ABSTRACT
Trade liberalization in the European Community is important and instructive for the international economy in several ways. Its importance derives from the fact that its internal (cross-frontier) product trade amounts to some 18 per cent of world trade; together with its external trade, the share rises to roughly 36 per cent. This makes the Community by far the largest trader in the world economy. Its behaviour and its influence in GATT and OECD will greatly affect the prospects for and the route towards free trade.
