How is this different from the EEA (Norway/Switzerland/Iceland)?
Jurisdiction of ECJ and boring normative stuff like languages on packing.
For one this seems related to EU the umbrella organization, not Europe the continent, while I suppose the European Economic Area might be geographically limited to Europe the continent. Maybe something like the European Neighbourhood Policy (ENP) might be more applicative here.
EEA you have to follow rules but get no say in said rules.