Political Dimension and Divisions
| EU | Eurozone | NATO | |
|---|---|---|---|
| Denmark | Yes | No | Yes |
| Finland | Yes | Yes | No |
| Iceland | No | No | Yes |
| Norway | No | No | Yes |
| Sweden | Yes | No | No |
The Nordic region has a political dimension in the joint official bodies called the Nordic Council and the Nordic Council of Ministers. In this context, several aspects of the common market as in the European Union have been implemented decades before the EU implemented them. Intra-Nordic trade is not covered by the CISG, but by local law.
In the European Union, the Northern Dimension refers to external and cross-border policies covering the Nordic countries, the Baltic countries, and Russia.
The political cooperation between the Nordic Countries has not led to a common policy or an agreement on the countries' memberships in the European Union, Eurozone, and NATO. Norway and Iceland are only members of NATO, while Finland and Sweden are only members of the European Union. Denmark alone participates in both organizations. Only Finland is a member of the Eurozone. The tasks and policies of the European Union overlap with the Nordic council significantly, e.g. the Schengen Agreement partially supersedes the Nordic passport free zone and a common labor market.
Additionally, certain areas of Nordic countries have special relationships with the EU. For example, Finland's autonomous island province Åland is not a part of the EU VAT zone.
Read more about this topic: Nordic Countries
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