Proposal for a Council Decision on the signing, on behalf of the European Union, and provisional application of the Agreement between the European Union, Iceland, the Principality of Liechtenstein and the Kingdom of Norway on an EEA Financial Mechanism 2014-2021, the Agreement between the Kingdom of Norway and the European Union on a Norwegian Financial Mechanism for the period 2014-2021, the Additional Protocol to the Agreement between the European Economic Community and the Kingdom of Norway and the Addit

The Agreement on the European Economic Area (hereinafter referred to as ‘the Agreement’) allows Norway, Iceland and Liechtenstein (‘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 EEA in accordance with 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 2014.

In view of the continued need to alleviate economic and social disparities within the European Economic Area, on 7 October 2013 the Council authorised the Commission to open negotiations with Iceland, Liechtenstein and Norway on an agreement on the future financial contributions to be made by the EEA EFTA States towards improving economic and social cohesion in the European Economic Area. Formal negotiations were opened in January 2014. In parallel, but independently of the negotiations on the financial mechanism, a review of the EU-Iceland and EU-Norway fish trade protocols was opened on the basis of the revision clause of the additional protocols to the Free Trade Agreements with Norway and Iceland.

The negotiations were concluded at negotiators’ level with the initialling on 17 July 2015 of:
- the Agreement between the European Union, Iceland, the Principality of Liechtenstein and the Kingdom of Norway on an EEA Financial Mechanism 2014-2021 (‘the EEA Financial Mechanism Agreement’);
- the Agreement between the Kingdom of Norway and the European Union on a Norwegian Financial Mechanism for the period 2014-2021 (‘the Norway Agreement’);
- the Additional Protocol to the Agreement between the European Economic Community and the Kingdom of Norway (‘the Norway Protocol’);
- the Additional Protocol to the Agreement between the European Economic Community and Iceland (‘the Iceland Protocol’).

The attached proposal relates to the signature and provisional application of the EEA Financial Mechanism Agreement, the Norway Agreement, the Norway Protocol and the Iceland Protocol.

• Primary Source

EUR-Lex: COM(2016)84: Follow the progress of this proposal through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2016:084:FIN

EUR-Lex: COM(2016)86: Proposal for a Council Decision on the conclusion of the Agreement between the European Union, Iceland, the Principality of Liechtenstein and the Kingdom of Norway on an EEA Financial Mechanism 2014-2021, the Agreement between the Kingdom of Norway and the European Union on a Norwegian Financial Mechanism for the period 2014-2021, ... http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2016:086:FIN

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