By creating a larger market for their economic trade system, tariff free with the free movement of labor and capital thus strengthening their economy and creating a common identity to some level through the deepening of regional integration.
The EU has developed a single market through a standardised system of laws which apply in all member states, ensuring the free movement of people, goods, services, and capital.[13] It maintains...
The term 'common market' means an international organization of European countries formed after World War II to reduce trade barriers and increase cooperation among its members