common market

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Related to the Common Market: European Common Market

common market

a market where obstacles to free movement of the important sectors of the economy have been removed. Although a general term in economics, it is of special significance to lawyers as one of the foundations of the European Union. In the European Economic Community Treaty, the essential part of the Common Market was expressed as involving four freedoms: free movement of goods, free movement of persons, free movement of services and of establishment and free movement of capital. It also requires more positive steps, and these are reflected in policies: the Common Agricultural Policy, the transport policy and competition policy. The single European act prescribed a timetable for the single internal market. In the UK, in common parlance, the term Common Market is still erroneously or mischievously used of the European Union itself
References in periodicals archive ?
The GCC states are all sovereign and it is up to the leadership in each state to decide when and how it implements the agreements on the common market, but I have no doubt that the leadership of every country is committed to moving forward with this.
Stop the euro and get Britain out of the Common Market.
The Halifax says there is no real evidence that membership of the Common Market has had either a significantly positive or negative impact on house prices.
Francis B Willmott, Birmingham 5 The Birmingham Mail, July 7, 1960 We finally joined the Common Market, the forerunner of the EU, in 1973.
I think that, if it is to work fairly, the common market needs common rules to make a level playing field for our companies, to protect consumers from being ripped off by international scams, to protect our firms from unfair competition, to ensure that workers' rights are not undermined, and to face down multinational companies when they abuse their position.
In a large part the common market does work, but what we're basically trying to put in place is a system where it's as easy to export from Coventry to Copenhagen as it is from Coventry to Carlisle.
OGC seeks sponsoring organizations to further shape the common market vision and technology objectives for this important initiative.
Yet today we are being sought by one or more of the original participants in the Common Market because Great Britain is still an industrial power to be reckoned with and accepted as a co-partner.
The meeting stressed the important role of the private sector in economic and social development projects to create new job opportunities especially after announcing the common market.
AHEAD OF THE CURVE: As far back as our April 10, 1989 issue, THE NEW AMERICAN pointed out that membership in the Common Market (or European Community), the precursor of the European Union, would transfer vast new powers from sovereign nations to a new supranational authority.
Political observers predicted the way had been cleared for Britain to join the six member nations of the Common Market.