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 ?
Over the next 42 years however, the Common Market was side-lined and morphed into the EEC, the European Economic Community.
That constant attempt to water down our resolution to leave by trying to pass off the Common Market as just a synonym for free trade is either loose thinking or an attempted deception.
The UN peace keeping body in Abyei further argued that in order to promote a shared sense of ownership by both communities of the common market, it facilitated joint peace committee meetings between the Ngok Dinka and Misseriya at Todach in the central sector on 21 and 28 July.
The Common Market for Eastern and Southern Africa (COMESA) is International organization with a regional focus in East Africa with the objective of creating a customs union among its twenty members.
Fast forward 40 years and the Common Market has morphed into the EU, a political union which seeks ever greater political and fiscal integration together with expansion of its members and borders.
Four of the EAC countries, Kenya, Uganda, Rwanda and Burundi, are also members of the Common Market for Eastern and Southern Africa (Comesa) trading bloc, which seeks to achieve a fully integrated, competitive and unified single economic bloc of 18 countries.
Among other things, the common market placed emphasis on numerous fundamental principles, namely an unrestricted access for:
Europe has to change get rid of the plutocrats in Brussels and revert to the origins of The Common Market.
All the anti-British rules they quote also apply to the whole of the common market - we are not being selected for punishment.
European countries established the EU after the Second World War; on the onset, it was a difficult enterprise; it is however possible for Islamic countries, provided that they show strong resolution in working out the common market," he emphasized.
Summary: A trade agreement between Lebanon and Mercosur, also known as the common market of South America, is to be signed next month in Argentina, Ambassador Ricardo Larriera said Monday.
On the other hand, GCC co-operation has reached a stage that requires radical decisions on the common market.