And many countries outside the union are covered by the 53 bilateral trade agreements it enjoys, conferring
favourable trading terms for basic food industry commodities like palm oil and soya.
Any attempt to salvage
favourable trading terms was denounced as anti-democratic treachery.
Not exact matches
If Trump succeeds in getting more
favourable terms of
trade from his
trading partners, along with perhaps relief on his defence budget, he will emerge as the winner in the noisiest
trade quarrel the world has seen in the last couple of decades.
With a
favourable international environment, high levels of confidence domestically, and further rises in the
terms of
trade adding to national income, the prospects are that demand conditions will continue to encourage growth in the period ahead.
But we were also fortunate in Australia that the boom in commodity prices and substantial rise in the
terms of
trade through the 2000s produced a very
favourable economic environment at a time when many of the major economies moved into recession.
U.S. President Donald Trump came to power promising to rip - up
trade deals and renegotiate them on
terms more
favourable to his country.
However, given the generally
favourable environment for business investment and ongoing stimulus to incomes from the rising
terms of
trade, any slowing in demand from last year's pace at this stage seems likely to be relatively mild.
The Trump administration has made it known that the softwood lumber industry and Canadian livestock are both sources of interest, where the U.S. would like to seek more
favourable terms of
trade.
Changes would include a drastic increase in overseas development assistance in the field of communication and under conditions more
favourable to recipient parties, the adoption of the UNCTAD Code of Transfer of Technology on the
terms proposed by the developing countries, a revision of provisions on the protection of intellectual property in the GATT / TWO multilateral
trade accord so as to take the interests of less powerful countries and small producers into account, and the adoption of a multilateral accord on space cooperation and equal benefits.
The EU is our largest
trading partner offering access to a larger marketplace and the opportunity to
trade with other member states under
favourable terms and conditions.