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European Economic Area
(redirected from EEA Agreement)

   Also found in: Encyclopedia, Wikipedia 0.02 sec.
European Economic Area
n
(Economics, Accounting & Finance / Currencies) a free-trade area created in 1994 by an agreement between the European Free Trade Association (EFTA), excluding Switzerland, and the European Union (EU) Abbreviation EEA


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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.
190) A complicating factor here was that the relevant prohibition contained in the EEA agreement would undoubtedly be self-executing in the legal orders of the territories covered by Community law from the moment of entry into force onwards.
The EFTA Surveillance Authority ensures that Iceland, Liechtenstein and Norway respect their obligations under the EEA Agreement.
 
 
 
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