Welcome to the European Parliamentary Research Service Podcasts.

In this podcast, we will look at the benefits for EU citizens from more ambitious and united EU action in the single market for goods and services.

In its latest study, the cost of non-European and age of global challenges, the European Parliament finds that more EU action

in 50 policy areas could bring large gains to EU society. Want to know more? Stay with us.

For over half a century now, European integration has been a key driver of economic growth,

environmental protection, peace and social prosperity.

And one of Europe's landmark achievements is without a doubt the single market.

It generates benefits for millions of businesses and consumers every day.

But despite the already high level of integration, single market rules continue to

need better implementation and enforcement as excessive complexity, unnecessary national requirements,

different labelling standards, and other administrative burdens are still hampering trade

and investment inside the EU. Tackling these obstacles and focusing on areas where the single market needs further

deepening and strengthening could boost intra-EU trade in goods and bring economic benefits

of at least 228 billion euros per year by 2032.

But the single market is not only about goods. It's also about

services, people and capital moving freely across the EU. Actually, services account for three

quarters of EU gross domestic product and a similar share of its employment,

creating nine out of every ten new jobs in the EU.

So, a well-functioning EU services market is key to boosting employment opportunities,

free movement, investment and innovation in Europe.

The COVID-19 pandemic and Brexit have recalled the value of the progress made so far.

The war in Ukraine is stressing the importance of further developing the single market integration,

...