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Amity International Business School

Module 5

Study of Specific Markets


EU: worlds largest single market

Amity International Business School

Europes mission in the 21st century


Peace, Prosperity and Stability for its peoples; Overcome the divisions on the continent; Ensure that its people can live in safety; Promote Balanced Economic and Social Development; Meet the challenges of Globalization and preserve the diversity of the peoples of Europe; Uphold the values that Europeans share, such as sustainable development and a sound environment, Respect for human rights and the social market economy.
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HISTORY OF EU
1951: The European Coal and Steel Community is established by the six founding members: Belgium, The Federal Republic of Germany, France, Italy, Luxembourg and The Netherlands

1957: The Treaty of Rome establishes a common market European Economic Community
1973: The Community expands to nine member states and develops its common policies for social and environmental concerns Denmark, Ireland and the United Kingdom

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HISTORY OF EU contd..
1979: The first direct elections to the European Parliament The first Mediterranean enlargement Greece, followed by Spain & Portugal in 1986 made the communitys presence strong in southern Europe. Completion of the single market & The Treaty of Maastricht establishes the European Union The EU expands to 15 members Austria, Finland and Sweden
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1981:

1993:

1995 :

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HISTORY OF EU contd..
2002: Euro notes and coins were introduced 2004: Ten more countries join the Union- Cyprus, the Czech Republic, Hungary, Poland, Slovakia, Estonia, Latvia, Lithuania, Malta, Slovenia 2007: Bulgaria & Romania On path: Turkey and Croatia

The EU Headquarter Brussels, Belgium Selected as the headquarters of the European Union because of its centralized location in Europe.
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EU-A SINGLE MARKET (a) Physical barriers All border controls within the EU on goods have been abolished, together with customs controls on people. (b) Technical barriers Any product legally manufactured and sold in one member state must be allowed to be placed on the market in all others. (c) Tax barriers Tax barriers have been reduced through the partial alignment of national VAT rates. (d) Public contracts Regardless of whether they are awarded by national, regional or local authorities, public contracts are now open to bidders from anywhere in the EU.

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Economic Relations between India & EU


Trade in goods EU goods exports to India 2010: 34.7 billion EU goods imports from India 2010: 33.2 billion
Trade in services EU services exports to India 2010: 9.8 billion EU services imports from India 2010: 8.1 billion Foreign Direct Investment EU outward investment to India 2010: 3.0 billion Indian inward investment to EU 2010: 0.6 billion
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EU-India trade has grown impressively and more than doubled from 28.6billion in 2003 to over 67.9 billion in 2010. EU investment to India has more than tripled since 2003 from 759million to 3 billion in 2010 and trade in commercial services has tripled from 5.2billion in 2002 to 17.9 billion in 2010.

Bi-lateral Agreements in force


The EU and India already signed a number of bilateral agreements. These include the following: Agreement in Sugarcane (in force since 18 July 1975) 1994 co-operation Agreement (signed on 20 December 1993) Science & Technology Agreement (signed on 23 November 2001) Customs Co-operation Agreement (signed on 28 April 2004)
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In 2004 India became one of the EU's "strategic partners". The EU-India FTA: Negotiations for such FTA were launched in June 2007 and, so far, eleven negotiating rounds have been held. The last EU-India Summit took place on 10 December 2010 in Brussels.

EU is providing trade related technical assistance to India. 13.4million were allocated through the Trade and Investment Development Programme (TIDP) funded from the Country Strategy Paper (CSP) 2002-2006. At present, the follow-up programme to the TIDP is being designed and will be funded by the Country Strategy Paper 2007-2013.

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