The European Union's (EU) Common Commercial Policy, or EU Trade Policy, is the policy whereby EU Member States delegate authority to the European Commission to negotiate their external trade relations, with the aim of increasing trade amongst themselves and their bargaining power vis-à-vis the rest of the world. The Common Commercial Policy is logically necessitated by the existence of the Customs Union, which in turn is also the foundation upon which the Single Market and Monetary Union were later established.
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In this Dossier
EU's common commercial policy in the context of Common Commercial Policy
A common commercial policy involves several states coordinating some or all aspects of their trade policy.
It is sometimes agreed by treaty within a customs union. In the case of the European Union, a form of the EU's common commercial policy has been in place since 1957.