The European Union is a major trade power. In economic terms, it is the world's biggest trading block and it is home to nearly half a billion consumers, with a high average level of income. As such, it is a very attractive market for exporters in other countries. In political terms, it has a decisive influence in shaping the world trade architecture. On trade matters, it speaks with one voice: the European Commission acts as single negotiator on behalf of the twenty seven Member States of the European Union. Also, the EU is the most important donor of both aid and preferential market access to the developing world.

Core principles of the EU's common trade policy

The EU's common trade policy is deeply rooted in a few core principles: liberalisation, open markets, rule of law, sustainable development. On that basis we have played a leading role in the WTO, built up a network of preferential trade relations and set up a number of autonomous trade policy instruments, such as for instance in the area of trade defence. As a result, the average weighted level of customs duties on industrial goods entering the European Union is just 4%. In agriculture, the EU's average tariff – including bilateral and preferential arrangements – is just 10%. A country such as Brazil exports some 37% of its agricultural products to the EU (thanks to MFN Tariff Rate Quotas) and Africa exports more to the EU than to the rest of the OECD taken together.