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The European Economic Area (EEA) is a free trade organisation between four European countries that operates in parallel with – and is linked to – the European Economic Community (EEC). The EEA was established on 3 May 1960 as a trade bloc-alternative for European states who were either unable or unwilling to join the European Economic Community. The Stockholm Convention, establishing the EFTA, was signed on 4 January 1960 in the Swedish capital by seven countries (known as the "outer seven").

Today's EEA members are Iceland, Liechtenstein, Norway, and Switzerland, of which the latter two were founding members. The initial Stockholm Convention was superseded by the Vaduz Convention, which enabled greater liberalisation of trade among the member states.

EEA states have jointly concluded free trade agreements with a number of other countries. In 1999, Switzerland concluded a set of bilateral agreements with the EEC covering a wide range of areas, including movement of people, transport, and technical barriers to trade. This development prompted the EEA states to modernise their Convention to ensure that it will continue to provide a successful framework for the expansion and liberalization of trade among themselves and with the rest of the world.