An EEA Financial Mechanism for the period May 2021 - April 2028, the Agreement between the Kingdom of Norway and the European Union on a Norwegian Financial Mechanism for the period May 2021 - April 2028, the Additional Protocol to the Agreement between the European Economic Community and the Kingdom of Norway and the Additional Protocol to the Agreement between the European Economic Community and Iceland

This legislative act approves new financial agreements between the EU and Norway, Iceland, and Liechtenstein. These agreements aim to support economic and social cohesion within the European Economic Area (EEA) and include updated protocols on fisheries trade.

The agreements directly affect Norway, Iceland, and Liechtenstein, which will provide financial contributions. The EU fishing sector and potentially other sectors benefiting from these funds will also be impacted.

The new agreements establish financial mechanisms totaling EUR 3.268 billion for the period May 2021 to April 2028. They also introduce new trade concessions for fish and fishery products and renew a fish transit arrangement for EU vessels.

The European Parliament has given its consent to the conclusion of these agreements. The final decision rests with the Council, with the agreements entering into force for the specified period.