European Economic Area

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European Economic Area (EEA)

an alliance established in 1991 between. the member countries of the EUROPEAN UNION -and the EUROPEAN FREE TRADE ASSOCIATION (EFTA). The EEA's aim is to extend the EU's ‘single market freedoms’ in the flow of goods, services, capital and labour to include EFTA countries will adopt the harmonization directives currently being implemented under the SINGLE EUROPEAN ACT 1986.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

European Economic Area (EEA)

a FREE TRADE alliance established in 1991 between the member countries of the EUROPEAN UNION (EU) and the EUROPEAN FREE TRADE ASSOCIATION (EFTA). The EEA's aim is to extend the EU's four ‘single market freedoms’ in the flow of goods, services, capital and labour to include EFTA. EFTA countries have adopted the harmonization directives being implemented under the SINGLE EUROPEAN ACT 1986.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
Today, 25 years after the EEA agreement came into effect, Norway's comprehensive incorporation in the EU has sparked surprisingly little controversy even though it has profound constitutional democratic implications.
The Committee adopts resolutions on a wide variety of issues relevant to the EEA Agreement and the functioning of the Single Market.54
Legally speaking, each bilateral agreement is the result of a separate negotiation process and the approach is also quite different from the EEA Agreement: since the EU's acquis is not automatically the basis of the agreements, the nature of the legal obligations arising under nearly all of the each bilateral agreements comes closer to traditional international than to supranational EU law.
While relations with the European Union henceforth were defined by the EEA Agreement and a separate Swiss agenda, third-country relations emerged as a new common theme for the four remaining EFTA countries.
The last few years have seen renewed interest in the EEA Agreement. A comprehensive review of Norway's relationship with the EU was published earlier this year with considerable press coverage.
Following a Decision from the Joint EU/EEA Committee modifying Protocol 31 to the EEA Agreement on co-operation in specific fields outside the EU's four freedoms (free movement of people, goods, services and capital), European Free Trade Association (EFTA) countries may now take part in the EU's Altener programme for promoting renewable sources of energy (1998-2002).
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).
The decision would be taken under Article 5 of Protocol IX to the EEA Agreement, which authorises a party to "refuse landings of fish taken from a fish stock of common interest over the management of which there is serious disagreement".
Norway will also have closer ties to Poland through the EEA agreement, Bondevik said.
Two Decisions to amend the current EEA Agreement were adopted by the EU Justice and Home Affairs Council on October 29.