In 1992, the seven EFTA members at the time concluded an agreement enabling them to participate in the European Community‘s ambitious internal market project, launched in 1985 and concluded at the end of 1992. The Agreement on the European Economic Area (EEA) was signed on 2 May 1992 and entered into force on 1 January 1994. Both the European Parliament and the national parliaments of the EEA-EFTA States are closely involved in the surveillance of the EEA Agreement. Article 95 of the Agreement establishes an EEA Joint Parliamentary Committee (JPC), which meets twice a year. The European Parliament and the EEA-EFTA national parliaments take turns hosting this Committee, which is chaired each year between a Member of the European Parliament and an EEA-EFTA National Parliamentarian. Each delegation is composed of 12 members. Parliamentarians from the Swiss Federal Assembly participate in the meetings as observers. All EU legislation applicable to the EEA is examined by the EEA Joint Committee, whose members have the right to put oral and written questions to representatives of the EEA Council and the EEA Joint Committee and to express their views in reports or resolutions. The same procedure applies to monitoring the implementation of the legislation.
Each year, the GCC adopts a resolution on the Annual Report of the Joint Committee on the Functioning of the EEA Agreement, in which it sets out its views on the progress made in the implementation of EU legislation and the backlog and makes recommendations for the proper functioning of the internal market. However, the number of EEA-EFTA members was quickly reduced: Switzerland decided not to ratify the agreement following a negative referendum on the issue and Austria, Finland and Sweden joined the European Union in 1995. Only Iceland, Norway and Liechtenstein remained in the EEA. The ten new Member States that joined the EU on 1 May 2004 automatically became members of the EEA, as did Bulgaria and Romania when they joined the EU in 2007 and Croatia in 2013[1]. In order to join the EEA, it is first necessary to join EFTA. However, it is not the other way around. The United Kingdom, like Switzerland, could be a member of EFTA without being a member of the EEA. If the UK did so (but did not negotiate a bilateral agreement with the EU, as Switzerland did), it would only be linked to the EU-EFTA Free Trade Agreement, whose mandate is limited, as noted above.
The EU and Switzerland have signed more than 120 bilateral agreements, including a free trade agreement in 1972 and two sectoral bilateral agreements that bring much of Swiss law into line with that of the EU at the time of signature.…