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:
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