Page 59 4— The European Union The European Union (EU) was the first regional trade agreement to adopt regionwide 'competition policy'. The EU is also the most important case among the regional trading agreements of policies to promote competition because of the deep integration in the area, which includes competition law and other policies which impact upon competition, and because of the large number of countries now involved in these policies. The 1957 Treaty of Rome contains several chapters relating to competition law. This gives competition law in the EU a constitutional basis which is unique among the regional trading agreements with elements of regional competition law. This chapter provides a broad review of the policies of the EU which impact on competition, focusing on the international dimensions of competition law at the EU level. Policies to Promote Competition at the EULevel The EU has developed a broad set of policies which promote competition in EU markets for all goods and services and factors. They encompass both public and private actions. The foundation of these policies is the Common Market. Along with common policies in designated areas, the Common Market was the vehicle for the economic integration planned in the Treaty of Rome. The Treaty guaranteed freedom of movement within the area of goods, services, persons and capital, that is, the establishment of a Common Market. Border barriers to the movement of produced commodities and nonproduced factors were removed by the end of the initial ten year...
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