Common Contracts
1 similar Explanatory Memorandum contracts
EXPLANATORY MEMORANDUMExplanatory Memorandum • February 23rd, 2024
The Agreement on the European Economic Area (hereinafter referred to as ‘the EEA Agreement’) allows Iceland, Liechtenstein and Norway (‘the EEA EFTA States’) to participate fully in the single market. In conjunction with this, since the entry into force of the Agreement in 1994, these three countries have also contributed to the alleviation of economic and social disparities in the European Economic Area on the basis of Article 115 of the Agreement. In addition, Norway has contributed through a separate Norwegian financial mechanism. The most recent financial mechanisms expired on 30 April 2021.1
