Europe, 4 January: The Europe Single Market has completed its 30 years today. Established in 1993, Europe’s Single Market has been helping make everyday life easier and better for European citizens and businesses. The benefits of the Single Market have been considerable since the day it’s been incorporated.
The EU Single Market provides an assurance for the free flow of goods and people across European Union member states. European Citizens have received multiple benefits of the European Single Markets. The beneficiaries of the Single Market have the freedom to travel, live and work in any state across the members of the European Union, with the least restrictions.
The traders can conveniently buy and sell products across the European states. The manufacturers and suppliers have the benefit of the widest market outlets in the European states. At the same time, the consumers get the chance to benefit from the widest catalogue of products, goods and services. Thus, being mutually beneficial for the consumers as well as manufacturers and retailers.
The citizens can use the European Health Insurance Card anywhere in the European states. The card enables the citizens to access medically necessary state-provided healthcare, during a temporary stay in any of the 27 EU countries, that too at the same cost and under the same conditions as people insured in that country.
The manufacturers, traders and suppliers of a certain class of goods or services are obliged to design their goods that are in compliance with the standards of the European markets.
Thereby improving the quality of production in the global markets with stringent consumer safety rules. Meanwhile, the competition amongst the firms will have the pricing of the goods in markets within control.
The Single Market carries a considerable economic significance, and it can be utilized in tackling climate change with the implementation of relevant measures in market operations, beginning with eco-friendly means of production, reducing carbon footprint and utilizing a clean and secure energy supply.
Also the agenda of digitalization can also be looked after through single market operations. Therefore, the Europe Single Market will continue to be highly fruitful for the European Union in the future as well.
