The European Economic Area (EEA) is an economic agreement established in 1994 that extends the European Union's single market to non-EU member states. It allows for the free movement of goods, services, capital, and people (known as the "four freedoms") between [[European Union (EU)]] countries and participating non-EU members. Key features include: - Members: All EU member states plus three EFTA states (Norway, Iceland, and Liechtenstein) - Provides access to EU's single market without full EU membership - Requires members to adopt relevant EU regulations without full EU voting rights - Excludes certain EU policies (like agriculture and fisheries) - Members contribute financially to EU programs they participate in - Allows countries to benefit from EU market access while maintaining sovereignty in certain areas [[Switzerland]], though an EFTA member, is not part of the EEA but has bilateral agreements with the EU. The EEA serves as an alternative to full EU membership while maintaining close economic ties with the EU.