Completing the single market for goods

The pandemic and the negotiations following Brexit have been a serious challenge for the integrity of the single market, in particular regarding free movement. Growing world tensions and the military aggression against Ukraine by the Russian Federation are now further emphasising the benefits of unity between Member States. Faced with this extremely difficult environment, the EU has responded with unprecedented determination, developing a series of tools and coordination mechanisms, such as common procurement and fiscal support, to rapidly address weaknesses. As the situation remains uncertain and as risks accumulate, continued common action and long-term strategic planning at EU level is required more than ever to significantly reduce harmful dependencies. Previous evaluations by EPRS stressed that the single market for goods could be instrumental in this respect. In this briefing, our updated simulations confirm that the untapped potential from the single market for goods is still substantial. In particular, as barriers to trade facilitation and complexity of regulatory procedures continue to hinder the free movement of goods, further action in this area could significantly boost intra-EU trade, with potential economic benefits of between €228 billion and €372 billion per annum. We therefore conclude that completing the single market for goods is an integral part of the path towards more strategic autonomy, more resilience, more security, and more rapid, broad-based and sustainable development.