The Agreement on the European Economic Area (EEA) is a comprehensive agreement that was established in 1994 between the European Union (EU) and three non-EU countries, namely Iceland, Liechtenstein, and Norway. The purpose of the agreement was to extend the EU`s single market to these non-EU countries and establish a framework for economic cooperation. The agreement came into force in 1995 and has since then been a cornerstone of the EEA countries` economic relations with the EU.
One of the most notable figures in the negotiation of the EEA agreement was Per Arnesen, a Norwegian diplomat who played a crucial role in the negotiations with the EU. Arnesen was a key negotiator for Norway during the talks, and his experience and diplomatic skills helped to ensure the successful conclusion of the agreement.
The EEA agreement is structured around four key pillars, namely the free movement of goods, services, persons, and capital. The agreement grants the EEA countries access to the EU`s single market and enables them to participate in the EU`s decision-making process. In return, the EEA countries commit to adopting a large corpus of EU law in order to ensure the harmonization of their national legal frameworks with that of the EU.
The free movement of goods pillar of the EEA agreement enables businesses in the EEA countries to trade freely with the EU without facing tariffs or other trade barriers. This has greatly facilitated trade between the EEA countries and the EU, making it easier for businesses to access new markets and grow their operations.
Similarly, the free movement of services pillar allows service providers in the EEA countries to offer their services in the EU without facing any discrimination or regulatory barriers. This has enabled companies in a wide range of sectors to operate across borders and expand their customer base.
The free movement of persons pillar allows citizens of the EEA countries to live and work in the EU, and vice versa. This has facilitated the mobility of workers and has enabled businesses to access a larger pool of talent. It has also enabled students to study in other EEA countries and gain valuable international experience.
Finally, the free movement of capital pillar enables businesses and investors in the EEA countries to invest in the EU and vice versa. This has facilitated the flow of capital across borders and has helped to drive economic growth.
In conclusion, the Agreement on the European Economic Area is a comprehensive agreement that has greatly facilitated economic cooperation between the EU and the EEA countries. The agreement has enabled businesses to trade freely, has facilitated the mobility of workers, and has facilitated the flow of capital across borders. The EEA agreement remains a key pillar of the EEA countries` economic relations with the EU, and its success is a testament to the diplomatic skills of negotiators like Per Arnesen.