THE EU AND BRAZIL TRADE AGREEMENT 2
BENEFITS OF THE AGREEMENT 4
EXPORTS AND IMPORTS 6
ANALYSIS OF POSSIBLE MARKET EXPANSION 10
This essay details the free trade between the EU Member States and Brazil, Customs Union. It identifies the benefits of the agreement. In addition, it covers the most important exports and imports between the two parties. Finally, it gives an analysis of possible expansion of market in the region, and it identifies products with commercial. Trade is a basic principle or concept involving multiple parties participating in a voluntary negotiation and the exchange of goods and services for the desired products and services possessed by the other party. In most cases, money is used as the medium of exchange though this is not limited but depends on the agreement between the parties.
The European Union (EU) is a group of European countries participating as one economic unit in the world’s economy using the Euro as one official currency. The EU's objective is to engage in a barrier-free trade zone, and to facilitate economic wealth through creation of efficiency and reliability within its marketplace. It was formed in 1993 with twelve initial members but many additional countries have joined since then. The euro currency has maintained a competitive value and the EU is one of the largest producers in reference to GDP in the world. In order to trade, non-EU and the EU members agree to specific legal agreements in order to conduct trade (Hamilton 1-10).
The EU and Brazil Trade Agreement
The Customs Union agreement links trade between the EU and Brazil, which was established in December 1995, a pursuant to the EU- Brazil Associati...
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... Studies, February, 1-4.
5. Hamilton, D. And Schwartz., “A Transatlantic Free Trade Area, A boost to Economic Growth”, New Direction, The Foundation for European Reform, 2012, 1-10.
6. Kutlay, M., “The Changing Policy of the European Union towards Free Trade Agreements and its Effects on Brazil’s Foreign Trade: A Political Economy Perspective USAK Yearbook of International Politics and Law, 2009 Volume: 2, pp. 117-132.
7. Langhammer, R. Piazolo D. and Siebert, H., Assessing proposals for a transatlantic free trade area, Aussenwirtschaft, 2002, 57: 161-185.
8. Ministry of Economy. 2013, “Brazil’s FTA Policy and FTA with USA”, Transatlantic Trade and Investment Partnership and Its Impacts on Brazil’s Economy, TUSIAD Seminar 6 May.
9. Plaisier, N. K. Berden, J. Francois and A. Mulder., The Impact of Free Trade Agreements in the OECD, ECORYS, Netherland, 2009
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