Single marketA single market, sometimes called common market or internal market, is a type of trade bloc in which most trade barriers have been removed (for goods) with some common policies on product regulation, and freedom of movement of the factors of production (capital and labour) and of enterprise and services. The goal is that the movement of capital, labour, goods, and services between the members is as easy as within them. The physical (borders), technical (standards) and fiscal (taxes) barriers among the member states are removed to the maximum extent possible.
Gulf Cooperation CouncilThe Cooperation Council for the Arab States of the Gulf ( مجلس التعاون لدول الخليج العربية ), also known as the Gulf Cooperation Council (GCC; مجلس التعاون الخليجي), is a regional, intergovernmental, political, and economic union comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The council's main headquarters is located in Riyadh, the capital of Saudi Arabia. The Charter of the GCC was signed on 25 May 1981, formally establishing the institution.
BRICSBRICS is a grouping of the world economies of Brazil, Russia, India, China, and South Africa formed by the 2010 addition of South Africa to the predecessor BRIC. The original acronym "BRIC", or "the BRICs", was coined in 2001 by Goldman Sachs economist Jim O'Neill to describe fast-growing economies that would collectively dominate the global economy by 2050. The BRICS have a combined area of and an estimated total population of about 3.21 billion, or about 26.7% of the world's land surface and 41.
Maastricht TreatyThe Treaty on European Union, commonly known as the Maastricht Treaty, is the foundation treaty of the European Union (EU). Concluded in 1992 between the then-twelve member states of the European Communities, it announced "a new stage in the process of European integration" chiefly in provisions for a shared European citizenship, for the eventual introduction of a single currency, and (with less precision) for common foreign and security policies.
EurozoneThe euro area, commonly called the eurozone (EZ), is a currency union of 20 member states of the European Union (EU) that have adopted the euro (€) as their primary currency and sole legal tender, and have thus fully implemented EMU policies. The 20 eurozone members are: Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.
FranceFrance (fʁɑ̃s), officially the French Republic (République française ʁepyblik fʁɑ̃sɛz), is a country located primarily in Western Europe. It also includes overseas regions and territories in the Americas and the Atlantic, Pacific and Indian Oceans, giving it one of the largest discontiguous exclusive economic zones in the world. Its metropolitan area extends from the Rhine to the Atlantic Ocean and from the Mediterranean Sea to the English Channel and the North Sea; overseas territories include French Guiana in South America, Saint Pierre and Miquelon in the North Atlantic, the French West Indies, and many islands in Oceania and the Indian Ocean.
Italian liraThe lira (ˈlɪərə; plural lire) was the currency of Italy between 1861 and 2002. It was first introduced by the Napoleonic Kingdom of Italy in 1807 at par with the French franc, and was subsequently adopted by the different states that would eventually form the Kingdom of Italy in 1861. It was subdivided into 100 centesimi (singular: centesimo), which means "hundredths" or "cents". The lira was also the currency of the Albanian Kingdom from 1941 to 1943.
