Advanced English Dialogue for Business – European economic community

Listen to a Business English Dialogue About European economic community

Ella: Hi Jordan, have you heard about the European Economic Community (EEC) in business and finance?

Jordan: Yes, I have. The EEC was a regional organization formed in 1957 to promote economic integration among its member states in Europe.

Ella: That’s right. The EEC aimed to create a common market, allowing for the free movement of goods, services, and people among member countries.

Jordan: Did the EEC lead to the formation of the European Union (EU)?

Ella: Yes, the EEC was one of the precursor organizations that eventually evolved into the European Union in 1993 with the signing of the Maastricht Treaty.

Jordan: I see. So, the EU builds upon the foundations laid by the EEC for economic cooperation and integration among European nations?

Ella: Exactly. The EU expanded on the EEC’s objectives to include areas like monetary union, common policies, and cooperation on various political and social issues.

Jordan: Are all European countries part of the EU?

Ella: No, not all European countries are members of the EU. Some countries, like Switzerland and Norway, are not part of the EU but may have agreements for economic cooperation with the Union.

Jordan: Thanks for explaining, Ella. I have a better understanding of the European Economic Community and its role in European integration now.

Ella: No problem, Jordan. I’m glad I could help. Let me know if you have any more questions about business and finance topics.