Assess the extent to which it would be beneficial for Norway to join Essay

Assess the extent to which it would be beneficial for Norway to join the European Union - Essay Example In fact, Norway has close political and economic ties with the EU (regjeringen, 2011). For instance, according to regjeringen (2011), Norway and the EU are members of the European Economic Area (EEA, signed in 1994). Moreover, the EEA agreement regulates the relationship between Norway and EU (regjeringen, 2011). In addition, Norway and the European Union signed Schengen agreement and they are partners in the Iceland and Liechtenstein (regjeringen, 2011). The foundations of Norway-EU trade relations were led by the EFTA (European Free Trade Association), which was established in 1960 (regjeringen, 2011). The EU in collaboration with Norway participate in the fields of justice and home affairs, climatic changes, foreign policies, research policies and in regulation of energy consumption (regjeringen, 2011). Increase in cooperation of Norway with European Union dramatically affects more aspects of both Norwegian and the EU community and economy (regjeringen, 2011). Norway is a major su pplier of natural gas supplying up to 24% of the total gas imports, (regjeringen, 2011). Norway has contributed to the EU budget â‚ ¬ 230 million in 2010 (regjeringen, 2011). In addition, according to regjeringen (2011), the overall amount of Norway’s export to the EU is 80.7%. In order to understand the importance of the EU for Norway, one should not only look at the EEA Agreement, but analyze the entire structure of agreements. For example, the Schengen Agreement or the many other agreements between Norway and the EU that concern Justice, Security policy, fisheries and agriculture (regjeringen, 2012). On the other hand, Norway persistent refrains from joining the EU for various reasons, even though accession to the EU would bring new insights and new opportunities for Norway across diverse areas. Ladegaard (2012) states that, accordingly to