chapter  3
16 Pages

The European Union

The drive toward the creation of a single European economic entity began in 1957 with the signing ofthe Treaty ofRome. In 1986, the Single European Act established the goal of achieving a single market by 1992 to include 12 member states and approximately 350 million people. Common legislation, the so-called European Directives, were scheduled to cover the entire market. The intention ofthe European Community (EC) 1992 process was to streamline the approval process for products marketed in the 12 member states. Conceivably, the five member nations of the European Free Trade Association would also recognize the European Directives, even though these nations do not belong to the new common market.