Does Liechtenstein joining the EEA (European Economic Area) also strengthen the country’s sovereignty?

Nowadays, the term “sovereignty” has taken on a very broad interpretation. At the heart of it is a state’s ability to solve the problems that concern it. Since challenges regarding issues such as trade, security or environmental protection only rarely exist within the confines of a country’s own borders, national sovereignty is measured not only by whether a state is able to make autonomous decisions, but to what extent that state is able to participate in the international decisions relevant to it. The access to European institutions that goes hand in hand with EEA membership brings international recognition and visibility to Liechtenstein. At the same time, EEA membership represents an obligation for the state to expand national administration and put more of its own laws in place. In this way, EEA membership contributes to building a national identity of Liechtenstein that aims to unite independence and internationalisation in the best possible manner. Moreover, the increased exchange occurring in the scope of the EEA brings a great deal of know-how to the economic and administrative sectors.