The European Union

The European Union

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The European Union


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.


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

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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20% of the world’s exports. The EU is going to enlarge and accept 13
European countries. The EU also intended to improve the relations with
non-member countries and for this purpose it planed to develop special
policies on trade with nonmember countries (Kotler, 1999, p. 371).

Nowadays, the EU is on the 5th place ahead of the US and Japan. The EU
is the leading player in international market (European Union).

European Union

The European Union (EU) was established after 2nd World War. France
officially undertook the establishment of the EU proposing to create
“the first concrete foundation of a European federation”. On May 9,
1950 the EU was created and initially six European countries joint to
the EU: Belgium, Germany, France, Italy, Luxemburg, and the
Netherlands. Then 9 countries joint to the EU and today the number of
the member countries is 15 (later joint Denmark, Ireland, the United
Kingdom, Greece, Spain, Portugal, Austria, Finland, and Sweden)
(European Union).

The EU today is preparing for the accession of 13 European countries –
Bulgaria, Czech Republic, Estonia, Cyprus, Latvia, Lithuania, Hungary,
Malta, Poland, Romania, Slovenia, Slovakia, and Turkey. In order to
join the EU, these countries need to fulfill the economic and
political requirements, which in other terms called “Copenhagen
criteria”. Those requirements are mainly related to the following:

1. Member countries must be a stable democracy, respecting human
rights, the rule of law, and the protection of minorities;

2. Member countries must have a functioning market economy;

3. Member countries adopt the common rules, standards and policies
that make up the body of EU law.

As these countries have not yet fulfilled all the requirements, they
need financial resources or in other words they need money. The EU
assists those countries providing financial resources to those
countries 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).

All of these countries will integrate in order to realize the
principal objectives of the EU. Those objectives are:

1. Establish European citizenship

2. Ensure freedom, security and justice

3. Promote economic and social progress

4. Assert Europe’s role in the world.

5 institutions implement all of these objectives:

1. European Parliament (EP) – This represents the will of 374
million European citizens’ and assembles pan-European political
groups that operate in Member states. The overall task of the EP
is to make and adopt the laws with Council, to adopt the budget at
the end, and control/supervise all institutions. It is elected
every five year.

2. Council of the European Union – This is the most influential
institution in decision making process. The main functions of this
institution is to exercise the issues related to the legislation,
to suggest and monitor the international agreements, implementing
foreign and security policy, monitor the budget of the EU with the
EP and finally to coordinate the activates of the Member States.

3. European Commission (EC) – EC play the leading force in the
Union’s institutional system. It is mainly responsible for
creating the initial outline of legislation, implementing the
legislation to assure that law is property applied, and
representing the EU in international scope and signing trade and
cooperation agreements.

4. Court of Justice – This institution is responsible only the
issues related to the justification. It justifies the disputes
that arise among Member States, EU institutions, businesses, and
individuals. They check whether laws are in the accordance with
the justice or not.

5. Court of Auditors – Its major function is to check whether all
the Union’s revenues and expenditures are going in a regular
manner, according to the EU budget.

Today European Union is the leader in the international trade and with
its member countries it makes up the fifth of the world trade. The EU
had 4 trade defense instruments, which enables the EU to achieve its
objective related with economic and social progress. Also this will
lead the assertion of the EU’s role in the world. Those instruments
are the followings:

1. Anti-dumping policy, which had the meaning of taking steps to
stop the process which enables the exporters to bring goods at
such a price which is lower compare with the prices of the goods
in the domestic market.

2. Anti-subsidy policy that intended to restrict or fully eliminate
the imports of those goods that in the third country of origin had
low prices. Those prices are artificially kept low by public

3. Regulations on trade barriers – above mentioned policies resulted
reinstating temporary custom duties on the imports that are in the

4. Protective measures – if the amount of the imported goods
increases very rapidly which hurt the national producers, there
should be undertook protective measures such as restricting the

The EU to make the integration more efficient uses these trade defense
instruments. Since today they achieved stability, peace and economic
prosperity. These resulted in the raise of living standards, building
an internal market, launch the euro, and the strengthening the Union’s
voice in the world (European Union).

Today the EU has 15 members counting more than 370 million consumers,
which account about 20% of the world exports. Later on the EU’s
mission is to enlarge and include more nations. Today there are 13
candidate countries that will increase the number of Member countries
to 28, which will have totally 450 million consumers (Kotler, 1999, p.

Anticipated Analyses and Conclusion

Although the EU is the fifth major trade bloc in the world, there are
some weak sides the EU should consider very carefully. At first the EU
has to set special policies concerning the trade with nonmember
countries to avoid or secure from expected outsiders’ barriers.
Instead the EU can enact such policy that will deepen the
relationships with nonmember countries. As soon as 13 countries enter
into this free trade zone or bloc, the EU will become more successful
and will increase exports to support member countries’ consumers. Yet,
however much nations and regions integrate their trading policies and
standards, each nation still has unique features that must be
understood. A nation’s readiness for different products and services
and its attractiveness as a market to foreign firms depend on its
economic, political – legal, and cultural environments. The EU became
driving force into the international market for member countries. Such
kind of economic communities are needed to increase today’s economic
growth and make countries better off.


1. European Union. “ Trade policy instruments”. Brussels. October
30, 2002.

2. European Union. “The institutions of the union”. Brussels.
November 2, 2002.

3. European Union. “Enlargement”. Brussels. November 1, 2002.

4. Marketing Management, Regional Free Trade Zone, Chapter 12
Designing global market offerings, p. 371, USA, 1999).

5. Kotler Ph. “Marketing Management.” Prentice-hall, Inc. New
Jersey, 1999. November 12, 2002.
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