Road to Single Market and Economy: Issues to Consider

The ambition of groups of developing countries to achieve greater economic integration among themselves often finds expression in decisions to pursue the establishment of a ‘single market’ or ‘single market and economy’ (SME). Recently, ministers of the fourteen independent Pacific Island countries (PICs) mandated a pre-feasibility study on a possible Pacific Single Market and Economy (PSME). An important part of this study was a survey of similar initiatives around the world. This issue of Commonwealth Trade Hot Topics highlights some of the key issues emanating from it with implications for regional integration towards an SME among groups of small developing countries.