The European Union’s expanding network of trade agreements is delivering tangible benefits for European businesses, helping them diversify export markets and ease strategic dependencies
amid global geopolitical tensions, according to the European Commission’s latest Annual Report on the Implementation and Enforcement of EU Trade Policy.
The fifth edition of the report, covering 2024 and the first half of 2025, highlights how preferential trade agreements are increasingly vital to the EU’s economic resilience and competitiveness.
Exports growing faster among trade partners
In 2024, EU goods exports to the bloc’s 76 preferential trade partners grew at twice the rate of exports to non-FTA markets—1.4% compared with 0.7%. Canada stands out as a success story: since the EU-Canada trade agreement entered into force in 2017, EU exports to Canada have surged by 51%, compared with 20% growth in exports to the rest of the world.
Europe’s agri-food sector also posted record-breaking results. Exports reached €235 billion in 2024, up 2.8% from 2023. Sales to preferential partners increased by 3.6%—more than double the growth recorded in non-FTA markets.
Trade in services shows a similar trend. Services trade with preferential partners reached €1.3 trillion in 2023, rising 4.5%, compared with just 1.2% growth with countries outside the EU’s trade network.
Diversification and supply chain stability
The data also shows that trade agreements are helping EU industries manage supply chain disruptions. Increased exports to Mexico, Norway, Switzerland and the United Kingdom helped offset losses in sectors affected by EU sanctions on Russia, such as vehicles, automotive parts and electrical machinery.
On the import side, stronger energy and raw materials links with partners like Algeria, Kazakhstan and Norway helped replace Russian supplies of natural gas and liquefied gas. Copper imports from Chile also filled market gaps created by sanctions.
Barrier removal and new agreements expand EU reach
Eliminating obstacles to trade remains a core priority. In 2024 alone, the Commission succeeded in removing 44 trade barriers in foreign markets, bringing the total to 186 since the appointment of the EU’s Chief Trade Enforcement Officer in 2020.
The EU continues to broaden its global trade footprint. Two new agreements entered into force in the past year: a free trade agreement with New Zealand and an Economic Partnership Agreement with Kenya. This brings the EU’s active trade agreements to 44, covering 76 preferential partners.
Looking ahead, Brussels concluded negotiations this year with Indonesia and has submitted proposals for agreements with Mercosur and Mexico for final approval. Negotiations are ongoing with India, Malaysia, the Philippines, Thailand and the United Arab Emirates as the EU seeks to deepen its global economic partnerships.