One there remains a strong commitment to the multilateral

One of the major developments
that were introduced with the Treaty of Lisbon is the further establishment of
the European Union (EU) as a global actor1. Article
206 TFEU clarifies that by “establishing a customs union … the Union shall
contribute, in the common interest, to the harmonious development of world trade,
the progressive abolition of restrictions on international trade and on foreign
direct investment, and the lowering of customs and other barriers”2. In
a more traditional field for EU foreign policy, the Treaty of Lisbon furthermore
provided for a great expansion in the EU’s foreign trade competence under the
common commercial policy (CCP). Whilst there remains a strong commitment to the
multilateral trading system (i.e. the EU’s role within the WTO), the Treaty of
Lisbon facilitates the pursuit of the interests and objectives of EU trade by
way of extending the EU’s bilateral network, and positions the EU as an actor
in international investment law.

1 Jan Wouters, Bart Van Vooren and
Steven Blockmans (eds), The EU s Role in Global Governance: The Legal Dimension
(Oxford University Press 2013).

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2 Consolidated Version of The
Treaty on the Functioning of the European Union, 2016, Official Journal of the
European Union.

One of the major developments
that were introduced with the Treaty of Lisbon is the further establishment of
the European Union (EU) as a global actor1. Article
206 TFEU clarifies that by “establishing a customs union … the Union shall
contribute, in the common interest, to the harmonious development of world trade,
the progressive abolition of restrictions on international trade and on foreign
direct investment, and the lowering of customs and other barriers”2. In
a more traditional field for EU foreign policy, the Treaty of Lisbon furthermore
provided for a great expansion in the EU’s foreign trade competence under the
common commercial policy (CCP). Whilst there remains a strong commitment to the
multilateral trading system (i.e. the EU’s role within the WTO), the Treaty of
Lisbon facilitates the pursuit of the interests and objectives of EU trade by
way of extending the EU’s bilateral network, and positions the EU as an actor
in international investment law.

1 Jan Wouters, Bart Van Vooren and
Steven Blockmans (eds), The EU s Role in Global Governance: The Legal Dimension
(Oxford University Press 2013).

2 Consolidated Version of The
Treaty on the Functioning of the European Union, 2016, Official Journal of the
European Union.

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