Editing Single market (section)

==Integration phases==
{{world economic integration}}
A common market allows for the free movement of capital and services but large amounts of trade barriers remain. It eliminates all [[wikt:quota|quota]]s and [[tariff]]s{{snd}} duties on imported goods{{snd}} from trade in goods within it. However [[non-tariff barriers to trade]] remain, such as differences between the Member States' rules on product safety, packaging requirements and national administrative procedures. These prevent manufacturers from marketing the same goods in all member states.<ref name="EU history">{{cite web|title=Historical overview|url=http://ec.europa.eu/internal_market/top_layer/historical_overview/index_en.htm|publisher=European Commission|access-date=14 December 2014}}</ref> The objective of a common market is most often economic convergence and the creation of an integrated single market. It is sometimes considered as the first stage of a single market. The European Economic Community was the first large-scale example of a common market.{{efn|[[Benelux]], a customs union between [[Belgium]], the [[Netherlands]] and [[Luxembourg]] that preceded the EEC, had many of the characteristics of a common market.}}

A single market allows for people, goods, services and capital to move around a union as freely as they do within a single country – instead of being obstructed by national borders and barriers as they were in the past. Citizens can study, live, shop, work and retire in any member state.<ref name="EU Single market">{{cite web|title=One market without borders|url=http://europa.eu/pol/singl/index_en.htm|publisher=European Commission|access-date=14 December 2014}}</ref> Consumers enjoy a vast array of products from all member states and businesses have unrestricted access to more consumers. A single market is commonly described as "frontier-free".<ref name="EU history"/> However, several barriers remain such as differences in national tax systems, differences in parts of the services sector and different requirements for e-commerce. In addition separate national markets still exist for [[financial services]], [[energy]] and [[transport]]. Laws concerning the recognition of professional qualifications also may not be fully harmonized.<ref name="EU Single market"/>
The [[Eurasian Economic Union]], the [[Gulf Cooperation Council]], [[CARICOM]] and the [[European Union]] are current examples of single markets, although the [[Gulf Cooperation Council|GCC]]'s single market has been described as "malfunctioning" in 2014.<ref>{{cite magazine |magazine=Middle East Economic Survey|last1=al-Ubaydli|first1=Omar|title=GCC Single Market Failure: Problems And Solutions |url=http://www.derasat.org.bh/wp-content/uploads/2014/02/mees.pdf |date=14 February 2014 |department=Op-Ed |pages=20–21 |access-date=14 December 2014 |publisher=Middle East Petroleum and Economic Publications (Cyprus) Ltd |url-status=dead |archive-url=https://web.archive.org/web/20141214233507/http://www.derasat.org.bh/wp-content/uploads/2014/02/mees.pdf |archive-date=2014-12-14 |quote=However according to the same data source, certain figures point toward a seriously malfunctioning GCC single market}}</ref> The [[European Union]] is the only economic union whose objective is "completing the single market".

A completed, unified market usually refers to the complete removal of barriers and integration of the remaining national markets. [[Complete economic integration]] can be seen within many countries, whether in a single [[unitary state]] with a single set of economic rules, or among the members of a strong national [[federation]].  For example, the sovereign states of the [[United States]] do to some degree have different local economic regulations (e.g. licensing requirements for professionals, rules and pricing for utilities and insurance, consumer safety laws, environmental laws, minimum wage) and taxes, but are subordinate to the federal government on any matter of [[interstate commerce]] the national government chooses to assert itself.  Movement of people and goods among the states is unrestricted and without tariffs.