Single Market and Economy

A Single Market is an agreement among countries to create a unified area where goods, services, people, and capital can move freely without tariffs or significant restrictions. This aims to boost trade and economic cooperation among member countries. For example, the European Union functions as a Single Market, allowing businesses to operate easily across borders. A strong Single Market fosters competition, lowers prices, and enhances consumer choices, while also attracting investment. In essence, it simplifies economic interactions, benefiting both businesses and consumers within the participating regions.