European Union

: 2/3

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

Establish European citizenship

Ensure freedom, security and justice

Promote economic and social progress

Assert Europes role in the world.

5 institutions implement all of these objectives:

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.

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.

European Commission (EC) EC play the leading force in the Unions 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.

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.

Court of Auditors Its major function is to check whether all the Unions 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 EUs role in the world. Those instruments are the followings:

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.

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 subsidies.

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

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 imports.

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 Unions 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 EUs 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. 371).

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 nations 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 todays economic growth and make countries better off.

: 23/10/2007