rise in employment and job creation. Transition to a single market can have a negative impact on some sectors of a national economy due to increased international competition. Enterprises that previously enjoyed national market protection and national subsidy (and could therefore continue in business despite falling short of international performance benchmarks) may struggle to survive against their more efficient peers, even for its traditional markets. Ultimately, if the enterprise fails to improve its organization and methods, it will fail. The consequence may be unemployment or migration. National participation into single market opens political debates, about skills loss through worker migration from less developed countries, and wage suppression in countries to which they migrate. List of common markets Every economic union and economic and monetary union includes a common market. European Single Market (European Economic Area – Switzerland) Central American Common Market (CACM) Eurasian Economic Space Southern Common Market (Mercosur) Proposed ASEAN Economic Community (AEC) - established, but common market integration target is 2025 East African Community (EAC) African Economic Community (AEC) CARICOM Single Market and Economy (CSME) - Originally envisioned to be complete by 2008, it has since been delayed and is now envisioned to have free movement of people between willing member states by 2021. Gulf Cooperation Council (GCC) - Not yet a common market, though integration is continuing Latin American Integration Association (ALADI) Commonwealth free trade area - proposed by politicians in Canada, New Zealand, and the United Kingdom but never implemented Free Trade Area of the Americas - proposed trade bloc at the Summit of the Americas intended to be implemented across the Western Hemisphere (excluding Cuba) by 2005 Unified market A unified market is the economic term for a single market where goods, services, capital and people can move freely without regard to national boundaries. These "four freedoms" are implemented by, among other things, removal of tariffs on the transfer of goods and services among the member nations, imposition of uniform product standards, revision of laws to permit "market-wide" financial services, and the restructuring of most government procurement practices, so as not to favour local businesses over other member states' businesses. Footnotes References External links Economic Integration: Overview Economic integration vi:Hội nhập kinh tế#Thị trường chung