Common Commercial Policy
Common Commercial Policy: under Article 133 of the Treaty of Amsterdam (which amends Article 113 of the Treaty of Rome), the member states of the European Community conduct a common commercial policy based on uniform principles, particularly in regard to changes in tariff rates, the conclusion of tariff and trade agreements, the achievement of uniformity in measures of liberalization, export policy and measures to protect trade, such as those to be taken in the event of dumping or subsidies. Agreements on trade in services and the commercial aspects of intellectual property are subject to the common commercial policy, but only to the extent that they do not go beyond the Community’s internal powers. The policy is administered by the European Commission. Member states do not have the authority to change unilaterally the common external tariff or to enter into trade agreements with other countries. There are highly developed internal consultative mechanisms, such as the Article 133 Committee, under which member states may bring forward proposals for changes to the common commercial policy. See also common agricultural policy.
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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