EUROPEAN ECONOMIC COMMUNITY (EEC)

EUROPEAN ECONOMIC COMMUNITY (EEC)

Formation: The European Economic Community (EEC) was established by the Treaty of Rome, Italy in 1957 by six European countries. These countries were France, West Germany, Italy, Belgium, The Netherlands and Luxemburg.

when saw European economic community formed

The EEC actually became a reality on 1st of January, 1958 after the national parliaments of the six countries ratified the Rome Treaty with overwhelming majority. Denmark, Britain and Ireland later joined the EEC in 1973, thereby, increasing its membership to nine

Objectives and functions of EEC

  1. To adopt a common tariff policy
  2. To eliminate barriers to free mobility of labour and capital between member-states
  3. To adopt a common transport policy among member-nations
  4. To eliminate trade restrictions, thereby ensuring free trade between member-nations
  5. Removing existing obstacles to guarantee a steady expansion, a balance trade and fair competition
  6. To strengthen the solidarity which binds European and overseas countries and to ensure the development of their economies
  7. To strengthen the unity of their economies and ensure harmonious development
  8. To ensure the economic and social progress of the member-countries
  9. To fix the currencies of member nations with minimal adjustment, with a possibility of adopting a common currency known today as the Euro
  1. 7. COMPOST
    8. WEED AND THEIR BOTANICAL NAMES
    1. ENVIRONMENTAL FACTORS AFFECTING AGRICULTURAL PRODUCTION
    2. DISEASES
    3. 52. SOIL MICRO-ORGANISMS
    4. ORGANIC MANURINGION

    9. loans for businesses
  2. how to establish enterprises
  3. what is a firm
  4. price equilibrium
  5. scale of preference
  6. concept of economics
  7. economic tools for nation building

budgeting

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