A Formal Report Format For A Business Seminar

1529 Words Feb 23rd, 2016 7 Pages
In this report I will be explaining why and how the single market has developed, in a formal report format, for a Business Seminar. I will be evaluating the Single European Act and the workings of the Internal Market. I will analyse and evaluate how far any recent changes have succeeded and the likelihood of future changes being successful.

2.0 The Setting up of the Single Market
The Single European Market (SEM) came into force through the single European Act Signed in July 1987. It began in 1957 when the Treaty established the European Economic Community (ECC). This treaty stated that the six founding members (Belgium, France, Germany, Italy, Luxemburg and the Netherlands) were to abolish customs barriers within the community and create a common customs tariff (Customs Union) that will be applied to goods from non-EEC countries. This was successful and was achieved on 1, July 1968.
It was in January 1993, that the Single Market became a reality for the 12 member states at that time. The aim of the SEM was to remove the physical, technical and financial barriers in the European Union area. To remove the financial barrier, one of the regulations of the SEM included abolishing tax when trading. In addition, it involved the free movement of people, goods, services and capital.

3.0 How the SEM works
The EU is the world’s largest export and the second largest importer. It accounts for more than one-fifth of all global trade and claims a higher share of the US.…

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