European Union (EU)

Organization Name

European Union (EU)

Description

The European Union (EU) is a political and economic union of 27 member states located primarily in Europe, operating an internal single market through a system of laws applicable in all member states.

Key Facts

Founded: 1 November 1993 (Maastricht Treaty; its predecessor, the European Communities, formed 1957)
Members: 27 member states (the UK left in 2020, known as Brexit)
Commission President: Ursula von der Leyen (Germany), serving her second term (2024–2029); first woman to hold the post
Headquarters: Brussels, Belgium (primary); Strasbourg (Parliament); Luxembourg (Court)
Currency: Euro (€) used by 20 Eurozone members
Population: Approximately 450 million
Nobel Peace Prize: Awarded in 2012

Nepal Relevance

The EU is Nepal's major trading partner and development aid donor. The EU grants GSP+ trade preferences to Nepal.

Headquarters

Brussels, Belgium

Founded Year

1993

Current Head/SG

Ursula von der Leyen

Category

Regional