Europe’s economic strength and resilience will come from EU enlargement and partnerships with Ukraine, Mercosur and Latin America. To discover more perspectives on the European economic security imperative, read the recap of the latest edition of the Europe Future Forum that took place in Warsaw this September.
Let me start with some good news: the European Union (EU) remains the world’s largest economic bloc. It is home to over 430 million people – 25 per cent more than the population of the United States (US) – and accounts for around one-sixth of global trade. If we include the European Free Trade Association (EFTA) members and candidate countries such as Ukraine, Moldova, and the Western Balkans, this market could expand to over 520 million, making it 50 per cent larger than the US economy.
With political ambition, this extended free trade area could further grow by deepening ties with Latin America, for instance, through a long-awaited EU-Mercosur agreement. Such a move would create a transatlantic trading community of 800 million people, which is more than twice the population of the EU, and potentially the largest free trade bloc in the world.
Weekly updates with our latest articles and the editorial commentary.