External trade is one of the key components to making the EU so successful. Through out the years trade outside of the EU has been increasing and it is the largest trader in the world accounting for upto 20% of all global imports. Creating an equal import duty has been key for the European Union and has allowed all of its member countries to import good from abroad at the same price no mater which port of call you use. Goods can be bought and sold without tariff any where in the EU which has mad raw material sourcing much easier and allowed for better product output to the rest of the world. The EU strives to make the best deals with leading importing nations such as China, Japan and the USA which help it become the world market leader.
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April 21, 2009
Trading Abroad
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