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European Union (Eu)

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The European Union (EU) is a union of twenty-seven independent states based on the European Communities and founded to enhance political, economic and social co-operation. Formerly known as European Community (EC) or European Economic Community (EEC).
All information about EU: http://en.wikipedia.org/wiki/European_Union
The business implication of the EU: http://books.google.com.vn/books?id=73nQYLkj4lIC&pg=PA519&lpg=PA519&dq=eu%27s+effect+on+international+business+law&source=bl&ots=jZi4MvJL_n&sig=UZV5j9RNWCPcvCUyZin5nYd3DHU&hl=vi&ei=jHSbTI3FDo2osQPK8LzVBA&sa=X&oi=book_result&ct=result&resnum=3&ved=0CCEQ6AEwAg#v=onepage&q&f=false
Page 518/ Text book: IBL and its environment.
The impact of EU on international trade
The European Union has had a significant influence upon international trade, especially in respect of the countries that are member states in the Union. However, it has also had an impact on global trade generally.
Internally, trading between the member states within the European Union has become less restrictive, because of the laws and regulations passed. Trade barriers between member states have been virtually eliminated and strict regulations have been applied to ensure fair competition for all. It is partially resulting from these moves that countries like those in the Baltic States are clamoring to join the EU.
The EU also protects its member states from unfair competition tactics that other nations might use. The economic power of the Union is such that it can act in this way to greater effect than an individual member would have. For example, the voice of the European Union would be more effective against the might of the United States than would be the voice of a country like Romania. This protection allows the less able member states of the Union to achieve a faster rate of economic growth than they would be able to achieve as a single

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