What does trade mean for smaller EU countries?

What does trade mean for smaller EU countries?

EU trade deals are important for small countries as their companies look to find new markets beyond the limited pool of customers at home.

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Most EU member countries trade more with their neighbours in the EU single market than with partners outside the bloc, but this is changing. Between 2003 and 2015, the increasing proportion of trade outside the EU was most pronounced in the U.K. and Greece but also Latvia, Denmark and Portugal.

EU trade deals may list “geographical indications”, protecting regional foods and drinks, like Magiun of Topoloveni plum products from Romania, from cheap imitations. And easier imports give consumers a wider variety of goods than might be produced in their own country. The EU’s trade agreement with Colombia, for example, means people in Luxembourg can enjoy juices from fruits unknown in Europe.

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