Mr Martin Bangemann, European Commissioner for Industry, Telecommunications and Information Technologies, highlighted the importance of standards in the world economy in a statement to mark World Standards Day on 14 October 1995. He stressed that, in a world of increasing technical complexity and change, common technical specifications are essential for the smooth functioning of the economy, both in Europe and in the world at large. Commissioner Bangemann pointed out that mutually agreed and mutually recognized standards, applicable across the entire market for manufacturing, industry, and business in general, can avoid unnecessary duplication of effort, make production more efficient, improve product information and increase customer choice. The functioning of the European internal market, free of border controls, is based to a large extent on standards. In the world economy, standardisation offers the most effective means of achieving interoperability and compatibility. For the Global Information Society, for instance, common standards are of the essence if key aspects of its technology are to work. The European Commission considers that standards are best set by the interested parties - notably industry, users, and public authorities - by means of the infrastructure of independent standardisation bodies. Mr. Bangemann noted that "Despite the advantages standards can offer, they are little known and even less understood. "World Standards Day" provides an excellent opportunity to correct some of the misapprehensions surrounding standards". On behalf of the European Commission, Mr. Bangemann expressed his appreciation of European and international standardization bodies for the valuable contribution they make to the economic development of both Europe and the world, and wished them success in the continuation of their work.