Definitions for "European Economic Area"
Related Terms:
Eea, European free trade association, Efta, European community, Maastricht treaty, European union, Eu, Epc, European economic community, Amsterdam treaty, Eurozone, Economic and monetary union, Single european act, Esf, Emu, Cotonou agreement, Euro, Treaty of rome, Common market, Common foreign and security policy, Council of europe, European monetary system, European monetary union, European space agency, European central bank, Member states, Supranational, European commission, European coal and steel community, Development assistance committee, Era, Europa , Association agreement, Cefic, Eurostat, Esa, European court of auditors, Eto, Euro zone, European currency unit, Ecb, Annex ii, Brussels, European research area, Organisation for economic cooperation and development, Organization for economic cooperation and development, Group of ten, Erdf, Monetary union, Liechtensteiner
The group of countries comprised of the EU together with EFTA. The two groups have agreed to deepen their economic integration.
Economic grouping incorporating all European Union states plus Iceland, Liechtenstein and Norway. The Investment Services Directive passport applies to the EEA.
An economic area encompassing all the members of the European Union (EU-- q.v.) and the European Free Trade Association (EFTA-- q.v.), with the exception of Switzerland. Established in 1993, the EEA went into effect on January 1, 1994. The EEA is a single market for the free movement of labor, services, capital (with some restrictions on investments), and most products. EFTA members have agreed to accept EU regulations in many areas, including company law, education, environmental protection, mergers, and social policy.
A combination of the member nations of the European Union (EU) and the European Free Trade Association (EFTA) that comprises 19 nations, nearly 380 million people, and approximately 40 percent of world trade.
An agreement linking the EU with three former EFTA States (Norway, Iceland and Liechtenstein). It became fully effective in 1994. The non-EU members adopt most EU laws and take part in action programmes, but are not part of the decision making machinery.
The free-trade area established by the EEA Agreement, which binds all EC countries and three members of the European Free Trade Association (EFTA): Norway, Liechtenstein and Iceland. (Switzerland is a member of EFTA but is not of the EEA.)
an area including the EU, (see below) and Iceland, Liechtenstein and Norway.
An 1992 agreement between the European Community and the European Free Trade Association (EFTA) establishing a free trade area in all areas except agriculture. Previously called the European Economic Space.
Set up in 1994, the European Economic Area allows its three members, Iceland, Liechtenstein and Norway, to take part in the single market, but without taking on the responsibilities of EU membership of the EU. They have the right to be consulted by the Commission during the formulation of EU legislation but no right to a say in the decision making.
The EEA Agreement went into force in 2004. It allows Norway, Iceland and Liechtenstein, who are not members of the EU but who are members of the European Free Trade Area, to participate in the internal European market without assuming the full responsibilities of EU membership. The EEA gives them the right to be consulted by the European Commission during the formulation of Community legislation, but not the right to a voice in decisionmaking. All new EC legislation in areas covered by the EEA is integrated into the EEA Agreement through an EEA Joint Committee decision and subsequently becomes part of the national legislation of the EFTA countries that signed the EEA. The EEA Agreement is concerned with the four fundamental pillars of the internal European market, i.e., freedom of movement of goods, persons, services and capital. See “European Free Trade Association” and “European Union.
The European Economic Area in effect extends the single market to cover Iceland, Liechtenstein and Norway - subject to agreement they must follow the applicable EC legislation without having had a full say in its negotiation, in return for which they have full access to the Internal Market.
The EC provisions on training and mutual recognition of qualifications also apply in certain other European countries, which together with EC member states, comprise the European Economic Area (EEA). The EEA includes the following countries: Austria, Belgium, Denmark, Finland, France, Germany. Greece, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, The Netherlands, Norway, Portugal, Spain, Sweden and the United Kingdom.
An agreement, beginning in 1993, that encourages free trade between EFTA and the EU. p. 89
Encompasses the member states of the European Union plus Iceland, Liechtenstein and Norway.
The European Economic Area (EEA) came into being on January 1, 1994 following an agreement between the European Free Trade Association (EFTA) and the European Union (EU). It was designed to allow EFTA countries to participate in the European Single Market without having to join the EU.