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Pages 10 (2510 words)
The European Union trade is based upon a Customs Union as set upon by Article 9 of the Treaty of Rome. In this framework, the community employs a Common Customs Tariff (CCT) and a Common Commercial Policy (CCP). EU defines Customs Union as an agreement among its members for free trade with each other and employment of a single common external tariff and trade policy towards third countries.
On the basis of Article 133 of the European Community (EC) Treaty, the European Commission negotiates on behalf of the Member States in consultation with a special committee- the so-called "133 Committee". The 133 Committee is composed of representatives from the 25 Member States and the European Commission. Its main function is to coordinate the trade policy of the EU. The 133 Committee discusses the full range of trade policy issues affecting the EU, from the strategic issues surrounding the launch of rounds of trade negotiations at the WTO to specific difficulties with the export of individual products, such as textiles, and considers the trade aspects of wider EU policies in order to ensure consistency of policy. In this Committee, the European Commission secures endorsement of the Member States on all trade policy issues. The major formal decisions (for example agreement to launch or conclude negotiations) are then confirmed by the Council of the European Union.
It is said that the objective of the EU's Common Commercial Policy is 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. ...
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