European Union Market

After the European Union market experienced a long war and conflict, in the mid-1940's European countries decided to find ways to strengthen the peace of the African continent and find a new way to balance payment deficiencies did. After the Second World War, Europe suffered many damage and economic downturn. They are afraid of foreign competition and are beginning to impose trade barriers such as tariffs. This should protect their domestic companies and workers from external competition.

The EU market is easy to enter. EU Member States standardize their laws to operate in a single market plan. The purpose of this program is to make projects in other EU countries as similar as possible to do business in the country of origin. The language used internationally in business is English, but when doing business there, it is still useful to understand the country's language and culture (Business Link, no date a). Eurobarometer Pool discovered that almost half EU citizens speak only one language (European Commission, 2012). Cotton-On Ltd needs to translate the website description and product description into the language of the target country so as not to miss potential customers in these markets.

The European Union has seven key decision-making bodies: the European Parliament, the European Council, the European Union Council, the European Commission, the European Union Court, the European Central Bank and the European Court of Justice. The European Commission and the European Parliament will review and revise the legislative authority jointly. Meanwhile, the Executive Committee will be conducted by the European Commission and the European Council will be enforced with limited authority (not to be confused with the above European Council). The euro area monetary policy is determined by the European Central Bank. The interpretation and application of the EU courts and treaties are guaranteed by the European Court. The EU budget will be judged by the European Audit Court. There are also a number of support agencies that provide advice to the EU and conduct business in specific areas.

Through a referendum in 1972 and 1994, the Norwegians refused to participate in the proposal of the European Union (EU). However, Norway participates in the EU single market through the European Economic Area (EEA) agreement between Iceland and Liechtenstein. The European Economic Area Convention between the European Union and the European Free Trade Union by converting "EØS-loven" to Norwegian law is a procedure for implementing EU rules in Norway and other European Free Trade Associations I will explain. Norway is a highly integrated member in most areas of the EU's domestic market. The "European Economic Area Convention" does not fully cover the fields of agriculture, petroleum, fish and others. Norway also participates in the Schengen Agreement and other intergovernmental agreements among the EU Member States.