Single Market and Economy (SME)

A Single Market and Economy (SME) refers to a region where goods, services, labor, and capital move freely without barriers like tariffs or checkpoints. This concept is often associated with entities like the European Union, enabling member countries to trade more easily and efficiently. Ultimately, the goal of an SME is to promote economic growth, improve competition, and enhance consumer choice by creating a unified market. Businesses can operate across borders with fewer regulations, fostering innovation and collaboration among countries. Overall, SMEs aim to bolster economic cooperation and integration among member states.