common market


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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 ?
We fully share the concerns raised by Singapore's Senior Minister Lee Kuan Yew that unless ASEAN gets its act together to forge a common market, foreign investors which flew out of the region after the 1997 crisis might not be encouraged to reconsider returning to this part of the world.
In working-level talks at the ministry, Japan and Mercosur -- a common market comprising Argentina, Brazil, Paraguay and Uruguay -- signed a document aimed at activating dialogue and promoting closer cooperation between the two parties, the official said.
* The Southern Common Market - Argentina, Brazil, Paraguay, and Uruguay - has added Chile as an associate member and is courting Bolivia, Mexico, and Venezuela.
Under NAFTA's North American common market, Mexico has, for trade purposes, become a part of the USA.
Anchored at the Mississippi Delta, the Mid-South Common Market is made up of 105 counties in Arkansas, Mississippi, Tennessee, Missouri, Kentucky and Alabama.
Within this Common Market, requirements for consistent standards also became apparent.
In the 70s the country had a referendum as to whether we stay or leave the said Common Market.
Since we joined a "Common Market" we have lost millions of jobs starting with our fishing industry, which Edward Heath gave away in order to gain membership to the Common Market.
During the Seventies we voted to join the Common Market. Even then Callaghan's Government had crises after crisis as we had only just joined ans d it took time to feel our way into the Common Market.
David Lidington will underscore government determination to protect the "common market of the UK".
Summary: Tunisia would join the Common Market for Eastern and Southern Africa (COMESA) in October," said Secretary-General Sindiso Ndema Ngwenya following a meeting Sunday with Premier Youssef Chahed in Dar Dhiafa,
The Permanent Secretary, Trade and Investment, Ministry of Industry, Trade and Investment, Prof Adolph Mkenda said this amid a dialogue on Challenges in Expanding Intra-Regional Trade and Investment Flows in the EAC Common Market held in Dar es Salaam over the weekend.

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