EU trade deals, a breath of fresh air

EU trade deals, a breath of fresh air

Foramen is a Spanish manufacturer of oral hygiene products. Founded in 1918 the company now exports to 40 countries around the world.

EU trade agreements with countries such as Mexico have been instrumental in creating a system of fair and open trade. For companies like Foramen, this system has been essential to its path in becoming a leader in the oral hygiene sector which is dominated by companies that operate on low production costs.

Since the 1990s Foramen has been exporting to international markets with a real emphasis on product quality. In fact, the company exports approximately 70% of its production outside of Europe, taking advantage of trade agreements with countries such as Tunisia, Jordan, the Dominican Republic and Mexico. Overall, 25% of Foramen’s exports are destined for countries with which the EU has a trade agreement in place.

The EU-Mexico trade deal entered into force in the year 2000. It eliminated the customs duties that Foramen’s products would previously have been subject to, helping the company to grow exponentially. In fact, since arriving in Mexico in 2011, Foramen’s turnover has increased by around 15% annually, reaching €415,000 in 2015. Such strong international business has enabled Foramen to hire more people, now totalling 75 employees, even in the midst of a crisis.

Foramen will continue to forge long-lasting relationships with distributors who appreciate the company’s quality, punctuality, and flexibility. All of this while keeping a close eye on the progress of the EU’s forthcoming trade agreements with more partners around the world.

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