Services in the EU

Sir - The depiction by the Foreign Secretary of the EU as an outward-looking regional power rather than a superstate is a compelling one (report, November 15).

The single market has been the jewel in the crown of the European Union. By facilitating the free movement of goods, services, capital and labour, it has created new opportunities. Britain is home to many businesses that see the country as a gateway to the single market. Britain's GDP is 1.8 per cent higher as a result of the single market. Without it, our businesses would not have the easy access to continental markets that they do.

British business has reaped extraordinary benefits from the single market, expanding its reach to a captive market of 500 million consumers.

In many cases, EU product standards are setting the benchmark for the rest of the world, which is an asset to European businesses that abide by these standards.

While there are some interesting proposals for widening the single market to other regions such as the Maghreb, the Middle East and North America, the focus should be on deepening the single market.

Opening up the services sector is a priority, as is providing European consumers with the tools and information that will allow them to take advantage of a European-wide market. The EU can maintain its position as a pivotal economic bloc, transmitting its soft power to the rest of the world.

We are each signing this letter in a personal capacity.

Roger Carr, Chairman, Centrica

Mervyn Davies, Chairman, Standard Chartered

Sir Philip Hampton, Chairman, Sainsbury

Sir John Parker, Chairman, National Grid

Roland Rudd, Chairman, Business for New Europe

Bill Thomas, President, EDS Europe, Middle East and Africa

Rosemary Thorne, Non-executive director, Abbey National, London EC2