The European Single Market turns 30 this year

January 25, 2023 2:58 pm Published by Leave your thoughts

This year, the EU celebrates 30 years of its Single Market – a major achievement of European integration and one of its key drivers. The European Single Market was established on 1 January 1993, allowing goods, services, people, and capital to move freely within the EU, enhancing the quality of life for both citizens and businesses.

As a driver of economic growth and competitiveness and supporting Europe’s economic and political power at a global level, the Single Market has led to unprecedented market integration between Member States’ economies. Moreover, it accelerated the economic development of new member states, by removing entry barriers.

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