Study shows trade agreements helped boost EU ag exports
Commissioner for Agriculture and Rural Development, Phil Hogan said: “These three agreements alone have increased EU agri-food exports by more than €1 billion and have raised value-added in the agri-food sector by €600 million. Just as importantly, this increase in exports has supported thousands of jobs in total across the EU, most of which in the agri-food sector, including in primary agriculture. These figures are clear evidence that ambitious and balanced trade deals work for European food and farming.”
The study shows that the agreements contributed to increased trade in both directions, with increased EU exports and increased imports of products from these three countries, giving EU consumers and business greater access to agri-food products.
Importantly, the study suggests that these increased imports have little impact on domestic EU production. Instead, they reflect mainly a replacement of imports from other third countries or an increase in EU consumption.
The three trade agreements also contributed to a record year for EU agri-food exports in 2016, with total exports reaching €130.7 billion, up €1.7 billion on 2015. The biggest increases in annual exports were to the USA (up €1.26 billion) and China (up €1.06 billion). At the same time, the value of EU agri-food imports went down 1.5% to €112 billion. The agri-food sector accounted for 7.5% of total EU exports in goods in 2016.
source: foodingredientsfirst.com
