co-operation with partners like the US and with Japan on IPR and we have worked to protect EU geographical indications. As supply chains are globalised, the ability to invest freely in third markets becomes more important. Coherence of the Union's external policies is vital to strengthening the EU's global role. Our aims should be to influence the forces driving change, to seize the opportunities of globalisation and to manage the risks. Our external priority in this area in recent years has been to pursue an ambitious, balanced and just multilateral agreement to liberalise international trade further, opening markets in which European companies can compete and providing new opportunities for growth and development. Iii) Transatlantic Trade and Competitiveness The transatlantic trading relationship is by far the largest in the world and the heart of the global economy. Transport and logistics costs : if manufacturing takes place in one country, then it will be necessary to transport the finished products to other countries. Vi) Renewed market access strategy The EU's Market Access Strategy was launched in 1996 to help enforce multilateral and bilateral trade deals and open third country markets. We will put in place internal mechanisms to monitor the implementation and the results of new FTAs.
Consumers and other manufacturers expect the benefits of wider choice, lower prices and higher standards. 14 Trade defence instruments are part of the multilateral system and help ensure that the benefits of openness are not undermined by unfair competition. (1) See "A Citizen's Agenda for Europe adopted by the Commission in May 2006, the "EU's renewed Strategy for Sustainable Development adopted by the Council in June forex ethiopia 2006, and "Europe in the World adopted by the Commission in June (2) The accompanying staff working paper. But as tariffs fall, non-tariff barriers, such as unnecessarily trade-restricting regulations and procedures become the main obstacles. Together they now represent 15 of global trade flows.
Regulating trade is necessary, but it must be done in a transparent and non discriminatory manner, with the least restriction on trade consistent with achieving other legitimate policy objectives. Please help improve this article by introducing citations to additional sources. Many questions are left open; I look forward to seeing the responses from the Vox community. For example, the highly successful multinational company PepsiCo dominates savoury snack products around the world.
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