European Economic Community
European Economic Community: EEC. Established by the Treaty of Rome which was signed on 25 March 1957. It entered into force on 1 January 1958. The Treaty was intended to "lay the foundations of an ever closer union among the peoples of Europe". Among its principal aims were the elimination of tariff and non-tariff barriers among member states and the formation of a common market entailing also the free movement of persons, services and capital. The EEC consists of a number of elements, including the Common Agricultural Policy, the Common Commercial Policy and a common transport policy. The EEC has been replaced by the European Community through the Treaty of Maastricht. See also enlargement, European Union and four freedoms. European Economic Community – Payments and subsidies paid to processors and producers of oilseeds and related animal-feed
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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