European Union (EU)

About the EU

The European Union (EU) is a politico-economic union of 28 member states that are located primarily in Europe. It has an area of 4,324,782 km2, and an estimated population of over 508 million. The EU has developed an internal single market through a standardised system of laws that apply in all member states. EU policies aim to ensure the free movement of people, goods, services, and capital within the internal market, enact legislation in justice and home affairs, and maintain common policies on trade, agriculture, fisheries, and regional development. Within the Schengen Area, passport controls have been abolished. A monetary union was established in 1999 and came into full force in 2002, and is composed of 19 EU member states which use the euro currency.

The EU operates through a hybrid system of supranational and intergovernmental decision-making. The seven principal decision-making bodies—known as the institutions of the European Union—are the European Council, the Council of the European Union, the European Parliament, the European Commission, the Court of Justice of the European Union, the European Central Bank, and the European Court of Auditors.

The EU traces its origins from the European Coal and Steel Community (ECSC) and the European Economic Community (EEC), formed by the Inner Six countries in 1951 and 1958, respectively. The community and its successors have grown in size by the accession of new member states and in power by the addition of policy areas to its remit. The Maastricht Treaty established the European Union in 1993 and introduced European citizenship. The latest major amendment to the constitutional basis of the EU, the Treaty of Lisbon, came into force in 2009. On 23 June 2016, the United Kingdom voted by referendum to leave the EU.

EU member countries

The EU was not always as big as it is today. When European countries started to cooperate economically in 1951, only Belgium, Germany, France, Italy, Luxembourg and the Netherlands participated….

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Selected Topics

The EU is active in a wide range of topics. Below are the topics relevant to the trade and investment between Vietnam – EU. Click on a topic title below…

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