common market

• Wirtschaftstermin, der eine Gruppe von Ländern bezeichnet, die vereinbart haben, Zölle und Handelshemmnisse untereinander abzubauen und den freien Verkehr von Waren, Dienstleistungen, Kapital und Arbeitskräften zu gewährleisten. Historisch oft für die Europäische Wirtschaftsgemeinschaft (EWG) verwendet.

An economic term referring to a group of countries that agree to eliminate tariffs and trade barriers among themselves, allowing free movement of goods, services, capital, and labor. Often used historically to refer to the European Economic Community (EEC).

1. Economic UnionB2formal

   A group of countries that agree to eliminate tariffs and trade barriers among themselves, allowing free movement of goods, services, capital, and labor.

   Gemeinsamer Markt

   • The European Union began as a common market for coal and steel.
   • Member states of a common market benefit from reduced trade restrictions.
   • The common market helped boost economic growth across the region.