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 Form 4 Geography online lessons on trade

Role of the European Union in the economy of Europe.

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Answer Text:
Role of the EU in the Economy of Europe.
- Expansion of trade: This has occurred due to the creation of the internal market and adoption of a common currency.
- Finance: The union has established financial institutions e.g the European Investments Bank (E.I.B).
- Expansion of labour market: It has promoted free movement of workers in the region.
- Promotion of agriculture: It has promoted agriculture in the region by giving grants to members and subsidizing farm produce.
This has made their farm products to be highly competitive on the world market.