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The U.S. is the EU's main trading partner by a wide margin. U.S. goods and services exports to the EU reached $283 billion in 2004, while U.S. goods and services imports from the EU totalled $388 billion. Asian economies such as Japan and China, however, account for an increasingly important share of EU trade. The EU's two-way merchandise trade with China grew to $223 million in 2004, while merchandise trade with Japan was $149 million. Internal trade between euro area and non-euro area countries was down one percent in the first quarter of 2005, but the EU's external trade was up four percent, particularly with Russia and Norway.
The U.S. is the EU's main trading partner by a wide margin. U.S. goods and services exports to the EU reached $283 billion in 2004, while U.S. goods and services imports from the EU totalled $388 billion. Asian economies such as Japan and China, however, account for an increasingly important share of EU trade. The EU's two-way merchandise trade with China grew to $223 million in 2004, while merchandise trade with Japan was $149 million. Internal trade between euro area and non-euro area countries was down one percent in the first quarter of 2005, but the EU's external trade was up four percent, particularly with Russia and Norway.
Member states have given almost exclusive authority to the EU to negotiate binding international trade treaties. The European Community (EC) is a full member of the World Trade Organisation and plays an active role in the Doha Development Round to foster international trade in services and agricultural products. Bilaterally, the EC maintains framework agreements to facilitate trade flows with thirty-five countries worldwide, mostly elsewhere in Europe, in North Africa, and in the Middle East.
Member states have given almost exclusive authority to the EU to [[negotiate]] binding international trade treaties. The European Community (EC) is a full member of the World Trade Organisation and plays an active role in the Doha Development Round to foster international trade in services and agricultural products. Bilaterally, the EC maintains framework agreements to facilitate trade flows with thirty-five countries worldwide, mostly elsewhere in Europe, in North Africa, and in the Middle East.
===Foreign Direct Investment===
===Foreign Direct Investment===