A study by advisory body Forfás has found that while the European single market has benefited businesses and consumers, there are some obstacles preventing it reaching its full potential.
The study says the single market has helped to boost Irish trade and increase the country's attractiveness for foreign investment. But it says measures such as encouraging cross-border insurance and simplifying business loan procedures could further improve Irish trade within the EU.
It calls for a change in EU VAT rules and publication of the prices of a number of important production items in different countries, in order to encourage firms to identify potential suppliers in other countries.
Forfás says that while consumers have benefited from a better range and quality of goods and services, they are still paying higher prices than their EU counterparts for some essential items. The report also points to a lack of confidence in cross-border transactions.
