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
Collins Dictionary of Law © W.J. Stewart, 2006
References in periodicals archive ?
The common market of travel bureaus and tour operators will be accessible for Kyrgyzstan since December 1, 2019.
"The Common Market is often described in high moral terms but it begins to look curiously like a rich man's club in which Germany and France will can the tune, while we in Scotland will only be helping to pay the piper."
When the 1975 referendum was held, most of Labour's left wing heavyweights, like Michael Foot and Tony Benn, led the party's opposition to the Common Market, supported by most Labour constituencies and Trade Unions.
Wilson realized that the consent of the electorate should have been sought back in 72 before Heath took us into the Common Market / EEC.
Forty-odd years later the European project is unrecognisable when set against the Common Market of 1972.
"The temporary suspension of the common market had an impact on the humanitarian and recovery situation in the Abyei Area, as well as in the neighbouring areas in South Sudan, as trading activity was paused to allow for security mechanisms to be put in place prior to the resumption of the common market," party reads the 12 October statement also extended to Sudan Tribune .
The Trade Ministry announced that the file of Tunisia's membership in the Common Market for Eastern and Southern Africa (COMESA), will be presented to the meeting of the Ministers' and Heads of State's council of this group to be held in October, 2016.
When we joined the Common Market in the 1970s very few people in the UK understood they were handing over sovereignty to a un-elected commission in Brussels.
In 2013 as the Common Market continued to evolve, Crown Paints announced a 46 percent increase in pre-tax profits which it said was "buoyed by improved cash flow from operations, product innovations and expansion into the East African region."
Some of the Gulf economies have been quick to benefit from the implementation of the common market, which commenced in 2008 after its formal adoption at the GCC Summit in Doha in 2007.
The United Kingdom joined The Common Market but, since the formation of the so called European Union, we in particular have seen our authority in our own country diminish.