Chapter 4 The European Union and Other Regional Trade Agreements

Question 1

What is the origins of the EU?

Answer 1

The European Coal and Steel Community (ECSC), in 1952 its members were France, Belgium, Germany, Italy, Luxemburg and the Netherlands Then in 1957 they signed the Treaty of Rome of creating the European Economic Community (EEC)

Question 2

What was the significance of the Maastricht Treaty?

Answer 2

Signed in 1993- gave birth to the EU, created the concept of the three pillars

Question 3

Why is CETA significant for Canadian businesses?

Answer 3

It removes 98% of duties, taxes and other import fees on goods traded between the EU and Canada