The EU has trade agreements with these countries/regions, but both sides are now negotiating an update. Fact sheets, Vietnamese trade in your city, texts of agreements, stories of exporters The World Trade Organization unilaterally designates preferential trade agreements and reciprocal trade agreements as regional trade agreements. Since the beginning of the 20th century, several hundred bilateral THPs have been signed. The Canada Research Chair in International Political Economy`s TREND project lists approximately 700 trade agreements, the vast majority of which are bilateral.  In some circumstances, trade negotiations have been concluded with a trading partner, but have not yet been signed or ratified. This means that, although the negotiations are over, no part of the agreement is yet in force. All of the above agreements are free trade agreements, but for a variety of reasons, members prefer to name them under another name. In many cases, these names reflect the broader scope of agreements: many recent free trade agreements go beyond the scope of traditional trade agreements and cover areas such as public procurement, competition, intellectual property, sustainable development, labour and the environment, etc. A preferential trade zone (including preferential trade agreements, PTA) is a trading bloc that offers preferential access to certain products from participating countries. This requires a reduction in tariffs, but not in their total abolition.
A ZEP can be implemented through a trade pact. This is the first step in economic integration. The border between a EPZ and a Free Trade Area (EEA) can be blurred, as almost all ATPs have the main objective of becoming a free trade agreement in accordance with the General Agreement on Tariffs and Trade. The way in which free trade agreements are designated may also be different. Most free trade agreements are designated by listing the participating countries and adding the term “FTA.” For example, the Canada-Korea Free Trade Agreement. However, some free trade agreements are called under different names. For example, the Canada-EU free trade agreement is referred to as a comprehensive economic and trade agreement. Other countries call their trade agreements Economic Partnership Agreements (EPAs) or Global Economic Partnerships (CEPs). Other variants are also used. These tariff preferences have led to many departures from the principle of normal trade relations, namely that members of the World Trade Organization (WTO) should apply the same tariff to imports from other WTO members.  Most of the reciprocal agreements covered by the instrument are free trade agreements. Free trade agreements (FTAs) remove barriers to trade between members and provide preferential access to markets on a reciprocal basis.
In addition to trade in goods, free trade agreements generally cover trade in services and investment rules and remove tariff and non-tariff barriers. They may also include a number of provisions relating to customs cooperation and trade facilities, as well as harmonising standards and promoting regulatory cooperation in various areas. Each free trade agreement is negotiated and agreed separately by the participating countries. A country may be a member of several free trade agreements. Preferential rules of origin are applied to prevent third countries from benefiting from preferential tariffs under a free trade agreement without presenting reciprocal benefits.