Analysis Of The Single European Act ( Sea ) For A Business Seminar On The Single Market

In order to understand the evolvement of the Single Market of the European Union, one has to take the general background into consideration. Therefore, it is important to have a look at the Treaty on European Union (Maastricht Treaty) which gave birth to the creation of the Single Market. Having been the Common Market before the Maastricht treaty, the European Economic Community (EEC) Treaty already clarified the objective of cooperation between member states. Throughout the Single Market, those objectives should be transformed into reality.

In considering the international realm, let’s consider the concept of economic treaties. Specifically, let's think about an organization like the European Union (EU). Why was it formed? In addition, what are some of the objectives of the nations that are joining the EU?

The benefits of the single market for BP include: the creation of trade - falling costs and prices, due to the greater exploitation of comparative advantage. This means that currently BP can focus at a relatively low price, which provide goods and services in the EU. BP also distribution costs will fall, because it will be a full range of prices. Reducing barriers to direct costs - the single market so that BP has its own administrative costs, border delays and technical regulations cost savings. The elimination of border controls of cross goods and services with lower costs, shorten lead times, thus establishing a larger room for vendor selection. Border delays often lead to much confusion BP oil services. Although BP is their energy and fuel suppliers are still some vendors offered their goods stations. Adverse regional

The Internal Market of the European Union (EU) is one of Europe’s significant achievements and its greatest resource in times of modern globalisation. Since its creation in 1993, the Internal Market has opened itself more to competition, created jobs and reduced many trade barriers. It is the principal instrument for building a stronger and fairer economy in the EU. It assures the free movement of people, services, goods and capital, and by doing so, creates fresh opportunities for businesses and consumers. The Treaty on the Functioning of the European Union adopts measures with the aim of combining national markets in a single market with the characteristics of a domestic market. The vision is that it should be as easy to trade between London and Madrid as it is between London and Manchester.

Moving on to the economic union that is a type of trade bloc comprised of a common market with a customs union. The member countries have common policies in few sectors, which involved, product regulation, freedom of movement of goods, services and factors of production such as capital and labour, and common external trade policy.

Properly defined, the Single Market is a common regulatory area. A country is either part of it, or it is not. If it is not, then it can trade with the countries forming the Single Market, on defined terms. But for the most part those countries which have trading privileges are not required to accept the full freedoms.

One of the aims of setting up the Eurozone common market was to all for

The EU has delivered more than half a century of peace, stability and prosperity, helped raise living standards and launched a single European currency: the Euro. The core values of the EU are Human dignity, freedom, democracy, equality, the rule of law and respect for human rights. Furthermore, The EU takes on the many responsibilities that include, human rights, policy areas, from climate, environment and health to external relations and security, justice and migration. The EU is an organization of countries that follow a cooperative political economic system. According to The Global Organization Series: The European Union, these individual countries voluntarily give up some power over their own territories to cooperate with other countries in order to make decisions together (11). This concept creates a free trade zone for the European Union’s political and economic community.

Although Norway’s economy is integrated in the market of the European Union [EU], it is still one of the countries not formally included in this organization. Previously known as the European Economic Commission in 1972, Norway did not join the EU. In 1994, Norway once again rejected membership to the European Union based on a referendum: 47.6% voted yes but 52.4% voted no to membership of the EU. Instead, Norway signed the European Economic Area Agreement (EEA). This Agreement guarantees the internal market’s four freedoms: the free movement of goods, people, services and capital. Signing this agreement was a smart and calculated choice because Norway has benefited from trade advantages while averting regulation enforced by the EU, and

In the aftermath of the 1957 Treaty , the European Economic Community (EEC) was established and customs barriers between the member states have been abolished. Member States throughout the Community, can “promote a harmonious development of economic activities, a continuous and balanced expansion, an increased stability, an accelerated raising of the standard of living and closer relations between them”. Therefore, in order for a common market to be established between Member States, the Community enacted some legislative provisions which aimed to a true harmonization of laws; incorporate different legal systems under a basic legal framework. The main issue arising is whether these legal provisions in accordance with the case law, ensured the free movement of goods within this market.

One of the main objectives of the European Union (EU) is the establishment of the internal market, which shall consist of “area without internal frontiers in which the free movement of goods, persons, services and capital is ensured. The internal market is based upon a customs union achieved through the abolition of the imposition of customs duties and charges having an equivalent effect and the prohibition of discriminatory taxes on intra-EU imports. The internal market is enhanced by the provisions on free movement of workers, freedom of establishment, free movement of services, and free movement of capital. Whereas Articles 28 to 30 of the Treaty on the Functioning of the European Union (TFEU) provide for the establishment of an EU common external tariff and the elimination of customs duties, Articles 34 and 35 of the TFEU (with exceptions under Article 36) go further, and prohibit quantitative restrictions and measures having equivalent effect. Taken together, Articles 28 to 32 and 34 to 36 serve to ensure the free movement of goods within the EU and to facilitate the operation of the internal market.

The single European Market is the singular territory barring any internal borders or regulatory fetters to prevent a free movement of goods and services . The SEM was first instated in 1st July 1987, and fully coming into force on the 1st July 1992. The SEM effects were to encourage healthy competition within the EU, raise the quality of goods and service, and improve their efficiency and to keep prices or products and services low. This concept has been a great success as due to the raise in economic growth the movement of people which has made the European Union’s society easier to function from a business perspective and a consumer’s perspective.

the European Union. For industry, a set of common guidelines would reduce costs and facilitate

Within the EU itself the idea of building a Single (Common) Market for goods and services, without discrimination across national borders, underpins the idea that EU Competition Law and Policy are instrumental in achieving market integration. It would be wrong to think of EC competition policy merely as an instrument designed to bring about structural change. Rather, the promotion of competition as a process and an economic system is inextricably intertwined with the goal of market integration [and

Today, The Single European Market otherwise known as the (Internal Market) grants people and businesses with the privilege to trade and move openly across borders within the EU. This has had a huge impact on the world we live in today it altered the way Europeans live, travel and work also to study and do business. The concept of setting up a European Single market is to bring unity to the EU; this encounters money, goods, people, and services to collaborate freely to arouse competition and trade. The next multi-annual Single Market strategy is booked for adoption in 2007 previous to conception by the commission in 1985; since more areas have been added to the primary list of countries joining this has implemented regulatory and legal barriers this is to sustain to the exclusion of other barriers of an economic. Physical (infrastructure), linguistic cultural or nature.