European Economic Area
/ˌjʊərəˈpiːən iˈkɒnəˌmɪk ˈɛəriə/
Definitions
- (n.) An international agreement extending the European Union's internal market to member states of the European Free Trade Association, allowing free movement of persons, goods, services, and capital.
Norway is a member of the European Economic Area, enabling it to participate in the EU's single market without EU membership.
Forms
- european economic area
- european economic areas
Related terms
See also
Commentary
Often abbreviated as EEA; it is essential to distinguish the EEA from the EU itself, as EEA members participate in the internal market without full EU membership.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.