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Anatomy of a Regional Trading Bloc : The European Union (from the date of Formation to the year 2003)
European Union the Formation
Originally the European Coal and Steel Community (ECSC) was formed with the then West Germany, France, Italy Belgium, Netherlands and Luxembourg in 1952. The aim of the ECSC was to eliminate import duties and quotas on coal, iron ore, steel and scrap regarding the international trade among the member countries. The successful functioning of ECSC stimulated the member countries to extend this facility to all commodities by the Treaty of Rome in 1957. This treaty gave birth to European Economic Commission or other wise Known as European Union.
The European Econ…
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