Eea Agreement In 1992

Although the two are closely related, the EEA and the EU are not the same. The EEA Agreement concerns the internal market and relevant laws, while the EU is both economic and political. All the rules that EEA countries must comply with are set by the EU, which means that EEA/EFTA countries have no say in the formation of the laws they have to implement. EEA countries must also make financial contributions to the EU, even if they are less than the contributions of an EU Member. Like the other EFTA countries, Norway concluded a free trade agreement with the EC from 1973. The bilateral agreements between the EC and the EFTA countries concerned only a few areas of trade. Norway`s free trade agreements with the EC focused on the elimination of tariffs on industrial products. The EEA Agreement was signed by the EC and EFTA Member States on 2 May 1992. At the time, there were seven EFTA States and 12 EC Member States. When the Maastricht Treaty entered into force in 1993, the EC became the EU.

The Agreement entered into force on 1 January 1994. The Agreement on the European Economic Area (EEA) is a 1992 agreement that brings into an internal market the Member States of the European Union (EU) and three of the countries of the European Free Trade Association (EFTA), namely Iceland, Liechtenstein and Norway. (The fourth EFTA state, Switzerland, has decided not to join.) The aim of the agreement is to strengthen trade and economic relations between countries by removing trade barriers and establishing a level playing field and compliance with the same rules. The report examined four alternatives to the current situation: 1) a sectoral approach with separate agreements with each State covering a full policy area; 2) a Comprehensive Multilateral Framework Association Agreement (FAA) with the three states, 3) EEA membership and 4) EU membership. . . .