- 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 freedom 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. 2001.
- Common Market
The common market of the European Community.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
Look at other dictionaries:
common market — common markets 1) N COUNT A common market is an organization of countries who have agreed to trade freely with each other and make common decisions about industry and agriculture. ...the Central American Common Market. 2) N PROPER: the N The… … English dictionary
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common market — n. 1. an association of countries formed to effect a closer economic union, esp. by means of mutual tariff concessions 2. [C M ] the European Economic Community … English World dictionary
Common market — An agreement between two or more countries that permits the free movement of capital and labor as well as goods and services. The New York Times Financial Glossary * * * Common Market ˌCommon ˈMarket noun a former name for what became known as… … Financial and business terms
common market — An agreement between two or more countries that permits the free movement of capital and labor as well as goods and services. Bloomberg Financial Dictionary * * * Common Market ˌCommon ˈMarket noun a former name for what became known as the… … Financial and business terms
common market — UK / US noun [countable] Word forms common market : singular common market plural common markets business an economic organization, usually consisting of several countries, whose aim is to encourage free trade between its members … English dictionary
common market — noun a group of countries imposing few or no duties on trade with one another and a common tariff on trade with other countries. ↘(the Common Market) a name for the European Economic Community or European Union, used especially in the 1960s and… … English new terms dictionary
Common Market — noun the Common Market old fashioned the European Union … Longman dictionary of contemporary English
common market — An international *market created by the reduction or elimination of *customs duties and other trade formalities between nations. Examples of common markets include the Andean Pact, originally founded in 1969, and the European Union, an earlier… … Auditor's dictionary