European Economic Area

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European Economic Area:

see European Free Trade AssociationEuropean Free Trade Association
(EFTA), customs union and trading bloc; its current members are Iceland, Liechtenstein, Norway, and Switzerland. EFTA was established in 1960 by Austria, Denmark, Great Britain, Norway, Portugal, Sweden, and Switzerland.
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; European UnionEuropean Union
(EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community (EC), an economic and political confederation of European nations, and other organizations (with the same member nations)
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References in periodicals archive ?
While in the meantime most EFTA members left for the European Union or signed the EEA Agreement, the 1972 FTA continues to provide the main pillar in Swiss-EU relations after more than 40 years of existence.
This is achieved by the integration of EC legislation in the relevant fields into the EEA Agreement through a decision by the EEA Joint Committee on a legal act that has been formally adopted by the EU.
Iceland's trade policy rests on three pillars: The EEA Agreement, WTO membership and trade agreements in the broadest sense.
Beyond the mere consolidation of hi lateral trade links, the EEA Agreement extended significant areas of the EU's Internal Market to the participating EFTA States--today Iceland, Liechtenstein and Norway.
On February 23, 2001, the European Commission decided not to oppose the merger between Sanmina and Segerstrom and to declare it compatible with the common market and with the EEA Agreement.
Additional Information: Candidates or tenderers which are established in the territory of another Contracting Party to the EEA Agreement or Switzerland, are explicitly to the possible need for a regulatory decision on the admissibility of the exercise of an activity in Austria, as well as the obligation, a fact directed to initiate proceedings immediately pointed.
When the EEA Agreement was signed on 2 May 1992 in Porto, Portugal, it constituted one of the major political events of the year in Europe.
The purpose of this Undertaking, which applies to conduct involving at least one country within the European Economic Area (the "EEA"), is to assist the Commission of the European Communities ("the Commission") in satisfying itself that Article 86 of the EC Treaty and Article 54 of the EEA Agreement are not infringed.
Such a difference in treatment results in a restriction on the free movement of services and capital within the meaning of Articles 56 and 63 TFEU and Articles 36 and 40 of the EEA Agreement to the detriment of foreign CIUs that have made investments in Belgium and their investors.
The EEA Agreement brings three of the Member States of the European Free Trade Association (EFTA)--Iceland, Liechtenstein and Norway (collectively EEA EFTA)--into the European Single Market, with those countries agreeing to adopt the regulatory framework of the European Union (EU).
I am pleased that Croatia has joined the EU and that it will now also have closer ties to Norway through the EEA Agreement, said Minister and Chief of Staff at the Office of the Prime Minister Vidar Helgesen, who is also responsible for EEA and EU Affairs at the Ministry of Foreign Affairs.
The Liechtenstein Government highlights, above all, the benefits of access to the EU Single Market and the legal certainty provided by the EEA Agreement.