France Trade Agreements

Most foreign trade is based on trade in goods. With regard to agricultural raw materials, France has become an increasingly important net exporter of agricultural raw materials (such as cereals) and agri-industrial products such as food and beverages, including wines, canned fruit and vegetables and dairy products. However, the need to import large quantities of oil (and to a lesser extent gas and coal) has resulted in a significant deficit for these exchanges. Although France imports a lot of industrial goods, it has long been a major exporter of vehicles and means of transport, armaments and professional electronics. Exports of medicines and parachimic products have recently increased. Given the difficulties encountered in multilateral negotiations within the WTO, market access is increasingly achieved through bilateral or regional agreements. The European Union has established a very wide network of regional preferential agreements around the world. The European Union`s trade policy, initially centred on its neighbours and development partners, reached a strategic turning point in 2006 with the introduction of the Global Europe Strategy and negotiations on larger-scale “next generation” trade agreements (services, public procurement, non-tariff barriers). Most foreign trade is with other developed countries and about four-fifths of transactions are with Organisation for Economic Co-operation and Development (OECD) countries.

Among these, the EU plays an important role, reflecting the increase in trade in goods and services between its Member States. More than three-fifths of French exports and imports come from or from EU countries, of which Germany is slightly the largest. Outside the EU, the United States is France`s other major trading partner, although Russia and China have claimed a growing share of French trade in the 21st century. EU countries are an important source of industrial imports, while products and raw materials generally come from more distant sources. On the other hand, agricultural and food exports are mainly geared towards European markets, while industrial products are exported to a more global market. Speaking at the Sorbonne University on 26 September 2017, French President Emmanuel Macron spoke in favour of an open Europe that protects and can promote the economic interests of companies and ensure respect for our interests and respect for international trade rules. 850 million euros Value of France`s trade surplus with Japan. France and Japan already have close trade relations.

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