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Europe has become deeply integrated into global markets. Although Europe represents only seven percent of the world population, the EU's share in imports and exports of goods is 20 percent worldwide. The free exchange of goods and services within the European Economic Area (EEA) affects consumers and businesses equally. The objective of the European trade policy is to further reduce the barriers to trade and to services by harmonizing economic and legal conditions and to further strengthen the Single Market. Uniform requirements for products and services and their conformity is only one bullet point out of 12 VdTÜV key factors for a smooth functioning of the Single Market. The 'New Approach' should be designed and applied as a coherent and internationally competitive regulatory framework for the marketing of products and services.