b'5. Multinational companies and international investment in the UK There are many international companiesThe common commercial policy shall be located in the UK. There are multiple reasonsbased on uniform principles, particularly for this choice. The English language is thewith regard to. foreign direct investment, principal language of business. Further,the achievement of uniformity in measures the UKs location midway between theof liberalisation, export policy and worlds time zones, good communicationsmeasures to protect trade. The common infrastructure, and a soundand untainted commercial policy shall be conducted legal system based on Common Law. Therein the context of the principles and are others. Somewhere lurking in this partialobjectives of the Unions external action. list of factors is Britains membership of the EU. But the UKs EU membership is just oneThe effect of this clause is that the EU has of many factors. In assessing its importance,the right to involve itself, to interfere in it is important to point out that the EUsforeign direct investment in the UK. Ten years tariff wall has diminished to an average ofafter the Lisbon Treaty came into force, we around 3%, down from 20-30% when the UKstill do not know how this clause will work in originally joined the Common Market in 1973.practice. However, it is, potentially, a gigantic negative.However, the UKs EU membership has within it a possible pitfall. Here is an extract from Article 207 in the Lisbon Treaty: 6. English Common Law In addition to England and Wales there are 80 other countries whose legal systems are founded on English Common Law. Apart from England and Wales, the 10 largest economies using English Common Law (to a greater or lesser extent) appear in the table below.In addition, many international contracts specify that, if there is a dispute, it is to be governed by the laws of England and Wales. This is in large part why UK legal services contribute materially to the UK economy and tax base.146'