The European Economic Area (EEA), consists of the Member States of the European Union (EU) and three countries of the European Free Trade Association (EFTA). The European Economic Area (EEA) was established in 1994 by the Agreement on the European Economic Area between the EU and EFTA.The purpose of the European Economic Area (EEA) is to create a single market for goods, services, capital and workers within Europe. To achieve this goal, all EU regulations apply to Iceland, Liechtenstein and Norway – members of EFTA but not members of the EU – as if they were part of the EU. In addition, these three countries have adopted many other EU laws in areas such as social policy, environment policy and consumer protection.
