ABSTRACT
Integration schemes need to define rules not only for their internal functioning, but also for their external relations. In this chapter, the author explains the fundamental principles and describes the European Union (EU) regime in its international institutional setting. Two sections are devoted to the common external trade policy, one to the objectives and instruments and the other to the specific relations with different groups of trading partners. The EU has developed from a customs union via a common market into an economic and monetary union and is on the move towards a political union. The increased role of the EU in economic and in foreign and security matters has led to a new type of external relations of the EU. The author reviews other development aid and economic policies such as labour and capital movements, international economic and monetary coordination. He examines external policies less associated with economic issues, such as foreign and defence policy.
