The application of EU legislation to non-EU EEA states
Produced in partnership with Maclay Murray & Spens LLP
The application of EU legislation to non-EU EEA states

The following Financial Services guidance note Produced in partnership with Maclay Murray & Spens LLP provides comprehensive and up to date legal information covering:

  • The application of EU legislation to non-EU EEA states
  • Background
  • EEA Agreement
  • Defining the concepts of 'common market', 'single market' and 'internal market'
  • Carrying on financial services in other EEA states
  • How decisions relating to the EEA Agreement are made
  • Which EU acts have been incorporated into the EEA Agreement?
  • Identifying which acts have been incorporated:
  • What happens to the EEA if/when the EU is enlarged with new member states?
  • What are the main differences between the EEA Agreement and the Swiss bilaterals?
  • more

Background

The origin of the European Economic Area (EEA) dates from 1990 and was largely the initiative of former European Commission (Commission) President Jacques Delors to create the world's largest internal market, which led to the founding EEA Agreement and the creation of the EEA.

The EEA brings together the following 25 EU Member States:

Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom

(the EU States)

And three of the European Free Trade Association (EFTA) states:

Iceland, Liechtenstein and Norway

(the EEA EFTA States)

The fourth EFTA state, Switzerland, is the only EFTA state that is not an EEA state.

The EFTA continues to exist as an intergovernmental organisation set up for the promotion of free trade and economic integration to the benefit of its four member states (Iceland, Liechtenstein, Norway and Switzerland) with the EFTA Convention forming the legal basis of the organisation and governing free trade relations between the EFTA States.

However, it is the relationship between the wider 28 EEA States (the current 25 EU Member States plus the three EFTA EEA states) which is discussed in this Practice Note.

EEA Agreement

The EEA Agreement came into force on 1 January 1994 with