The European Union

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The European Union

Abstract

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This paper is about the EU, its major policies, the key objectives,

legislations, instruments for implementing those policies, who the

members are, and the institutions involved in the implementation of

the trade goals.

Key word: European Union; Mission of the EU.

Introduction

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The establishment of the EU intended to work toward common goals of

European countries. This free trade zone or economic community was and

is very successful which seeks special purposes such as political

dialogue, free trade and freedom of movement, economic, financial, and

cultural cooperation. Special attention was focused on the trade laws,

regulations, and other issues (Kotler, 1999, p. 371).

The key objectives are to keep market open, ensure fair trade, enforce

the legislation objectively and transparently, ensure trade partners

respect WTO legislation, and promote improvements to the system

(European Union). The EU provides sovereignty to its Members to act as

independent ones on behalf of the EU or in other words to welfare and

interest of the Union as a whole (European Union).

The integration of the EU after 2nd World War enabled the EU is to

raise standards of living, build an internal market, launch the common

currency - euro, strengthen the Union’s voice in the world. To realize

these goals the EU has been implementing several trade defense

instruments:

1. Anti – dumping policy

2. Anti – subsidy policy

3. Regulation on trade barriers

4. Protective measures.

The EU even uses a common currency, the euro monetary system which

tend to make the trade zone more effective and compatible in the

international market (European Union). The EU has such a structure

that there are 5 institutions and each of them is responsible for a

respective objective (European Union).

Today the EU is one of the influential and largest trade blocs or

single markets that includes 15 member countries. Those 15 member

countries totally have more than 370 million consumers and account for

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