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    Nidhi Hada Jain
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    The European Union (EU) was formed in 1958 as the European Economic Community through the Treaty of Rome by six countries: Belgium, France, Germany, Italy, Luxembourg, and the Netherlands. The treaty required members to eliminate trade barriers and harmonize policies to encourage the free flow of goods, capital, services and labor. The EU expanded over time to include 25 members by 2004 as more countries in Europe joined. The EU is now India's largest trading partner, with the UK, Germany, Belgium and France making up India's largest EU trade relationships. Primary exports to and imports from the EU involve various manufactured and agricultural goods.

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    The European Union (EU) was formed in 1958 as the European Economic Community through the Treaty of Rome by six countries: Belgium, France, Germany, Italy, Luxembourg, and the Netherlands. The treaty required members to eliminate trade barriers and harmonize policies to encourage the free flow of goods, capital, services and labor. The EU expanded over time to include 25 members by 2004 as more countries in Europe joined. The EU is now India's largest trading partner, with the UK, Germany, Belgium and France making up India's largest EU trade relationships. Primary exports to and imports from the EU involve various manufactured and agricultural goods.

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    14 views7 pages

    European Union

    Uploaded by

    Nidhi Hada Jain
    The European Union (EU) was formed in 1958 as the European Economic Community through the Treaty of Rome by six countries: Belgium, France, Germany, Italy, Luxembourg, and the Netherlands. The treaty required members to eliminate trade barriers and harmonize policies to encourage the free flow of goods, capital, services and labor. The EU expanded over time to include 25 members by 2004 as more countries in Europe joined. The EU is now India's largest trading partner, with the UK, Germany, Belgium and France making up India's largest EU trade relationships. Primary exports to and imports from the EU involve various manufactured and agricultural goods.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
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    of 7

    Regional Trading Blocs

    European Union
    Known

    As:

    European Union European Economic Community European Common Market


    Most

    successful regional economic integration schemes.

    EU
    Came

    into existence in January 1, 1958 by the virtue of Treaty of Rome, 1957. comprised nations were, Belgium, France, Federal Republic of Germany, Italy, Luxembourg & Netherlands.

    Originally

    The

    Treaty of Rome required every member country to:


    Eliminate tariffs, quotas & other barriers Develop a common internal tariff Free flow of factors of production Harmonizing monetary & taxation policies Adopting a common policy of agriculture, transport & competition in industry.

    Expansion
    1973:

    inclusion of United Kingdom, Denmark & Ireland 1981: Greece 1986 January 1: Spain & Portugal Austria, Finland & Sweden joined later in 1995. Now total membership rose to 15

    Expansion

    Increase in membership from 15 to 25:


    Estonia Latvia Lithuania Poland Czech Republic Slovak Republic Hungary Slovenia Cyprus Malta

    Bulgaria & Romania in 2007.

    Indo-EU Trade
    EU as a single unit is Indias largest trading partner. Within EU Indias largest trading partners are UK, Germany, Belgium & France. Primary Exports to EU are: Textile, Jute, Leather & Leather goods, polished Diamonds, Engineering goods, Marine Products, Chemicals, etc. Primary Imports are: Edible oil, dairy products, optical instruments, capital goods, aluminum & copper products, synthetic rubber, photo & cinematographic goods, etc. India also gets technology, investment & development aid from EU Countries.

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