![]() free trade: International trade free from government interference, especially trade free from tariffs or duties on imports.Ī common market is a first stage towards a single market and may be limited initially to a free trade area with relatively free movement of capital and of services, but not so advanced in reduction of the rest of the trade barriers.The main aim of the EEC, as stated in its preamble, was to “preserve peace and liberty and to lay the foundations of an ever closer union among the peoples of Europe”.The European Economic Community (EEC) (also known as the Common Market in the English-speaking world and sometimes referred to as the European Community even before it was renamed as such in 1993) was an international organization created by the 1957 Treaty of Rome.However, it is not to a stage where the remaining trade barriers have been eliminated. A common market is the first stage towards a single market and may be limited initially to a free trade area, with relatively free movement of capital and of services. ![]()
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