France is one of the most important players in international trade, with more than 120 000 exporting companies. To facilitate this trade, the European Union has developed a network of trade agreements with other countries. Trade agreements aim to facilitate trade, notably by reducing or eliminating customs duties and import restrictions. Indeed, these agreements provide many benefits to businesses.
However, French companies are not making full use of the benefits of these trade agreements. By mastering and using these advantages, they could save hundreds of millions of euros in customs duties.
According to a study by the French Treasury, in 2020 the average rate of utilisation of preferences by French companies was 71%, below the EU average of 75%. A study launched by the Treasury Directorate General is currently underway among companies to gather information on the limitation of these agreements according to sectors of activity.
Indeed, the rate of use of trade preferences is higher for European exporters of raw materials and agricultural products, whereas it is lower for processed products.
It is important that companies understand the importance of trade agreements and their use in order to take full advantage of the benefits they offer. Businesses also need to be aware of the areas where preference utilisation is lower and work to increase their utilisation in these areas.
In summary, trade agreements are essential elements of a country’s economy and foreign policy.
By mastering these agreements and using them fully, companies could save several hundred million euros in additional tariffs. It is therefore important that companies consider trade agreements in their export strategy.
Link to the survey :
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