Over the years, the EU has been moving away from the production of labour-intensive, low-value products in order to specialise in higher-value, branded goods. With its open economy, trade is essential to the EU. To overcome barriers to trade and level the playing field for its businesses, the Union negotiates a number of free trade agreements (FTAs). The EU is also a founder of and key player in the World Trade Organization (WTO).
Authors
- Published in
- Belgium
