For instance, MNCs operating in sectors, viz., automotives, metals and chemicals proved to be quite sensitive to adverse shocks of recent global crisis (UNCTAD, 2009) 8. Hence, even though direct investment is generally undertaken with lasting interest in the host economy, companies, need to recognise the degree of sensitivity of their business activity to the global business cycle as well.
By contrast, it will be much more important on the external side to present the union as a single economic area and, politically, as an economic power factor. To do this, it will be necessary to develop the relevant arrangements and to strengthen the political representation of the currency area on the external side.