What EEA participation costs would be replaced upon membership?

What EEA participation costs would be replaced upon membership?

If Iceland were to join the European Union, EEA participation costs would be eliminated. Estimated costs of EEA participation are approximately ISK 8 billion per year, comprising:

• Contributions to the EEA Financial Mechanism: approximately ISK 1.7 billion per year.
• Operating costs of the Ministry for Foreign Affairs translation centre: approximately ISK 500 million per year.
• Contributions to EFTA Secretariat operations, the EFTA Surveillance Authority, and the EFTA Court: approximately ISK 500 million per year.
• Contributions to EFTA, including contributions to EU cooperation programmes channelled through EFTA: approximately ISK 5 billion per year on average (ISK 5.8 billion in 2026).

These costs arising from Iceland's participation in the EEA cooperation would be eliminated.

Other direct or indirect costs could also be eliminated. These include costs related to participation in e.g. the Schengen cooperation. The European Union also pays, for example, travel expenses for representatives of EU Member States attending EU related meetings after membership. In contrast, today, the Icelandic State covers all travel expenses for Icelandic representatives attending meetings related to the current EEA cooperation or EU related meetings.