The European Union (EU) is a supranational economic and political organization of 27 member states, located primarily in Europe. It was established on It was established by the Treaty of Maastricht in 1993 upon the foundations of the pre-existing European Economic Community. In the initial stage it was include 15 countries and later on it included UK.
Sixteen member states have adopted a common currency, the euro. It has developed a role in foreign policy, representing its members in the World Trade Organization, at G8 summits, and at the United Nations.
The United Kingdom has a mixed economy that is the fifth largest in the world in terms of market exchange rates and the sixth largest by purchasing power parity (PPP). It is considered the second largest economy in Europe after Germany's Its GDP PPP per capita in 2007 is the 22nd highest in the world. The United Kingdom is one of the world's most globalised countries. The capital, London (see Economy of London), is a major financial centre of the world, in front of New York City, Hong Kong and Singapore according to a report compiled by the City of London. The British economy is made up (in descending order of size) of the economies of England, Scotland, Wales and Northern Ireland. In 1973, the UK acceded to the European Economic Community which is now known as the European Union after the ratification of the Treaty of Maastricht in 1993.
The European Union has various policies but it maintains 2 policies on trade
1. Agriculture policy
2. Fisheries Policy
Agriculture policy
Agricultural policy describes a set of laws relating to domestic agriculture and imports of foreign agricultural products. Governments usually implement agricultural policies with the goal of achieving a specific outcome in the domestic agricultural product markets. Outcomes can involve, for example, a guaranteed supply level, price stability, product quality, product selection, land use or employment.
The creation of a common...