European Economic Area

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European Economic Area (EEA) Economic union agreed (1992) between the 12 members of the European Community (EC) and six of the seven members (Switzerland rejected the notion) of the European Free Trade Association (EFTA). The EEA extended the EU's Single Market principles to EFTA. In 1995, Austria, Finland, and Sweden joined the European Union (EU), leaving only Norway, Iceland, and Liechtenstein as non-EU members.

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