The Banking Executive Magazine - August Issue 2022

countries by building tailor-made partnerships based on shared inter- ests and cooperation at bilateral or regional levels. TRADE The EU champions free trade. 35 million European jobs are, directly or indirectly, supported by trade with countries outside the EU. The EU fights for open, rules-based markets, a level playing field and the highest international standards across the world. The EU is the world’s largest trading power and one of the most open economies. A third of the EU’s gross domestic product depends on trade. HUMANITARIAN AID AND CIVIL PROTECTION The EU, together with its member states, is the world’s leading human- itarian aid donor, providing and co- ordinating relief assistance to people in areas hit by disasters in Europe and around the globe. FOREIGN AFFAIRS AND SECURITY POLICY The EU’s foreign and security policy enables it to speak and act in world affairs, allowing the member states to tackle challenges they cannot solve alone and ensuring the security and prosperity of EU citizens. CONCLUSION AND FUTURE WORK This article described a proposed four dimensions framework to assess where the EU is standing today. Fu- ture articles will focus in greater depth on SWOT (Strength, Weak- nesses, Opportunities and Threats) analysis to assess each of the four framework dimensions. A decision matrix will then be adopted to come up with the final assessment of where the EU is standing today. ISSUE 164 AUGUST 2022 the BANKING EXECUTIVE 15 EU ROLE IN THE WORLD Neighbourhood & enlargement policy Foreign affairs and security policy International trade Humanitarian and civil protection International partnerships STRENGTHES WEAKNESES OPPORTUNITIES SWOT THREATS Where is The EU Standing Today?