The EU Internal market

“The EU’s internal market: A crucial cornerstone of the Union”

The EU's internal market, a market concerning a population of 27 member states, has recently become one of the world's biggest economic achievements done by the European Union. With its power, it can successfully increase trade between the member states and their citizens. 

In recent years, the Internal market of the European Union has seen a lot of changes to boost its economic activity as a whole. For example, removing the trade barriers has been a big factor for the boost to economic activity. By removing these barriers, the EU emphasized the promotion of business, so much that they removed the tariffs and quotas that were active during earlier times, also with regards to smaller European member states. The whole environment for trade became freer to roam, encouraging more businesses to ship and expand their businesses across the EU's borders. 

Introduction of harmonization

One of the more precise applied measures to create a positive internal market would be the harmonization that was formed for certain regulations concerning trade. In the Netherlands, my own country, one of the biggest changes was the harmonization of food safety and agricultural standards through regulations like the General Food Law, where all countries within the EU such as the Netherlands had to be in line with a certain standard of produce. (General Food Law, z.d.)

This eventually created more opportunities for the Dutch economy as there was more trust towards the goods being shipped and because the access into the European Market was more beneficial.  

Newer heights for businesses

To add to this, small businesses will thrive even more as they also gain access to a market of 400 million customers, which can help develop their businesses exponentially. The opportunity for the mobility of labor has been seen as a great newer opportunity for these businesses, as they are allowed to bring workers from across the EU to work for them, also granting them the opportunity to develop as companies through funding. (Funding Opportunities for Small Businesses, n.d.) 

In general, the European Union's internal market has become a crucial cornerstone when talking about the economy. It symbolises the power of collaboration of the EU member states as it has fostered innovation. With that we can all look forward to a brighter future for all Europeans.