Brittisk minister: USA-avtal bra men inte tillräckligt

The European Single Market, Internal Market or Common Market is a single market that seeks to guarantee the free movement of goods, capital, services, and labour – the "four freedoms" – within the European Union (EU). The market encompasses the EU's 28 member states, and has been extended, with exceptions, to Iceland, Liechtenstein and Norway through the Agreement on the European Economic Area and to Switzerland through bilateral treaties. The market is intended to be conducive to increased competition, increased specialisation, larger economies of scale, allowing goods and factors of production to move to the area where they are most valued, thus improving the efficiency of the allocation of resources. It is also intended to drive economic integration whereby the once separate economies of the member states become integrated within a single EU-wide economy. Half of the trade in goods within the EU is covered by legislation harmonised by the EU. The creation of the internal market as a seamless, single market is an ongoing process, with the integration of the service industry still containing gaps. It also has an increasing international element, with the market represented as one in international trade negotiations.