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Sweden Bilateral Trade Agreements

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There are bilateral trade agreements between two parties. It allows access to the parties` various markets, allows for economic growth and reduces trade barriers, such as tariffs and import quotas. Sweden`s traditionally positive trade balance recorded a deficit in 2018, with imports growing faster than exports. Imports reached $170.2 billion in 2018, up from $154.2 billion the previous year, while exports increased by $152.9 billion over the period to $165.9 billion. According to the WTO, the trade deficit was $4.2 billion in 2018. Nevertheless, Sweden generally has a trade surplus when services are taken into account, as it exports more services ($72.7 billion) than it imports ($68.6 billion). In addition, according to provisional data from Sweden Statistics, exports of goods exceeded imports in 2019 and the trade balance improved to a surplus. Exports increased to an estimated 1.52 trillion kronor from SEK`s 1.5 trillion kronor. Sweden is a member of the EU and does not enter into free trade agreements. However, Sweden is actively involved in the preparations and work carried out during the ongoing EU-led negotiations.

You will find a list of trade agreements with the EU and its member states, as well as concise explanations in EU trade agreements. Free trade agreements are concluded between countries with the aim of creating a free trade area in which trade between countries will be liberalised and thus facilitated. Liberalisation includes reducing tariffs on products originating in the free trade area or gradually reducing them. Sweden is a member of the EU and does not enter into free trade agreements. However, Sweden is actively involved in the preparations and work carried out during the ongoing EU-led negotiations. The National Trade Committee`s mission is to provide the Swedish government with qualified analysis to negotiate and make trade policy decisions. The current agreement, on which the WTO relies, consists of 16 different multilateral agreements signed by all WTO members (150 degrees). It describes the bilateral and multilateral trade agreements to which that country belongs, including with the United States.

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