Definition of single market in English:

single market

noun

  • An association of countries trading with each other without restrictions or tariffs. The European single market came into effect on 1 January 1993.

    • ‘The single market, or internal market as it is also known, builds upon the customs union that was established in the 1960s.’
    • ‘In theory, this is one of those times when the European single market proves its worth.’
    • ‘In 1988 the Cecchini report looked at the advantages of cooperation for a European single market.’
    • ‘The reason for this is Bulgaria's internally increasing use of the rules of the European single market.’
    • ‘Important, though much less visible, have been the social policy effects of the single market's development itself.’

Pronunciation:

single market

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