The European Union (EU) is a political and economic union of 27 member states located primarily in Europe. It was established to promote peace, stability, and economic cooperation among its members, allowing for the free movement of people, goods, services, and capital across borders. The EU operates through a system of supranational institutions and intergovernmental negotiations, with key bodies such as the European Commission, European Parliament, and European Council. It plays a significant role in shaping policies on trade, environment, and human rights, making it a vital player on the global stage.