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The European Economic Area (EEA) extends the European Union's single market to Iceland, Liechtenstein, and Norway. This agreement allows for the free movement of goods, services, capital, and persons across its member states, fostering close economic and trade relations without full EU membership. It's a vital framework for economic cooperation and integration within Europe.

European Economic Integration describes the comprehensive process through which countries in Europe, predominantly through the European Union, have removed trade barriers and harmonized economic policies to create a more unified market. This intricate system facilitates the free movement of goods, services, capital, and people, aiming to foster greater economic stability, growth, and political cohesion across the continent.