common market Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “common market” in the English Dictionary

"common market" in Business English

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common marketnoun [C]

uk   us  
ECONOMICS, POLITICS a ​group of countries that have a ​formalagreement for ​trading among themselves and how they ​trade with countries outside the ​group: The new ​agreement would ​create a common ​market that would ​extend from northern Canada to the ​tip of South America.
the Common Market the ​formername of the European Community, now known as the European Union
(Definition of common market from the Cambridge Business English Dictionary © Cambridge University Press)
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“common market” in Business English

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