Longman Dictionary of Contemporary English - common market
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Common market
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1.
(common markets) 1. A common market is an organization of countries who have agreed to trade freely with each other and make common decisions about industry and agriculture. (BUSINESS) ...the Central American Common Market. N-COUNT 2. The Common Market is the former name of the European Union. Some people still refer to the European Union as the Common Market. N-PROPER: the N ...Collins COBUILD Advanced Learner's English Dictionary
2.
geographical name — see European Economic Community COMMON MARKET noun Date: 1893 an economic association (as of nations) formed to remove trade barriers among its members ...Merriam-Webster Collegiate Dictionary
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