Today, the Commission, on behalf of the EU, signed a set of agreements and protocols on the European Economic Area (EEA) Financial Mechanism 2021-2028 with the three EEA European Free Trade Area (EFTA) states (Iceland, Liechtenstein and Norway ), as well as two protocols on annual duty-free tariff quotas for certain Icelandic and Norwegian fishery products entering the EU market. The signing of these agreements and protocols follows the agreement reached in November 2023 at negotiator level and the for approval by the Council on 25 June 2024.

For the period from May 2021 to April 2028, the EEA financial mechanism will amount to over €1.8 billion which will be given in the form of grants to projects in the 15 beneficiary states (Bulgaria, Greece, Estonia, Croatia , Cyprus, Latvia, Lithuania, Malta, Hungary, Poland, Portugal, Romania, Slovakia, Slovenia, Czech Republic). In addition, the Norwegian financing mechanism provides over €1.4 billion to the 13 EU Member States that joined the Union from 2004 onwards.

The Executive Vice-President of the Commission, Mr. Maros Seftsovics, who is mainly responsible for relations with the EEA-EFTA states, said in this regard: “This signing is another positive milestone, as this year marks 30 years since the conclusion of the agreement on the EEA. The EEA and Norwegian funding mechanisms reflect the benefits that the EEA-EFTA states derive from their access to the EU single market. Now we need to ensure the implementation of the programs and projects in the beneficiary states supported by the two funding mechanisms. »

The EEA agreement is based on shared values ​​and principles and is a factor of political and economic stability, prosperity and security. The EEA financial mechanism for the period 2021-2028 determines the contribution of the EEA-EFTA States to the reduction of economic and social inequalities in the EEA, with the aim of promoting the continuous and balanced strengthening of trade and economic relations, while contributing to the achievement of of EU cohesion policy objectives. The thematic priorities are the European green transition, democracy, rule of law and human rights, social inclusion and resilience.

All parties will now proceed to ratify the agreement in accordance with the procedure provided for in their legislation. Before the agreements can be fully implemented, the European Parliament will have to approve them.

Nikos Andritsos