The prospect of a barrier-free market when the European Community drops all of its internal barriers by the end of 1992 has also brightened their outlook.

These could lead to institutional and structural changes bringing community members closer together by 1993, when they have already pledged to create a barrier-free single market of 336 million people.

One is the prospect of the 12-nation European Community becoming a single, barrier-free market of 325 million consumers.

International U.S. executives applauded the European agreement to create a barrier-free market, saying it would reduce the cost of doing business in Europe.

This is part of the community's plan to build a unified, barrier-free market for goods and services by the end of 1992.

THE 12 Community governments have speeded up implementation of rules to create their barrier-free market but are still far behind schedule, the Commission said yesterday.

French investment has boomed for several years as companies scramble to prepare for the European Community's barrier-free market at the end of 1992.

The barrier-free market planned by the European Community for 1992 is creating a $4 trillion market of 320 million people.

As Europe has moved toward that barrier-free market in 1992, merger and acquisition activity has gained momentum.

He said European auto makers were preparing for a barrier-free market and Europeans, not Japanese, should get the first benefits.