European Economic Community, economic alliance between some European states in order to promote free trade and uniform policies for import taxation from non-member countries
A common market is an organization of countries who have agreed to trade freely with each other and make common decisions about industry and agriculture. the Central American Common Market
The Common Market is the former name of the European Union. Some people still refer to the European Union as the Common Market. An economic unit, typically formed of nations, intended to eliminate or markedly reduce trade barriers among its members. the Common Market a former name for the European Union