One pursuit of the interests and objectives

One of the major developmentsthat were introduced with the Treaty of Lisbon is the further establishment ofthe European Union (EU) as a global actor1. Article206 TFEU clarifies that by “establishing a customs union … the Union shallcontribute, in the common interest, to the harmonious development of world trade,the progressive abolition of restrictions on international trade and on foreigndirect investment, and the lowering of customs and other barriers”2. Ina more traditional field for EU foreign policy, the Treaty of Lisbon furthermoreprovided for a great expansion in the EU’s foreign trade competence under thecommon commercial policy (CCP). Whilst there remains a strong commitment to themultilateral trading system (i.e.

the EU’s role within the WTO), the Treaty ofLisbon facilitates the pursuit of the interests and objectives of EU trade byway of extending the EU’s bilateral network, and positions the EU as an actorin international investment law.1 Jan Wouters, Bart Van Vooren andSteven Blockmans (eds), The EU s Role in Global Governance: The Legal Dimension(Oxford University Press 2013).2 Consolidated Version of TheTreaty on the Functioning of the European Union, 2016, Official Journal of theEuropean Union.One of the major developmentsthat were introduced with the Treaty of Lisbon is the further establishment ofthe European Union (EU) as a global actor1. Article206 TFEU clarifies that by “establishing a customs union … the Union shallcontribute, in the common interest, to the harmonious development of world trade,the progressive abolition of restrictions on international trade and on foreigndirect investment, and the lowering of customs and other barriers”2.

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Ina more traditional field for EU foreign policy, the Treaty of Lisbon furthermoreprovided for a great expansion in the EU’s foreign trade competence under thecommon commercial policy (CCP). Whilst there remains a strong commitment to themultilateral trading system (i.e. the EU’s role within the WTO), the Treaty ofLisbon facilitates the pursuit of the interests and objectives of EU trade byway of extending the EU’s bilateral network, and positions the EU as an actorin international investment law.1 Jan Wouters, Bart Van Vooren andSteven Blockmans (eds), The EU s Role in Global Governance: The Legal Dimension(Oxford University Press 2013).2 Consolidated Version of TheTreaty on the Functioning of the European Union, 2016, Official Journal of theEuropean Union.

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