Common Market
Common Market
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Summary of Common Market
A supranational organization of trading nations, created to promote economic collaboration and minimize constraints on the free movement of goods among the member states. Features of a common market include elimination of tariffs on goods moving between member states; adoption of a common external tariff; and free flow of capital and labor among members
. In addition, a common market is apt to possess common monetary and fiscal policies, regional plans for industrial and agricultural development, and uniform rules for social services; it may exhibit movement toward political unification. See Customs Union And Free Trade Area.
(Main Author: William J. Miller)
Common Market and the GATT Policy Negotiations
In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Common Market: A group of countries formally committed to the unrestricted movement of goods, services, and factors of production traded among themselves. Features of a common market include elimination of tariffs and other barriers to internal trade, including harmonization of national standards that regulate the sale and distribution of goods; establishment of a common external tariff; and abolition of capital controls and restrictions on labor mobility among members
. A common market may seek to harmonize macroeconomic policies or promote political unification, but this is not a necessary feature. See also customs union and economic union.
Common Market in International Trade
Meaning of Common Market, according to the Dictionary of International Trade (Global Negotiator): A common market (as opposed to a free trade area) has a common external tariff and may allow for labour mobility and common economic policies among the participating nations. The common market has the same features as a customs union, but, in addition, factors of production (labour, capital and technology) are mobile among members. Restrictions on immigration and cross-border investment are abolished. See economic integration.
Common Market
Embracing mainstream international law, this section on common market explores the context, history and effect of the area of the law covered here.
The Common Market and Europe
There is an entry on the common market in the European global legal platform (publication).
Resources
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Including similar content viewed by others, in case you missed it:
International Organization
Foreign Relations
Intergovernmental Organization
Regional Organization
Regional Integration
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Professional Content and Learning Tools
Lawi offers educational solutions and professional insight, integrating content, tools, and practical technology to promote lifelong learning, personal and professional improvement, and human progress through knowledge. Our collections feature resources and solutions from a wide range of subject areas, from management and finance to law and cybersecurity. This text is only a brief introduction. If you would like us to expand on this content, please let us know in the comments. If you’re finding our platform and newsletters valuable, share it with a colleague or friend, leave a comment and consider subscribing if you haven’t already (thanks!). There are group discounts, gift options, and referral bonuses available.
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Resources
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Lawi offers educational solutions and professional insight, integrating content, tools, and practical technology to promote lifelong learning, personal and professional improvement, and human progress through knowledge. Our collections feature resources and solutions from a wide range of subject areas, from management and finance to law and cybersecurity. This text is only a brief introduction. If you would like us to expand on this content, please let us know in the comments. If you’re finding our platform and newsletters valuable, share it with a colleague or friend, leave a comment and consider subscribing if you haven’t already (thanks!). There are group discounts, gift options, and referral bonuses available.
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Further Reading
Entry "The Common Market" in the work "A Concise Encyclopedia of the European Union from Aachen to Zollverein", by Rodney Leach (Profile Books; London)
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Lawi offers educational solutions and professional insight, integrating content, tools, and practical technology to promote lifelong learning, personal and professional improvement, and human progress through knowledge. Our collections feature resources and solutions from a wide range of subject areas, from management and finance to law and cybersecurity. This text is only a brief introduction. If you would like us to expand on this content, please let us know in the comments. If you’re finding our platform and newsletters valuable, share it with a colleague or friend, leave a comment and consider subscribing if you haven’t already (thanks!). There are group discounts, gift options, and referral bonuses available.
Resources
Professional Content and Learning Tools
Lawi offers educational solutions and professional insight, integrating content, tools, and practical technology to promote lifelong learning, personal and professional improvement, and human progress through knowledge. Our collections feature resources and solutions from a wide range of subject areas, from management and finance to law and cybersecurity. This text is only a brief introduction. If you would like us to expand on this content, please let us know in the comments. If you’re finding our platform and newsletters valuable, share it with a colleague or friend, leave a comment and consider subscribing if you haven’t already (thanks!). There are group discounts, gift options, and referral bonuses available.
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Further Reading
The entry "common market" in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the Encyclopaedic Dictionary of International Law, 2009), Oxford University Press
Hierarchical Display of Common market
Economics > Economic structure > Economic system
Economics > Economic policy > Economic policy > Economic integration
Trade > International trade > Trade relations > Trade agreement
Common market
Concept of Common market
See the dictionary definition of Common market.
Characteristics of Common market
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Professional Content and Learning Tools
Lawi offers educational solutions and professional insight, integrating content, tools, and practical technology to promote lifelong learning, personal and professional improvement, and human progress through knowledge. Our collections feature resources and solutions from a wide range of subject areas, from management and finance to law and cybersecurity. This text is only a brief introduction. If you would like us to expand on this content, please let us know in the comments. If you’re finding our platform and newsletters valuable, share it with a colleague or friend, leave a comment and consider subscribing if you haven’t already (thanks!). There are group discounts, gift options, and referral bonuses available.
Translation of Common market
Spanish: Mercado común
French: Marché commun
German: Gemeinsamer Markt
Italian: Mercato comune
Portuguese: Mercado comum
Polish: Wspólny rynek
Thesaurus of Common market
Economics > Economic structure > Economic system > Common market
Economics > Economic policy > Economic policy > Economic integration > Common market
Trade > International trade > Trade relations > Trade agreement > Common market
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