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.
- European Union
- Institutions of the European Union and Their Competence
- The Enlargement of the European Union