Sweden has traditionally pursued a free trade policy. It is strongly dependent on foreign trade, which has been an important driving force behind its development into an industrialized nation with a high standard of living. Access to foreign markets has enabled Swedish industry to specialize and expand. Liberal trade policies in Sweden have promoted imports, competition and structural change.
On January 1, 1995, Sweden joined the European Union. EU membership marks a significant step in Swedish post-war history. The country’s trade policy is now integrated in the overall framework of the EU and Sweden is thus participating fully in the EU single market and customs union.
Meanwhile, Sweden actively supports the process of strengthening the open multilateral trading system within the World Trade Organization (WTO), successor of the General Agreement on Tariffs and Trade (GATT).