EESsambandið

EESsambandið, often referred to as the EEA Agreement, is an international treaty that extends the European Union's internal market to the European Free Trade Association (EFTA) states of Iceland, Liechtenstein, and Norway. This agreement, signed in 1992 and effective from 1994, aims to create a level playing field for businesses and citizens across the participating countries.

The core principle of the EESsambandið is the four freedoms of movement: goods, services, capital, and people. This means that goods, services, capital, and individuals can move freely between the EU member states and the EFTA states party to the agreement, without tariffs or other restrictions. The EFTA states adopt relevant EU legislation concerning the internal market, ensuring consistent rules and regulations.

While the EES sambandið grants access to the EU's single market, it does not encompass all areas of EU policy. The EFTA states are not part of the EU's common agricultural or fisheries policies, nor are they members of the Economic and Monetary Union (EMU) or the customs union. They also do not participate in common foreign and security policy or justice and home affairs cooperation to the same extent as EU members.

The governance of the EES sambandið involves a joint committee that oversees the implementation and functioning of the agreement. Iceland, Liechtenstein, and Norway contribute financially to the EU budget in exchange for their participation in the internal market. The agreement is a significant component of the relationship between the EU and these EFTA countries, fostering economic integration and cooperation.