The EU's trading policy towards the rest of the world is called the Common Commercial Policy and is established under Articles 100-116 of the Treaty of Rome (Title IX Articles 131-134 of the Consolidated Treaty). "By establishing a customs union between themselves Member States aim to contribute, in the common interest, to the harmonious development of world trade, the progressive abolition of restrictions on international trade and the lowering of customs barriers" (Article 131). The CCP is operated by the Commission (A133.2). New trade agreements are negotiated by the Commission, in conjunction with a special committee appointed by the Council, under a mandate laid down by the Council of Ministers (A.133.3). Decisions on trade agreements are made by QMV, unanimity is required where agreements contain provisions that go beyond the Community's internal powers, or relate to cultural and audiovisual services, educational services, and social and human health services (A 133.5/6).
[...] The main objective of Lomé was promote and expedite the economic, cultural, economic and social development of the ACP states and to consolidate and diversify their (ACP and EU) relations in a spirit of solidarity and mutual interest'. The Conventions were based on the following principles: 1. Equality between partners and respect for sovereignty, mutual interests and interdependence The right of each state to determine its own political, social and cultural economic policy options (although this is now partly in abeyance); 3. [...]
[...] reductions of 20% on a wide range of industrial goods; compensated third countries for trade diversion caused by the formation of the EC Kennedy Round: 1964-67, Tariff reductions of about 32% on a wide range of industrial goods. Tokyo Round: 1973-79 reduced tariffs on industrial goods by a further improved legal framework for trade; addressed non-tariff barriers. Uruguay Round: 1986-93, expanded GATT rules to cover agriculture and services, improved dispute settlement, further reduced tariffs, created the World Trade Organization (WTO) to replace the GATT. [...]
[...] These frictions have been prevented from developing into a full blown trade dispute by the importance of the mutual trade links and before 1989 by shared values in particular the mutual defense and foreign policy interests. Japan Trade relations were problematic in the 1980s, because of the persistence and size of the EU's trade deficit, and the narrow range of products that Japan exported to the EU. There was also a belief that the Japanese market was heavily protected from imports by NTBs. [...]
[...] Shares of World Trade total merchandise trade Exports Imports EU trade) Source: WTO Table 2 EU 15 trade by geographical region total merchandise trade Exports Imports States/CIS Source: WTO Table 3 EU 15 main trade partners total merchandise trade United States Switzerland China Japan Source: WTO Table 4 EU 15 Commodity composition of trade total merchandise and services trade exports imports equipment Source: WTO Differentiation in external trade relations The Union has developed a very extensive range of preferential trade agreements these are mainly with developing countries and more recently with the countries of CE Europe and with EFTA. Thus the Common Customs Tariff only applies in full to five countries: USA, Canada, Japan, Australia and New Zealand. The EC operates a hierarchy of privilege: European Economic Area Agreement Norway, Iceland Liechtenstein (Switzerland has FTA with the EU). The EEA provides for full access to the Single Market for all four freedoms, but requires acceptance of EU laws, ECJ jurisdiction (Competition Policy) and some contributions to the EU budget. Europe Agreements: Czech Republic, Estonia, Hungary, Latvia and Lithuania. [...]
[...] The allocation is effected every five years on the basis of a formula, which captures objective criteria of a geographic, demographic and macroeconomic nature (GNP per capita, economic situation, external debt, etc.). The formula includes considerations of physical elements (landlocked and island states), the status of least developed countries (art.8 of the Convention), and other factors not precisely specified. After notification by the Commission of the amount of programmable resources for each ACP country, the NIP is drawn up jointly by the recipient government and the Commission. [...]
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