Assessment of « EU Law in the global context »
The European Union attracts more and more companies in the world which are considering expansion of their operations. Indeed, the European Union accounts today for 20% of global imports and exports. That makes the European Union the first trader in the world and that is why companies from otherscountries have the desire to export their goods in Europe or even wants to establish within the territory of the European Union. This open market has brought growing prosperity to all its member states. The Union therefore takes a lead in efforts to open up world trade for the benefit of rich and poor countries.
Firstly, it is important to know how the relations between the EU and Asia are interms of trades nowadays.
It appears that EU-Asia relations are expanding rapidly, and the EU is seeking an increasingly close relationship with Asia, going beyond traditional cooperation, to economic integration and deepening of political cooperation.
For example, today, China is the single most important challenge for EU trade policy. We can say that the European Union and China are two of thebiggest traders in the world. Indeed, their bilateral trade increased by 17% in 2007 and it has more than doubled between 2003 and 2007.
China is now the EU's 2nd trading partner behind the USA and the biggest source of imports and the EU is China's biggest trading partner.
In 2008 the EU and China launched a new strategic mechanism for driving trade and economic policy. The EU's open markethas been a large contributor to China's export-led growth. The EU has also benefited from the growth of the Chinese market and the EU is committed to open trading relations with China. However it pushes China hard to trade fairly, respect intellectual property rights and meet its WTO obligations and obviously a company like Novaprise based in Asia would have to do the same if it wants to tradewith EU by exporting their goods in Europe or establishing the company in Europe.
To further strengthen political and economic relations, regular summits take place with individual countries in the ASEM framework. Furthermore, the European Commission is moving to negotiate Free Trade Agreements with South Korea, India and ASEAN, as well as Partnership and Cooperation Agreements with Asianpartners.
To meet the development challenges that lie ahead and further deepen EU-Asia relations, the European Commission has adopted 18 individual country strategies and a regional strategy, covering cooperation with Asia for the period 2007-2013, for which an amount of some € 5.2 billion has been earmarked.
Now that we know a little more about EU-Asia relations, we have to concentrate about theexpansion the company is considering.
We can wonder if the project of Novaprise would be a success by giving a critical view of the EU regulatory framework relating to the free movement of goods, persons, services and the right of establishment. How such legal regulatory framework would affect an Asian Company like Novaprise?
That is why we will try, first, to do a critical evaluation of the singleEuropean market. Then we will describe the impact the EU has on global enterprise and how this relates to the regulatory framework of the WTO.
Part 1: A critical evaluation of the single European market
The principle objective of the single market is to contribute to the design, implementation and improvement of a flexible regulatory framework providing access to the single market whileprotecting essential public requirements. The treaty wanted to promote a harmonious development of economic activities, a continuous expansion, an increase in stability, and closer relations between the states belonging to it.
The principal means of achieving this objective is to establish a Common Market and promote the use of the New Approach legislative technique and recourse to the European...