This report is designed to shed some light on the KOREU FTA for Congress.4 It briefly reviews EU-South Korean economic ties and the respective EU and South Korean objectives regarding the KOREU FTA. It then discusses the KOREU FTA in general and examines some of its major provisions in more detail, with special focus on autos and some other manufacturing sectors, agriculture, services, and labor-areas of particular interest to U.S. policymakers and the U.S. business community. The report does not attempt to determine if one FTA is better than the other. Finally, the report analyzes the prospects for the KOREU FTA and the agreement's potential implications for the United States.
This report describes the European Union (EU), its evolution, governing institutions, trade policy, and efforts to forge common foreign and defense policies. The report also addresses the EU-U.S. and EU-NATO relationships, which may be of interest to the second session of the 110th Congress. It will be updated as events warrant. For more information, see CRS Report RS21344, European Union Enlargement, by Kristin Archick, and CRS Report RL34381, European Union-U.S. Trade and Investment Relations: Key Issues, coordinated by Raymond Ahearn.
The 785-member, directly elected European Parliament (EP) is a key institution of the 27-member European Union (EU). Once limited to being a consultative assembly, the EP has accumulated more power over time. Currently, it plays a role in the EU's legislative and budgeting processes, and exercises general supervision over other EU bodies. Ties between the EP and the U.S. Congress are long-standing, and EPCongressional exchanges are expected to continue in the second session of the 110th Congress.
Report which discusses issues related to the North Atlantic Trade Organization (NATO) and the European Union (EU) including the level of involvement of the entities in using political and military actions to defend against terrorism and proliferation, the types of military forces necessary, the role of the EU in crisis management, the appropriateness of decision-making procedures to respond to emerging threats, and the role of other international institutions.
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