This book retraces the Communities' external liberalisation efforts, and discusses, where relevant, the repercussions of internal liberalisation on foreign competitors. The aim of this book is to clarify, and when feasible, to quantify the economic effects of the EU’s trade policies. To this end, it provides an overview of past liberalisation efforts, reviews trade indicators in international comparison and lays out the future trade agenda of the Community. According to the empirical evidence provided in this volume, integration in Europe does not seem to have entailed much trade diversion, while trade is likely to have boosted area-wide income significantly. It is openness in general, rather than regional integration, that has favoured growth in Europe.