The European Union has brought prosperity to the European market. The E.U made special arrangements and treaties between countries that they could never go against each other. There was peace everywhere which resulted in prosperity in European markets. For example France, Italy, Belgium, Luxemburg and Germany signed a treaty in the year 1951 to club all their coal and steel markets. In the year 1957, a very important treaty called the Treaty of Rome was signed to form The European Economic Community, commonly known as the ECC. This laid a foundation for a common market for all the European Union countries. The ECC made many reforms in the European markets. It eliminated all the tariffs or duties on the imported goods. This single market soon became a realism practice after the European Union Single European act in 1986. The European commission and The Council of Ministers are responsible for the major decisions taken for the European markets. These bodies update the policies on a regular basis and regulate all the market strategy. The common market also produced thousands of jobs for the natives of Europe. It also formulated a citizen’s agenda to promote economic integration.
This single European market also provides certain freedom to the member states. The chief liberty involves the freedom of goods. The European Union states that a nation’s main responsibility is take care of its citizens and their needs. Therefore, the proposal for removing the national barrier for the free movement of goods between E.U countries was detached. This lead to the freedom of goods: only in exceptional cases, like the vehicles, chemicals, cosmetics, footwear, textile, toys, gas appliances, pharmaceutical products and all the construction material. The European Union only regulates the higher risk product sectors. All the lower risk segments are managed by the local bodies. The main function of The European Union is to harmonize the trade process in European markets. The European Commission monitors the movement of goods in both harmonized and non harmonized markets.
Other than providing a single market for goods, The E.U provides single market for services as well. This allows one member nation to provide services to another member nation, where it is not even customary. These services include financial services, broadcasting, telecommunication and other services. The single market depends on services, goods, capital and people. And the European Union Commission makes sure that there is a healthy business environment so that The European markets can compete at their best with the global markets.
Posted under Europe
This post was written by admin on April 6, 2009



