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Course summary Foreign trade of the European Union:
Together, the European Union's 27 members account for 19% of world imports
and exports.
The EU's 27 members negotiate as one on the international scene, through the
European Commission. The European Union manages trade relations with countries
outside the bloc through the EU's trade policy. The scope of EU's exclusive powers covers
not just trade in goods, but also:
- services
- commercial aspects of intellectual property
- Foreign direct investment (FDI)
The Commission negotiates with the trading partner on behalf of the EU. . The
policy must contribute to the objectives of the Europe 2020 strategy, in view of
the impact of international trade on the sustainable growth of the European
Union (EU).
Negotiating agenda
- Multilateral Trade Agreements (Doha Development Round)
- Bilateral Trade Agreements (Korea,
ASEAN, India, Canada,
Central America,
Andean Community, Ukraine,
EUROMED, Mercosur,
Gulf
States, Libya, China, Chile,
Mexico, Turkey). Covering more than 35% of global trade.
- Deepen relations with strategic partners:
US, China, Russia,
Japan, India, Brazil
- Unilateral dimension - Generalised System of
Preferences (GSP): Everything But Arms (EBA) and GSP+. |
The services sector is accounting for some three-quarters of the gross
domestic product (GDP) for the EU and on average for 50% for the developing
countries. Additionally, over three-quarters of EU jobs are in the services
sector.
The European Automotive Industry is a leader in the global automotive
market, with integrated automobile operations that combine research, design,
development, production and sales. It has a dense worldwide network of joint
ventures, production and assembly sites. EU exports of motor cars reached € 76
billion in 2010, with a 58% increase over 2009.
One of Europe's most competitive industrial sectors is that of chemicals
and the EU is the world's most important chemical producer.
With an estimated share of around a third of global output, the EU is the second
global manufacturing location for pharmaceuticals.
As the second largest global producer of civil aircraft, Europe also
produces helicopters, aero-engines, parts and components.
The EU is a major importer of computer and consumer electronics, while
maintaining a relatively stronger international position in mobile
telecommunication, electronic components and electronic measuring devices.
The EU is the second largest producer of crude steel.
Textiles and clothing are among the most traded goods in the global
economy and the EU dominates high quality markets. After China, the EU is the
world's second largest exporter of textile products with 31% including intra-EU
trade.
The EU is the world's biggest importer and exporter of agricultural products
and promotes open trade for sustainable economic growth.
Example of the course Foreign trade of the European Union:
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EENI International Business
Course learning materials: 
