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The single market programme has been important in promoting integration in Europe and has improved longer term growth prospects. But much more can be done to raise living standards further, particularly by reforming service sectors and some network industries. OECD product market regulation indicators show that existing regulations remain relatively stringent and that competition is less intense than it should be. There also continue to be substantial delays in the full implementation of some directives by member states, especially in the areas of financial services, energy and transport. The Services Directive should bring further improvement provided it is implemented in a timely and effective fashion, as intended, by the end of 2009. Looking ahead, the Commission should continue efforts to raise competition and reduce administrative burdens by identifying and tackling obstacles to integration and by pursuing the Better Regulation agenda.