The European Economic Area (EES, also known as EEA) is an international agreement that extends the European Union's (EU) internal market to Iceland, Liechtenstein, and Norway. Iceland became a part of the EEA in 1994, which has significantly diversified its economy and integrated it into the European market. The EEA agreement allows for the free movement of goods, services, capital, and people, and Iceland adopts EU legislation in trade-related matters, though with limited influence on its formation. Additionally, the term "EES" also refers to the Entry/Exit System, a new digital border control system implemented in Schengen Area countries, including Iceland, to register the entry and exit of non-EU nationals.
Einnig þekkt sem: EEA, European Economic Area, Entry/Exit System