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It is the largest exporter of manufactured products and services globally and the largest market for imports for more than 100 nations. One of the tenets on which the European Union was founded was free commerce among its members. This is made feasible by the single market. The European Union is dedicated to liberalizing international commerce as well as inside its boundaries.
What is the European Union?
The European Union (EU), which consists of 27 member nations mostly in Europe, is a transnational political and economic union. There are around 447 million people living in the union, which has a total size of 4,233,255.3 km2 (1,634,469.0 sq. mi). The EU has frequently been referred to be a political body sui generis (without precedent or reference) that combines the traits of a federation and a confederation.
With a population of 5.8% of the world's total in 2020, the EU produced a nominal gross domestic product (GDP) of around US$17.1 trillion in 2021, or about 18% of the world's nominal GDP. Furthermore, according to the United Nations Development Programme, the Human Development Index is exceptionally high for all EU member states. Its cornerstone, the Customs Union, cleared the way for the development of an internal single market based on a standardized legal framework and legislation that is applicable in all member states in those, and only those, areas where the states have decided to act as one. Common policies on trade, agriculture, fisheries, and regional development are maintained by EU policies, which also seek to safeguard the free movement of people, commodities, services, and money inside the internal market. For travel within the Schengen Area, passport requirements have been eliminated. The 19 member nations of the EU that have fully adopted economic and monetary union and utilize the euro make up the eurozone. The union has established a position in defence and international relations through the Common Foreign and Security Policy. It has permanent diplomatic posts all throughout the globe and represents itself in the UN, the WTO, the G7, and the G20. The European Union has been referred to by some academics as a rising superpower because of its worldwide reach.
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why is the eu so successful in forcing countries to comply fully with the criteria for joining?
