The article looks at how trade agreements like the EU and NAFTA affect Foreign Direct Investment (FDI) between countries. They used a method called the generalised method of moments (GMM) to analyze FDI stocks. The study found that EU membership significantly influences FDI, while NAFTA doesn't have the same impact. European Integration boosts FDI within the Single Market. The UK leaving the Single Market could reduce intra EU FDI by 30%. The UK doesn't have a special advantage in attracting FDI compared to other EU countries.