MR GOODLAD'S SPEECH TO THE STAFFORDSHIRE DEVELOPMENT ASSOCIATION 5 FEBRUARY 1993
Introduction
I
It is my great pleasure to speak to the Staffordshire Development Association. Thank you for your hospitality. often pass through Staffordshire on my way to and from my constituency, but rarely have the chance to enjoy its attractions at greater leisure. I am glad to have had the opportunity to rectify that tonight.
My responsibilities at the Foreign and Commonwealth Office cover the Asia-Pacific region and it is that area on which I will concentrate today. But given the importance of the Single European Market which came into effect on 1 January, I would like to begin by saying a few words on that subject.
EC Single Market
The creation of an internal market between the member states was one of the original goals of the Community in 1957. Tariff barriers were, of course, removed with relative ease to create a
'common market'. But it was not until 1985 that the Community concluded the single European Act, which set the deadline of 31 December 1992 for the adoption of all legislation necessary for the completion of a Single Market. In 1985 the British Commissioner Lord Cockfield drew up a White Paper listing some 300 pieces of legislation needed to scythe down the myriad non-tariff barriers to trade with the EC.
The Edinburgh European Council agreed that the White Paper programme was successfully completed on time in all essential respects. Over 500 internal market-related measures have now been agreed, including some 90 during the UK Presidency, a record for any single Presidency.
The scale of this achievement, not only for the UK Presidency but for the whole Community, should not be underestimated. opportunities for well-run British businesses are enormous. Common technical standards in a whole range of areas should reduce manufacturing costs and bureaucracy, and open markets for businesses all over the Community. This increased competition should result in greater choice and lower prices for the
consumer.
We now also have a Single Market in insurance, banking and other financial services, enabling our skilled service sector to operate freely in all the Member States. The Single Market also provides for an open system for public purchasing opening business worth 15% of Community GDP to British companies. It is far more than a free trade area. The Single European market creates a complete home market roughly equivalent in size to the
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