International Relations And European Union

European Union is considered as an economic and politic union of 27 member states that are situated in Europe. It is the society in which the individuals come together so that peace and security can be maintained within the nations. It is an integration of the states that focuses on various histories, economies, and political systems. In the recent scenario, it has been analyzed that EU covers a majority of over 500 million populations. The creation of single currency depends mainly on the unions to achieve success in the respective economies. There are also many other nations who rely on the EU trade, finance and also investment.  EU has a great force on the global political arena. European Union was started on 1 November 1993 in Maastricht, Netherlands (Hill & Vanhoonacker, 2017).

The European Unit was established with the motive to the aim of ending the frequent and wars which take place between the neighbors and which resulted in the Second World War. In 1950, it has been seen that European coal and steel community started to unite with the European countries economically and also on a political basis so that peace can be maintained. The motto of European Union is related with "Unity in Diversity". It first came in 2000. It shows that how the Europeans came together in the form of EU and worked with peace and also it has been enriched by the continents that consist of many different culture, traditions, and language. The goal of the European Union is to promote the rights of the human both internally and externally on a global basis. The values of the EU are related to the freedom, human dignity and also respect for human rights (Greenwood, 2017).

The role of European Union in trade and business is related to the right to support to export and import the products freely. The European Union focuses on business trading in which the European economic area and turkey have the right to export and also import the overall products or the goods. It has also been analyzed that European Union is considered as the biggest trader in the world.

The basic principle of the EU is to conduct free trade among its members and also it is linked with the committed liberalizing world. EU is the largest exporter of the manufactured goods and services and the products are imported over 1000 countries (Telo, 2016). It is also the biggest single market area. Both the European and also international customers avail the benefit of a simplified system in the area where individuals, products, and money can freely move. It has been analyzed that EU negotiates the agreements with the help of a worldwide network of the trade relations. There is partner involved with the help of free trade agreements. These partnership helps to grow and also the jobs for the Europeans by focusing on the new market on the global basis.  The trade policy of EU helps to minimize the child and forced labor and also the price volatility. The schemes help to ensure the overall transparency and also trace the overall supply chains. The policy of EU focuses on combining the trade and development. It gives assistance to the small export business and also advice in the overall improvement so that growth can be achieved (Woolcock, 2016).

World trade organization

World Trade Organization is an inter-governmental company that regulated the international trade. WTO trading system is the overall fact that boosts the growth of the economy and also assists the countries to develop. Commerce and development are beneficial for each other.   It has been seen that the agreements of WTO are full of provisions that consider the overall interest of the developing countries. World trade is founded on the overall rules that help to consider that trade agreement and the overall obligations of the nations are fair and open (Baldwin, 2016).

It has been evaluated that world trade organization has the responsibility to deal with the rules of trade between the nations on a global basis. WTO assists to solve the conflicts between the different nations and also offer forums for confirming the trade agreements and also their implementation (World Trade Organization, 2017).

 The main motive of WTO is to assist trade flow so that free trade conflicts can take place with the objective related to legal and environmental aspects. The main function of the WTO is to ensure that the international companies are dealing with the global rules of trade between the nations. The role is to ensure the proper trade flow in a smooth and in a free manner. It helps in trade between nations by focusing on trade without discrimination. It has been seen that under the agreement of WTO the countries are not able to discriminate between the partners related to trading (Flento & Ponte, 2017).

The equality is maintained by the company so that trade can take place in a proper manner. It has also seen that the products which are imported and produced locally are given equal treatment and also the help is given to the new foreign good entered in the market. It has also been analyzed that system helps to manage the disputes to be handled in a proper manner. There could be trade liberalization and expansion but policies are implemented to manage the conflicts. It has also been seen that WTO is only the company that offers global international delaying by considering the rules related to trade between the countries.

The negotiation is done and also the rules are created.  It ensures that global trade takes place in a proper manner and also it helps to predict in a proper manner. The WTO creates and considers the rules of global trade-related with the member of the nation. It also offers a system for international commence (Matsushita, Schoenbaum, Mavroidis & Hahn, 2015). So, it can be concluded that WTO is considered as a company that helps in conducting the trading between the countries.

References

Baldwin, R. (2016). The World Trade Organization and the future of multilateralism. Journal of Economic Perspectives, 30(1), 95-116.

Flento, D., & Ponte, S. (2017). Least-developed countries in a world of global value chains: are WTO trade negotiations helping?. World Development, 94, 366-374.

Greenwood, J. (2017). Interest representation in the European Union. Macmillan International Higher Education.

Hill, C., & Vanhoonacker, S. (2017). International relations and the European Union. Oxford University Press.

Matsushita, M., Schoenbaum, T. J., Mavroidis, P. C., & Hahn, M. (2015). The World Trade Organization: law, practice, and policy. Oxford University Press.

Telo, M. (2016). Introduction: Globalization, new regionalism and the role of the European Union. In European Union and New Regionalism (pp. 25-46). Routledge.

Woolcock, S. (2016). European Union economic diplomacy: the role of the EU in external economic relations. Routledge.

World Trade Organization (Ed.). (2017). A Handbook on the WTO Dispute Settlement System. Cambridge University Press.