Mozambique (SADC) Economic Partnership Agreement (from 05/02/2018)

EU - Namibia (SADC) Economic Partnership Agreement (from 05/02/2018)

EU - South Africa Economic Partnership Agreement (from 05/02/2018)

EU - Botswana (SADC) Economic Partnership Agreement (from 05/02/2018)

EU - Japan Economic Partnership Agreement (from 01/02/2019)

EU - Eastern and Southern Africa States free trade agreement (from 07/02/2019)

UK - EU Trade Deal (from 01/01/2021)

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Member Countries

Country	Population (2018)	GDP Growth (2021, %)	Date Joined
Austria	8,751,820	4.4840	01/01/1995
Belgium	11,498,519	6.2447	25/03/1957
Bulgaria	7,036,848	4.1779	01/01/2007
Croatia	4,164,783	10.4489	01/07/2013
Cyprus	861,016	5.5127	01/05/2004
Czechia	10,625,250	3.3427	01/05/2004
Denmark	5,754,356	4.6934	01/01/1973
Estonia	1,306,788	8.3495	01/05/2004
Finland	5,542,517	3.4745	01/01/1995
France	67,539,098	6.9636	25/03/1957
Germany	82,293,457	2.8926	25/03/1957
Greece	11,142,161	8.3361	01/01/1981
Hungary	9,688,847	7.0966	01/05/2004
Ireland	4,803,748	13.4787	01/01/1973
Italy	59,290,969	6.6438	25/03/1957
Latvia	1,929,938	4.4821	01/05/2004
Lithuania	2,876,475	5.0035	01/05/2004
Luxembourg	590,321	6.8866	25/03/1957
Malta	432,089	9.4135	01/05/2004
Netherlands	17,084,459	5.0359	25/03/1957
Poland	38,104,832	5.7326	01/05/2004
Portugal	10,291,196	4.8812	01/01/1986
Romania	19,580,634	5.8797	01/01/2007
Slovakia	5,449,816	3.0205	01/05/2004
Slovenia	2,081,260	8.1146	01/05/2004
Spain	46,397,452	5.1295	01/01/1986
Sweden	9,982,709	4.8006	01/01/1995

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