Europe's economy could be boosted by €275 billion if the EU successfully concludes all current free trade talks. It is now negotiating agreements with major economic players such as the US, Japan and India, which would open up these markets for European businesses. The EU's gross domestic product would then grow by 2.2%, the equivalent of adding a country the size of Austria to the economy. Find out all the facts in our infographic.
The European Commission has been negotiating a free trade agreement with the US since July and an investment agreement with China since October on behalf of the member states and with the approval of the European Parliament.
With an annual gross domestic product exceeding €12 trillion, the EU is already the world's greatest economic power, but more trade could help a crisis-hit Europe to revitalise the economy and create new jobs.
Check out our infographic to learn more about trade between the EU and its key economic partners.