TITLE

Single market extended

PUB. DATE
February 1994
SOURCE
Accountancy;Feb1994, Vol. 113 Issue 1206, p101
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article provides information on the expanded single market area in operation under the European Economic Agreement since 1994. The agreement includes Austria, Finland, Iceland, Norway and Sweden and allows nationals of these countries to live and work in Great Britain and other European Commission member states, and nationals to do the same in these five countries. The agreement gives reciprocal rights of movement, residence and employment in an attempt to increase trade and business opportunities. The European Economic Area covers 17 countries in total, and although it is not a customs union, the agreement provides for freer movement of goods, services, capital and people by adopting 1,500 of the Commission's single market measures. European Free Trade Association (EFTA) states have opened markets previously closed to British exporters so that public purchasing contracts, for example, will be open to British companies, technical standards will be aligned with those set by the Commission and the financial services market will be opened up. In addition, British professionals will be able to practice in EFTA states without requalifying.
ACCESSION #
9504171575

 

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