On 34 years ago today, October 22, 1991 (September 15, 1991, the lunar calendar), an agreement on the establishment of the European Economic Area was reached. On October 22, 1991, the European Community and the European Free Trade Association reached an agreement to establish the European Economic Area in Brussels, the capital of Belgium. The agreement stipulates that while the European Community builds a unified market in 1993, the 12 European Community countries and free trade association member countries Austria, Switzerland, Iceland, Norway, Finland, Switzerland and Levendensden will realize the free flow of goods, people, services and capital. The 19 countries will abolish tariffs and import quotas, unify industrial and product standards, and expand cooperation to areas such as education, scientific research and transportation. The agreement also stipulates that the Council of Ministers and the Court of Justice, jointly formed by both parties, will serve as the highest decision-making and arbitration bodies. The agreement determines the principles for establishing an economic zone as follows: the integrated development of the European Community is given priority, and cooperation between the two sides must not hinder the establishment of a unified market, economic and monetary union and political union; the European Community has decision-making autonomy; and member states of the union will amend their own laws to adapt to the laws of the European Community. The establishment of the European Economic Area is the inevitable result of the deepening economic interdependence of the two major groups. The economic zone is not a merger of the two major groups, but a closer cooperation, but it can still be said to be a new type of integrated organization.