Definition of common market in English:

common market

noun

  • 1A group of countries imposing few or no duties on trade with one another and a common tariff on trade with other countries.

    • ‘What progress had been made towards the creation of a common market before the single market initiative?’
    • ‘Indeed, common markets, be they national or otherwise, are exercises in the prevention of certain sorts of competition as well as the encouragement of other forms.’
    • ‘‘In a globalising world of common markets and trade agreements, alcohol policy is thus no longer only a national or sub-national matter,’ he said.’
    • ‘There is no doubt that there are some advantages to having a single currency throughout the European common market.’
    • ‘But they are working together in the European Union, gaining from a single currency and a common market.’
    • ‘These rules have created a common market with strong internal competition.’
    • ‘Certainly, political union and a common market require a uniform frame of reference to prevent major distortions in competition.’
    • ‘Finally, if restrictions on the mobility of factors of production are eliminated, a common market is established.’
    • ‘First, equality of opportunity must be preserved for all commercial operators in the common market.’
    • ‘The EU is destined to become what big business have always wanted it to be, just a common market.’
    • ‘Thirty years ago, we joined a common market that was little more than a free trade area.’
    • ‘It required that companies in the common markets for steel and coal publish price lists.’
    • ‘One of those is that goods sold in one Member State by the proprietor should flow freely and without hindrance throughout the common market.’
    • ‘The keys to success are a common market, non-competing products or services, shared values and comparable resources.’
    • ‘Which means that certain institutional changes within Europe, as existing in an expanded common market, must occur.’
    • ‘Corporate behaviour adjusted so rapidly to the prospect of the common market that companies became impatient to see the benefits of the deals concluded and of the new investments made.’
    1. 1.1 A name for the European Economic Community or European Union, used especially in the 1960s and 1970s.

Pronunciation

common market