Osborn Word of the Week: Common Market

1 comment, posted on March 22, 2013

Common Market

The creation of the common market is one of the central tasks of the European Community, as prescribed by art.2 of the EC Treaty. The activities to fulfil this task are set down in art.3 EC and include the prohibition on customs duties, the prohibition on quantitative restrictions on exports and imports and the creation of a common commercial policy. In 1986 the Single European Act introduced the concept of the internal market, which is largely synonymous with the common market.


REUTERS/Pawel Kopczynski

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