Preferential Trade Agreement (PTA)

A Preferential Trade Agreement is an agreement between a country in the European Union and another country. The EU has arranged for a Preferential Trade Agreement with a number of countries. This is an agreement in which it is determined that no duties (or reduced duties) will be levied on a certain product, when it is imported from a certain country. The EU has trade agreements with:- EVA countries (Iceland, Norway, and Switzerland)- LGO countries (for example, but not limited to; Dutch Antilles, New-Caledonia, French-Polynesia, the Falkland Islands, the Virgin Islands and Greenland)- Countries surrounding the Mediterranean sea (Such as countries in North Africa and the Middle East)- South Africa and Mexico