The European Economic Community, which was once named as the common market, was an international organization that was created with the aim to bring and uplift economic integration among its founding members. The members were powerful countries such as France, Italy, Belgium, Luxemburg, Germany and Netherlands. The main force for this organization was to enhance economic union, which eventually led to their union politically.
First, the European Union pushed for the abolition of cartels and trusts. European Union was a formation of six different member state whose opinions might be based on the either be based on cartels or trusts. To achieve the common interest they had set, the abolition of trust and cartels was necessary. Secondly, the EEC worked for the development of common policies that would guide them in the sectors of agriculture, foreign trade, transport, social welfare and labor since all of its members had a common interest. the common agricultural policies was set up to increase the productivity of the agriculture, stabilize the markets of agricultural products, ensure good working condition of the agricultural workers and finally ensure that the consumers got the products at a reasonable prices. The organization succeeded in putting a common price for the agricultural products of its member state in 1962. This assured the citizens of the member countries on the standardization of products so the y did not have to worry of the fluctuation of prices. In addition to this, the EEC eliminated the trade tariff between member states and they introduce a common external tariff that replaced it. This enabled the member nation to trade at ease and make money from the countries that did not belong to the EEC. Following this, the European Union increased its members and they contributed a lot to the economy of the world. On the other hand, the EEC had a disadvantage that is of concern. Following the high rate, which the EU expanded, the time for the implementation of the new policies was limited. Lack of this consideration could lead to the fall of the union with time.
Conclusion
Despite the disadvantage, the EEC has had many positive impacts on its member state. The presence of EEC developed the infrastructure of its member states at a tremendous level. This is one of the major factors that make business run smoothly in any country. The common interest and the good relationship within the member states allow the members to have a peaceful correlation. The presence of a common price in agricultural products allows its members to get these products without the effects of price fluctuation in the market.
