You're listening to the European Parliamentary Research Service podcasts on international trade agreements.

In an increasingly global and connected world, securing market access for EU products, services and investments with other major economies is crucial.

That's why the European Union is busy negotiating ambitious trade agreements with countries like the US

and has just signed a deal with Canada.

But how does the EU do this?

And what are the mechanics of international trade deals and the main challenges to their successful conclusion?

Let's get to the heart of the matter. Stay with us. Thanks to the

developments in transported communications, it is now easier to produce, buy and sell goods

and services and invest around the world. This gives European companies the possibility to trade

outside Europe and allows foreign companies to sell their goods and services in the

EU.

So every day Europe exports hundreds of millions of euros worth of goods and imports hundreds

of millions more.

The EU is currently the world's second largest exporter and importer of goods and services,

representing around 15% of global trade.

Which is quite a big slice, especially if we consider that the US and China account for 12% and 10% of global trade respectively.

So why does the EU have such a strong trade position?

Well, there are many reasons, starting with the fact that we have 500 million consumers looking for quality goods.

But we're also the world's largest single

market with a single set of rules and tariffs for imports and exports.

That single market means the EU has also achieved a strong position, since it acts together

with one voice in the global stage, rather than 28 separate trade strategies. The question

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