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The European Union is one of the most outward-oriented economies in the world. It is also the world's largest single market area.

An example of a single-market manufacturer is a producer of buttons, zippers, clips, pins, or other specialized components attached to clothing. The makers of parts for motor vehicles are another example of specialized manufacturers with only one or two customers.

DSM Strategy The strategy encompasses 30 Digital Single Market initiatives under three pillars. These are: access to online products and services for consumers and businesses. shaping the environment for digital networks and services to grow and thrive.

The Digital Single Market aims to create the right environment for digital networks and services by providing high-speed, secure and trustworthy infrastructures and services supported by the right regulatory conditions.

The Single Market created a unified trading territory that functions without the border regulations and tariffs which typically apply to trade between countries. The Single Market allows the unrestricted movement of goods, services, capital, and people throughout the territory (also called a bloc).

Examples of single markets The European Single Market. The Caribbean Community (CARICOM) The ASEAN Economic Community (AEC)

The European Union's Digital Single Market Strategy consists of a series of initiatives intended to promote e-commerce and the digital economy through the harmonization of national laws and the development of uniform technical standards to facilitate interoperability.

: a group of countries that have an agreement which allows goods to be moved, bought, or sold between them very easily.