Treaty of Maastricht
Treaty of Maastricht: the treaty, concluded on 7 February 1992 between the then twelve members of the European Communities, which establishes the European Union. It entered into force on 1 November 1993. This Treaty goes beyond the Treaty of Rome in significant ways to ensure, through a single institutional framework, the consistency of European Union external activities as a whole in the context of external relations, security, economic and development policies. Responsibility for achieving this lies with the Council of the European Union, (the Council of Ministers) and the European Commission. The Treaty also replaces the term European Economic Community with European Community which is the principal pillar of the European Union. Only the European Community has a legal personality and can conclude international treaties. The Treaty also establishes a common foreign and security policy and cooperation in the fields of justice and home affairs as the two other pillars of the European Union. See also European Community and European Union treaties, Treaty of Amsterdam and Treaty of Nice.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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