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A critical examination of European Union’s economic policy

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  1. Introduction
  2. GATT negotiations involving the EC/EU
  3. Regulations in the CCP
    1. Tariffs
    2. Rules of origin
    3. Anti dumping measures
    4. Safeguard measures
    5. Grey measures
  4. EU trading patterns
  5. Differentiation in external trade relations
  6. Trade relations with developed countries
  7. The Lomé conventions
  8. The development of the Lomé conventions
  9. The aid component of the convention
  10. Trade preferences
  11. EU ACP policy after Lomé
  12. The Contonou agreement
  13. Conclusion
  14. Bibliography

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. [...]

[...] A mid-term review took place in 1994?95, in the context of changes in the economic and political situations of the ACP countries (democratization process, structural adjustment), in Europe (enlargement, increasing attention to East European and Mediterranean partners) and in the international environment (Uruguay Round Agreement). Several amendments were approved: Political aspects: respect for human rights, democratic principles and the rule of law became essential elements of the Convention; Trade preferences: a small extension of preferential access for ACP agricultural exports to the EU in a few areas; a minor relaxation of the rules of origin; Aid: EDF 8 was agreed at a level similar (in real terms) to the previous EDF ?despite conflicts over the contributions of individual Member States to the new financial protocol. [...]

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