Preferential Trade Agreement
A Preferential Trade Agreement is an agreement between countries in the European Union and other countries.
The EU has arranged for a Preferential Trade Agreement with a number of countries. This is an agreement in which it is determined that no duties will be levied on a certain product, when it is imported from a certain country.
The EU has trade agreements with:
– EVA countries (Iceland, Norway, and Switzerland)
– LGO countries (for example, but not limited to; Dutch Antilles, New-Caledonia, French-Polynesia, the Falkland Islands, the Virgin Islands and Greenland)
– Countries surrounding the Mediterranean sea (Such as countries in North Africa and the Middle East)
– South Africa and Mexico