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GOOD MORNING A Very Warm Welcome to you all

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Presentation By Ankit Goyal Juliet Chettiar

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THE EUROPEAN UNION 53 Years of Peace, Prosperity and Partnership

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What is the European Union? <ul><li>The European Union ( EU ) is an economic and political union of 27 member states which are located primarily in Europe. </li></ul><ul><li>Largest regional economic body in the world. </li></ul><ul><li>World’s most open market for goods and commodities from developing countries. </li></ul>27 8 16.48 Trillion USD 501 million Member States Combined population of EU Member States Percent of world’s population Total GDP

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The EU Symbols The European Flag The European anthem Europe Day, 9 May The motto: United in diversity

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Rome Treaty 1957 Founding Members Belgium France Germany Italy Luxembourg Netherlands

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Factors Leading to formation of EU <ul><li>In the aftermath of World War II, the aim was to secure peace among Europe’s victorious and vanquished nations and bring them together as equals, cooperating within shared institutions. </li></ul><ul><li>Based on a plan by French Foreign Minister Robert Schuman. </li></ul><ul><li>Six founding countries – Belgium, the Federal Republic of Germany, France, Italy, Luxembourg and the Netherlands – signed a treaty to run heavy industries (coal and steel) under common management. </li></ul>Jean Monnet and other leaders with the first “European” ingot of steel

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Treaty of Rome 1957 <ul><li>Elimination of tariff, quotas and other barriers. </li></ul><ul><li>Common policy on agriculture, transport. </li></ul><ul><li>Free movement of productive factors. </li></ul><ul><li>Common internal tariff on imports from other countries. </li></ul><ul><li>Harmony in policies on taxation, monetary and social security. </li></ul>Signing of the Treaty of Rome

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Rome Treaty 1957 Founding Members Belgium France Germany Italy Luxembourg Netherlands

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The European Union in 2011

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Objectives of European Union <ul><li>Obstacle free import and export within the union. </li></ul><ul><li>Free movement of capital and income. </li></ul><ul><li>Regional funds for development of certain countries. </li></ul><ul><li>Greater monetary and fiscal co-ordination among members. </li></ul><ul><li>Common industrial policies for countries outside the community. </li></ul>European Union United in diversity

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The EU Institutions

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Effects of European Union on Europe <ul><li>Since the creation of the EU half a century ago, Europe has enjoyed the longest period of peace in its history. </li></ul><ul><li>European political integration is unprecedented in history. </li></ul><ul><li>EU enlargement has helped overcome the division of Europe – contributing to peace, prosperity, and stability across the continent. </li></ul><ul><li>A single market and a common currency conditions for companies and consumers. </li></ul>European Union

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The EU and the next seven largest economies in the world by GDP

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Benefits reaped from the EU <ul><li>Elimination of transaction costs among the member countries. </li></ul><ul><li>Economic boost due to economics of scale. </li></ul><ul><li>Increase in competition intensity. </li></ul><ul><li>Free movements of goods, capital and labour. </li></ul>European Union

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Benefits of the single market

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The €uro In 1999, the euro area was established as a currency in eleven of the then fifteen EU Member States. Of the 27 EU Member States today, fifteen have adopted the euro. One of the striking benefits of a single European currency are low interest rates due to a high degree of price stability. The euro is as stable and credible as the best-performing currencies previously used in the euro area countries. € € € €

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United in Diversity - The €uro

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How does the EU spend its money? Natural resources: agriculture, environment 41% The EU as a global player: including development aid 6% Citizens, freedom, Security and justice 1% Other, administration 6% Sustainable growth: jobs, competitiveness, regional development 46% 2011 EU budget: € 141.9 Billion

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India-EU Trade <ul><li>The EU is India's largest trading partner, accounting for 20% of Indian trade. </li></ul><ul><li>India accounts for only 1.8% of the EU's trade. </li></ul><ul><li>Trade between the two has crossed 55 billion Euros mark. </li></ul><ul><li>Plan to achieve 100 billion Euros turnover by 2012. </li></ul>

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India’s Import from EU <ul><li>India’s import in 2009 Rs.2,23,820 crores. </li></ul><ul><li>Major Imports include edible oils, capital goods, aluminium & copper products, synthetic rubber, optical instruments. </li></ul><ul><li>EU’s share in India’s Import ranges between 17-23 percent. </li></ul><ul><li>Also receives technology & development aid from the EU. </li></ul>

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India’s Export to EU <ul><li>India’s export in 2009 Rs.2,16,380 crores. </li></ul><ul><li>Major Exports include textiles, jute, leather, diamonds, chemicals, marine products. </li></ul><ul><li>EU’s share in India’s export ranges between 21-25 percent. </li></ul><ul><li>Position of trade with EU is generally of deficit. </li></ul>

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The EU is a global player. Its soft power promotes stability, prosperity, democracy and human rights, delivers concrete results in the fight to eradicate poverty, and in achieving sustainable development. UN Secretary General Ban Ki-moon , High Representative for the Common Foreign and Security Policy Javier Solana , and EU Commissioner Benita Ferrero-Waldner The EU in the World

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Challenges before the EU <ul><li>Demography </li></ul><ul><li>European live longer, have fewer children. </li></ul><ul><li>Globalization </li></ul><ul><li>Intense competition from other parts of the world. </li></ul><ul><li>Climate Change </li></ul><ul><li>Emission of green house gases must come down. </li></ul>

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Thank You