The European Economic Area (EEA) comprises the countries of the European Union (EU), plus Iceland, Liechtenstein and Norway. It was established on 1 January 1994 following an agreement between the member states of the European Free Trade Association (EFTA) and the European Community (which became the EU). It allows Iceland, Liechtenstein and Norway to participate in the EU's Internal Market without being members of the EU. They are obliged to adopt all EU legislation related to the single market, except laws on agriculture and fisheries. One EFTA member, Switzerland, has not joined the EEA, but has a similar agreement with the EU.
Read more about European Economic Area: Origins, Membership, Rights and Obligations, Legislation, Institutions, EEA and Norway Grants
Famous quotes containing the words european, economic and/or area:
“God grant we may not have a European war thrust upon us, and for such a stupid reason too, no I don’t mean stupid, but to have to go to war on account of tiresome Servia beggars belief.”
—Mary (1867–1953)
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“Prosperous farmers mean more employment, more prosperity for the workers and the business men of ... every industrial area in the whole country.”
—Franklin D. Roosevelt (1882–1945)