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What You Need To Know About The Single Market
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In order to make sure that there will be no obstacles when it comes to the movement of goods and services, it is very important that there will be one territory minus the internal borders and that is what the single market is all about. Helping cut the price, improves efficiency, raises quality and stimulates the competition in trade is what a good single market platform can do. One of the greatest achievements if the EU is the European single market. The life of European business and consumers have been made easy because of this aspect. Learn more about European Commission, go here.
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In order to make sure that the full potential of the market is unlocked, the European Commission started to create the single market. There are times that the benefits of the single market are not felt it is because there are rules that are not being implemented. The undermining being done by other barrier is also known to be the reason also. That is why because of these reasons, the commission is now making way on how to boost the mobility of the service providers. It is through this that the many businesses will be able to grow which will make it easier for them to do business even across the borders and will have better access to the different goods and services that are available.
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It is the EU single market that accounts for almost 21 million small and medium business and around 500 million consumers. In order to make sure will be a high safety standard of protection for the consumers as well as a free movement of goods, it has become the main goal of the commission.
One of the most crucial factors for the single market is the services that are being rendered. It is the services that make up over 70% of the economic activity in the EU and has also been the main source of employment. Aside from the area that is already established with their products or services, the companies that are part of the EU will also be able to make their services or products be known in other parts of the EU countries.
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The voluntary technical specifications that will be applied in different products, materials, processes and services is referred to as the standards. It is by maintaining the standards that there will be a reduction of the cost, enhancement of the competition, facilitation of the different forms of innovations and it also improves the safety of these products and services for the welfare of the customers that will avail of them.