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free trade

Free trade agreements save your company money

Does your company make use of EU free trade agreements to save on customs duties? Do you know which 70 countries the EU has signed free trade agreements with? If in doubt about the answers, read further.

Free trade offers enormous potential for your company. The EU has free trade agreements with 70 countries outside the EU. Click here to see an overview of the 70 countries. The agreements remove or reduce tariffs, offering large-scale savings for Danish companies, both in relation to exports and imports.

Free trade – with whom and how?

But your company does not automatically qualify for tariff exemptions when it exports to or imports from a country with which the EU has a free trade agreement.

For your company to enjoy the tariff-free benefits of EU free trade agreements, the most important precondition is that the goods in question are produced in Denmark or in another EU Member State, and that goods imported into Denmark are produced in one of the 70 countries with which the EU has signed a free trade agreement. It is also a precondition that the origin of the product can be documented.

How much money can you save?

Typically, you can save 5-10 per cent on the price of a product. This can have significant importance if competing companies use EU free trade agreements to save on tariffs and you do not.

The EU has signed free trade agreements with some of Denmark’s key export and import markets outside the EU. These include, for example, Canada, Egypt, Japan, Norway, Switzerland, South Korea and Turkey. Using EU free trade agreements need not be so difficult.

Focus on free trade can be a perfect way to save money and increase your company’s imports and exports. Read more in The Trade Council’s brief guidelines as well as the EU’s bilateral free trade agreements (in Danish).

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