Introduction

The external trade policy of the European Union (EU) involves nearly one-fifth of world trade. Hence an understanding of the principles and practice of EU trade policy, the Common Commercial Policy (CCP), is of vital importance for understanding the EU’s role and impact on the global economy.

With growing trade, falling transaction costs, better information and communication technologies, global economic integration is increasing; ‘globalization’ is on the rise (if one wanted to be trendy). Global production chains are common in most industries and are essential for maintaining competitiveness. Thus the EU’s external trade policy has an increasing role to play in promoting the competitiveness of the European industries and ensuring EU economic growth.