The EU was established by the Treaty of Maastricht on 1 November 1993 upon the foundations of the pre-existing European Economic Community.
With almost 450 million citizens, the EU combined generates an estimated 30% share (US$18.4 trillion in 2008) of the nominal gross world product.
It enacts legislation in justice and home affairs, including the abolition of passport controls by an agreement between the member states which form the Schengen Area.
Other political institutions of the AU include the Executive Council, made up of foreign ministers, which prepares decisions for the Assembly; the Permanent Representatives Committee, made up of the ambassadors to Addis Ababa of AU member states; and the Economic, Social, and Cultural Council (ECOSOCC), a civil society consultative body.
The UNASUR Constitutive Treaty was signed on May 23, 2008, at the Third Summit of Heads of State, held in Brasília, Brazil.
The headquarters of the planned Bank of the South (BancoSur) were to be located in Caracas, Venezuela but have been delayed for numerous reasons.
As an intergovernmental organization, the council's focus is on political dialogue relating to the upholding of human rights, democracy and the rule of law in Europe.
As an intergovernmental organization, the OAS's focus is on political dialog relating to the purposes of regional solidarity, peace, and cooperation among the states of the Americas.
As an intergovernmental organization, the PIF's focus is on political dialog relating to the enhancement of cooperation and economic and social well-being among states within the Pacific Ocean.
In Canadian history and political science, the term "Continental Union" refers to the idea of creating a union between Canada and the United States, either by forming a new, super-national body in which both countries would become equal members, or by the United States annexing Canada.