The World Trade Organization (WTO) is an example of a multilateral agreement. The WTO is a global membership group that promotes and manages free trade. The WTO is involved in the ongoing negotiations on new trade agreements, dispute settlement and the implementation of global trade agreements. Free trade between its members was one of the founding principles of the EU. Beyond its borders, the EU is also committed to the liberalisation of world trade. Regional trade agreements (SAAs) are contracts between two or more parties that define the trade rules applicable to all parties. These agreements offer more favourable treatment to trade between the parties than to products imported from outside the region. As a general rule, this agreement entails the elimination or reduction of customs duties on imports from regional partners and creates a free trade area. The current trade agreement, on which the WTO is based, consists of 16 different multilateral agreements signed by all WTO members (150+). Unilateral trade policies can be tariffs, or they can be trade preference programmes, such as the EU`s Generalised System of Preferences (GSP), and can be used as a strategy to support economic growth in developing countries. The EU has concluded trade agreements with countries and regions around the world.
These trade agreements are different and the parties benefit from them in different ways. EPAs are trade and development agreements negotiated between the EU and African, Caribbean and Pacific (ACP) partners involved in regional economic integration processes. The EPA goes beyond traditional free trade agreements, as it focuses on the development of ACP countries, for example.B. taking into account their socio-economic conditions and helps transnational countries to benefit from the agreements. In addition, epAs fully open up EU markets, but allow ACP countries to allow for long transition periods to partially open up to EU imports while protecting sensitive sectors. The Court of Justice of the European Communities has ruled that the provisions of investor-state arbitration (including a special tribunal provided for in certain free trade agreements) fall within the competence of the European Union and its Member States and that, for this reason, their ratification should be approved by both the EU and each of the 28 States.  The European Union (EU) negotiates trade agreements on behalf of all its member states, which means that some member states are prohibited from negotiating individual trade agreements with third countries. The image below shows different types of trade agreements.
A unilateral trade agreement is a treaty that requires only the action or initiative of a state. The agreement benefits only one state and has the potential to help the economies of developing countries. The EU is an example of a regional trade agreement. In short, the EU is a political and economic union that currently consists of 27 Member States. The European Union has concluded free trade agreements (FTAs) with many countries of the world and others with a trade component and negotiates with many others.  These agreements are negotiated by three or more countries. . . .