The EU Single Market

The EU’s Single Market, or internal market, is a vast economic area where people, goods, services, and capital can move freely. This market fosters economic growth, promotes innovation, and enhances the quality of life for EU citizens. By harmonising regulations and standards, the EU ensures that products can be sold throughout the bloc without unnecessary barriers, leading to lower prices, increased choice, and higher consumer protection. Moreover, the free movement of people enables citizens to work, study, and live in any EU country, contributing to a more dynamic and diverse labour market. 

 

For more information on the EU’s Single Market and its components, please check the dedicated website of the European Commission’s Directorate General for Internal Market, Industry, Entrepreneurship and SMEs (DG GROW). 

 

The EU Customs Union is a fundamental part of the EU, ensuring the smooth flow of goods within the bloc while protecting its borders. Key features are: 

 

  • A common external tariff:All EU Member States apply the same Customs duties to goods imported from outside the EU; 
  • No internal borders:There are no Customs checks or duties between EU Member States, facilitating trade and economic integration; 
  • Harmonised Customs procedures: EU Member States follow common rules and procedures for Customs clearance, ensuring consistency and efficiency; 
  • Enhanced security and safety:Customs authorities work together to prevent smuggling, counterfeit goods, and other illicit activities, safeguarding the EU’s internal market; 
  • Facilitation of trade:The EU Customs Union aims to streamline Customs processes and reduce administrative burdens for businesses, making trade more efficient; 
  • Protection of intellectual property rights:Customs authorities help protect intellectual property rights, such as trademarks and patents; and 
  • Adaptation to evolving challenges:The EU Customs Union is continually adapting to emerging challenges, including e-commerce, supply chain disruptions, and new security threats. 

 

For more information on the EU’s Customs policy and the EU Customs Union, please check the dedicated website of the European Commission’s Directorate General responsible for EU policies on taxation and customs (DG TAXUD).