European Economic Area(EEA)

The European Economic Area (EEA) is the area in which the Agreement on the EEA provides for the Free Movement of persons, goods, services and capital within the internal marketof the European Union (EU).

The EEA was established on January 01,1994 upon entry into force of the EEA Agreement

The EEA Agreement specifies that membership is open to member states of either the European Union(EU)or European Free Trade Association (EFTA)

When entering into force in 1994, the EEA parties were 17 states and 2 European Communities : the European Community, which was later absorbed into the European Union's wider framework, and the now defunct European Coal and Steel Community 

Membership has grown to 31 states as of 2016 - 28 EU Member States,as well as 3 of the 4 member states of the EFTA - Iceland,Liechtenstein and Norway