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EU stands for European Union. It is basically a political and economic organization which acts as a Union of 27 European states. EU was established in the year 1993 through the treaty of Maastricht.
Following are the successes of EU:
- Development of dingle market through standardized system of laws.
- Freedom of movement of people through single passport.
- Common trade policy.
- Common agricultural and fisheries policy.
- Common regional development policy.
- Common currency.
- Freedom of movement of capital, goods, services.
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