1341:
1229:
1389:
1302:
1186:
1242:
1315:
764:
1328:
66:
1259:
1094:
1212:
1020:
enjoy a vast array of products from all member states and businesses have unrestricted access to more consumers. A single market is commonly described as "frontier-free". However, several barriers remain such as differences in national tax systems, differences in parts of the services sector and different requirements for e-commerce. In addition separate national markets still exist for
736:. The goal is that the movement of capital, labour, goods, and services between the members is as easy as within them. The physical (borders), technical (standards) and fiscal (taxes) barriers among the member states are removed to the maximum extent possible. These barriers obstruct the freedom of movement of the four factors of production (goods, capital, services, workers).
1354:
1174:(and could therefore continue in business despite falling short of international performance benchmarks) may struggle to survive against their more efficient peers, even for its traditional markets. Ultimately, if the enterprise fails to improve its organization and methods, it will fail. The consequence may be unemployment or migration.
1158:
Consumers are benefited by the single market in the sense that the competitive environment brings them cheaper products, more efficient providers of products and also increased choice of products and their quality. What is more, businesses in competition will innovate to create new products; another
1019:
A single market allows for people, goods, services and capital to move around a union as freely as they do within a single country – instead of being obstructed by national borders and barriers as they were in the past. Citizens can study, live, shop, work and retire in any member state. Consumers
1015:
remain, such as differences between the Member States' rules on product safety, packaging requirements and national administrative procedures. These prevent manufacturers from marketing the same goods in all member states. The objective of a common market is most often economic convergence and the
1150:
For both business within the market and consumers, a single market is a competitive environment, making the existence of monopolies more difficult. This means that inefficient companies will suffer a loss of market share and may have to close down. However, efficient firms can benefit from
1075:
do to some degree have different local economic regulations (e.g. licensing requirements for professionals, rules and pricing for utilities and insurance, consumer safety laws, environmental laws, minimum wage) and taxes, but are subordinate to the federal government on any matter of
743:
is usually referred to as the first stage towards the creation of a single market. It usually is built upon a free trade area with no tariffs for goods and relatively free movement of capital, workers and services, but not so advanced in reduction of
1162:
Single market play significant role in increasing prosperity of nations involved in this area. For example, single market helps
European Union to achieve annual growth of GDP with 2.2% p.a. between 1992 and 2006, rise in employment and job creation.
1155:, increased competitiveness and lower costs, as well as expecting profitability to increase as a result. This is true especially for companies selling goods and services easily distributed all around the countries of single market.
1146:
A single market has many benefits: with full freedom of movement for all the factors of production between the member countries, the factors of production become more efficiently allocated, further increasing productivity.
942:
1663:"FACTBOX-East African common market begins – Member states will have to make several changes to their national laws to allow full implementation of the common market in areas such as immigration, labour and customs"
1276:
1250:
1177:
National participation into single market opens political debates, about skills loss through worker migration from less developed countries, and wage suppression in countries to which they migrate.
1016:
creation of an integrated single market. It is sometimes considered as the first stage of a single market. The
European Economic Community was the first large-scale example of a common market.
1280:
1246:
992:
1166:
Transition to a single market can have a negative impact on some sectors of a national economy due to increased international competition. Enterprises that previously enjoyed
1340:
1335:(CSME) – Originally envisioned to be complete by 2008, it has since been delayed and is now envisioned to have free movement of people between willing member states by 2021.
755:
is the last stage and ultimate goal of a single market. It requires the total free movement of goods and services, capital and people without regard to national boundaries.
934:
1714:
970:
938:
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518:
918:
878:
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930:
679:
491:
129:
1548:
1754:
1233:
978:
839:
1707:
1080:
the national government chooses to assert itself. Movement of people and goods among the states is unrestricted and without tariffs.
548:
466:
1596:
1332:
1133:
819:
531:
332:
124:
1003:
A common market allows for the free movement of capital and services but large amounts of trade barriers remain. It eliminates all
1619:
1059:
A completed, unified market usually refers to the complete removal of barriers and integration of the remaining national markets.
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785:
513:
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498:
184:
1792:
1202:
781:
390:
312:
214:
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However according to the same data source, certain figures point toward a seriously malfunctioning GCC single market
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31:
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926:
922:
717:
596:
591:
478:
408:
239:
1185:
1032:. Laws concerning the recognition of professional qualifications also may not be fully harmonized. The
1872:
1864:
1849:
1844:
1723:
1011: – duties on imported goods – from trade in goods within it. However
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616:
294:
289:
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626:
57:
1401:
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1021:
725:
611:
453:
229:
139:
1559:
1592:
1558:. Middle East Petroleum and Economic Publications (Cyprus) Ltd. pp. 20–21. Archived from
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448:
194:
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896:
709:
641:
606:
204:
94:
1823:
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418:
355:
119:
104:
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651:
543:
375:
360:
209:
199:
149:
114:
48:
1902:
1777:
1167:
1072:
1064:
892:
771:
around the World (each country colored according to the most integrated multilateral
538:
443:
433:
365:
279:
274:
174:
134:
763:
65:
1818:
1813:
461:
380:
269:
189:
1479:
1692:
1433:
1376:
1093:
805:
428:
144:
1067:
with a single set of economic rules, or among the members of a strong national
1731:
1437:
1068:
1056:
is the only economic union whose objective is "completing the single market".
772:
729:
705:
438:
284:
109:
17:
1368:
1029:
471:
413:
1525:
1440:
that preceded the EEC, had many of the characteristics of a common market.
1258:
1190:
835:
793:
1429:
1425:
1171:
1118: in this section. Unsourced material may be challenged and removed.
1041:
219:
1004:
1372:
1052:'s single market has been described as "malfunctioning" in 2014. The
1025:
1008:
179:
89:
84:
1184:
762:
1348:(GCC) – Not yet a common market, though integration is continuing
1296:(AEC) – established, but common market integration target is 2025
1405:
797:
1696:
1277:
Common
Economic Space of the Commonwealth of Independent States
1251:
Common
Economic Space of the Commonwealth of Independent States
1087:
154:
64:
30:"Common market" redirects here. Not to be confused with
1063:
can be seen within many countries, whether in a single
712:) with some common policies on product regulation, and
1462:"Trade: Chapter 110-2: Economic Integration: Overview"
1637:"The ASEAN Economic Community: what you need to know"
1048:
are current examples of single markets, although the
1281:
Single
Economic Space of the Eurasian Economic Union
1247:
Single
Economic Space of the Eurasian Economic Union
708:
in which most trade barriers have been removed (for
1863:
1832:
1806:
1768:
1730:
1549:"GCC Single Market Failure: Problems And Solutions"
27:
Type of trade bloc with most trade barriers removed
1520:
1518:
1589:Theory and Practice of International Economic Law
1708:
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673:
8:
1495:
1493:
1071:. For example, the sovereign states of the
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993:
979:
680:
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42:
1134:Learn how and when to remove this message
1453:
1418:
56:
1400:intended to be implemented across the
1359:Latin American Integration Association
1547:al-Ubaydli, Omar (14 February 2014).
7:
1116:adding citations to reliable sources
25:
1333:CARICOM Single Market and Economy
333:International Chamber of Commerce
1591:. Malthouse Press. p. 279.
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1394:Free Trade Area of the Americas
1103:needs additional citations for
1688:Economic Integration: Overview
1234:Central American Common Market
36:Common market (disambiguation)
1:
1798:Complete economic integration
1724:Forms of economic integration
1396:– proposed trade bloc at the
1367:– proposed by politicians in
1061:Complete economic integration
1840:Economic integration effects
1526:"One market without borders"
1365:Commonwealth free trade area
1013:non-tariff barriers to trade
919:Multilateral free-trade area
409:Intellectual property rights
1793:Economic and monetary union
1587:Usman, Adamu Kyuka (2017).
1556:Middle East Economic Survey
1203:economic and monetary union
782:Economic and monetary union
775:that it participates in):
391:Economic and monetary union
313:International Monetary Fund
250:Voluntary export restraints
1925:
1788:Customs and monetary union
1428:, a customs union between
1320:African Economic Community
1205:includes a common market.
1168:national market protection
867:Customs and monetary union
386:Customs and monetary union
328:World Customs Organization
318:International Trade Centre
29:
1855:Theory of the second best
1740:Preferential trading area
802:Switzerland–Liechtenstein
351:Preferential trading area
1615:enforced 1 January 1973
1346:Gulf Cooperation Council
1294:ASEAN Economic Community
1038:Gulf Cooperation Council
632:Balassa–Samuelson effect
627:Ricardian trade theories
514:Largest consumer markets
323:World Trade Organization
1159:benefit for consumers.
1034:Eurasian Economic Union
647:Lerner symmetry theorem
1643:. World Economic Forum
1398:Summit of the Americas
1307:East African Community
1279:(overlapping with the
1264:Southern Common Market
1249:(overlapping with the
1221:European Economic Area
1217:European Single Market
1194:
1181:List of common markets
1000:
622:Gravity model of trade
519:Leading trade partners
424:Government procurement
225:Exchange rate controls
69:
34:. For other uses, see
32:European Common Market
1635:Lehmacher, Wolfgang.
1622:27 March 2009 at the
1528:. European Commission
1503:. European Commission
1501:"Historical overview"
1466:internationalecon.com
1383:but never implemented
1188:
766:
718:factors of production
602:Heckscher–Ohlin model
597:Competitive advantage
592:Comparative advantage
479:Trade and development
240:Countervailing duties
68:
1909:Economic integration
1850:Harmonisation of law
1845:Friction of distance
1750:Economic partnership
1641:World Economic Forum
1112:improve this article
769:economic integration
746:other trade barriers
617:Intra-industry trade
345:Economic integration
295:Economic integration
290:Economic nationalism
1673:on 18 January 2012.
1565:on 14 December 2014
1078:interstate commerce
714:freedom of movement
696:, sometimes called
245:Anti-dumping duties
185:Non-tariff barriers
130:Import substitution
1755:Passport-free zone
1402:Western Hemisphere
1195:
1153:economies of scale
1084:Benefits and costs
1022:financial services
1001:
759:Integration phases
612:Economic geography
419:Competition policy
215:Technical barriers
195:Tariff-rate quotas
140:Trade facilitation
125:Export orientation
70:
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637:Linder hypothesis
449:Emissions trading
16:(Redirected from
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1669:. Archived from
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210:Export subsidies
95:Balance of trade
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1824:Political union
1807:Shared policies
1802:
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1745:Free-trade area
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1189:Common market:
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1223:– Switzerland)
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1054:European Union
1046:European Union
998:
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816:Economic union
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753:unified market
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1124:December 2018
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1101:This section
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1073:United States
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1065:unitary state
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893:Customs union
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868:
856:
851:
850:Common market
841:
837:
833:
829:
825:
821:
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799:
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791:
787:
783:
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770:
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758:
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749:
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741:common market
737:
735:
731:
727:
723:
719:
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699:
698:common market
695:
694:single market
683:
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480:
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473:
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465:
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455:
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444:Trade justice
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434:Globalization
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412:
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389:
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307:Organizations
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303:
296:
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288:
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280:Laissez-faire
278:
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275:Protectionism
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259:
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251:
248:
246:
243:
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223:
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208:
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198:
196:
193:
191:
190:Import quotas
188:
186:
183:
181:
178:
176:
173:
172:
169:
164:
163:
156:
153:
151:
148:
146:
143:
141:
138:
136:
135:Trade finance
133:
131:
128:
126:
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118:
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111:
108:
106:
103:
101:
98:
96:
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91:
88:
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82:
79:
74:
73:
67:
63:
62:
59:
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52:
50:
45:
44:
41:
37:
33:
19:
1819:Social union
1814:Fiscal union
1759:
1671:the original
1666:
1657:
1645:. Retrieved
1640:
1630:
1607:
1588:
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1574:
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1560:the original
1555:
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1505:. Retrieved
1483:
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1196:
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1130:
1121:
1110:Please help
1105:verification
1102:
1058:
1018:
1002:
857:–Switzerland
849:
752:
750:
740:
738:
701:
697:
693:
691:
462:Currency war
381:Fiscal union
370:
270:Mercantilism
168:Restrictions
46:
40:
1883:Middle East
1569:14 December
1532:14 December
1507:14 December
1434:Netherlands
1404:(excluding
1377:New Zealand
467:Trade costs
429:Outsourcing
145:Trade route
58:World trade
1732:Trade bloc
1448:References
1438:Luxembourg
1266:(Mercosur)
1069:federation
767:Stages of
730:enterprise
706:trade bloc
532:By country
439:Fair trade
285:Free trade
235:Safeguards
110:Trade bloc
105:Trade pact
1554:. Op-Ed.
1413:Footnotes
1408:) by 2005
1369:Australia
1030:transport
773:agreement
728:) and of
554:Argentina
472:Trade war
414:Smuggling
100:Trade law
1903:Category
1620:Archived
1611:Initial
1379:and the
1288:Proposed
1191:Mercosur
1044:and the
836:Mercosur
794:Eurozone
734:services
559:Pakistan
49:a series
47:Part of
1865:Regions
1430:Belgium
1426:Benelux
1361:(ALADI)
1172:subsidy
1042:CARICOM
1009:tariffs
963:SADCFTA
923:AANZFTA
722:capital
716:of the
569:Vietnam
564:Romania
509:Tariffs
504:Exports
499:Imports
263:History
230:Embargo
220:Bribery
180:Tariffs
1873:Europe
1833:Theory
1647:4 July
1595:
1432:, the
1373:Canada
1236:(CACM)
1197:Every
1036:, the
1026:energy
1005:quotas
939:COMESA
935:CISFTA
917:
915:
891:
889:
865:
863:
848:
846:
814:
812:
780:
778:
726:labour
586:Theory
403:Issues
90:Export
85:Import
78:Policy
1563:(PDF)
1552:(PDF)
1322:(AEC)
1309:(EAC)
971:USMCA
967:SAFTA
955:PAFTA
951:GAFTA
943:CPTPP
931:CEFTA
927:ASEAN
879:UEMOA
871:CEMAC
710:goods
574:India
492:Lists
1649:2020
1593:ISBN
1571:2014
1534:2014
1509:2014
1436:and
1406:Cuba
1201:and
1028:and
1007:and
959:RCEP
947:EFTA
909:SACU
905:EUCU
840:SICA
824:EAEU
820:CSME
786:ECCU
732:and
724:and
458:War
1613:FTA
1114:by
1050:GCC
901:EAC
897:CAN
883:XOF
875:XAF
855:EEA
832:GCC
806:CHF
798:EUR
790:XCD
700:or
155:Tax
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