EU Shifts Trade Focus from Multilateralism to Bilateral Deals, Reshaping Global Commerce
The EU used to focus on making trade deals with many countries at once, but in 2006 they started making more deals with individual countries. This new approach aims to remove barriers to trade and make it easier to buy and sell goods and services. The EU is now signing more Free Trade Agreements (FTAs) to increase trade, investment, and services liberalization. They want to have similar rules with other countries and make it easier for businesses to compete. This change in strategy raises the question of whether the EU is moving away from working with many countries at once to focusing on deals with just one country.