Definition of single market in US English:
single market
nounˈsɪŋɡəl ˈmɑrkətˈsiNGɡəl ˈmärkət
An association of countries trading with each other without restrictions or tariffs. The European single market came into effect on January 1, 1993.
Example sentencesExamples
- 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.
- The single market, or internal market as it is also known, builds upon the customs union that was established in the 1960s.