The EEA is the single market though isn't it, which is part of the EU. Norway, although not part of the EU is governed by the EEA and therefore has to conform to the freedom of movement. I don't think it is suggested by most that we would have access to the single market and have control over immigration. It has been made absolutely clear that the EU would not allow us to cherry pick the parts of the EEA that best suit us?
It is clear to me that the UK would have to negotiate new trade deals with the rest of the world should we leave and that is primarily what the focus of the trade argument is about. No ones saying that we can't trade in the EU either. It is just that we would have to negotiate with all 27 nations and incur a tariff imposed on us for the benefit of trading in the EU, and I don't feel we would we be paying 10%+ tariffs on exporting our goods to the EU, nor do I think the UK economy would collapse if we were paying those tariffs. It is worth remembering that a lot of our import comes from Germany, France and Italy and that amounts to a lot of jobs and commerce on their part, so there would be room to negotiate a better deal from my understanding. Any talk of the EU wanting to penalise us for leaving, and setting an example to the rest of the nations need to tread carefully as some of the biggest nations have a lot of goods exported to the UK market that could cause big loss of jobs and money.
Of course the EU accounts for 50% of our trade (actually think it is less than 50%), with the rest being global trade deals accounting for 56% of our trade. My opinion is that if other countries can successfully negotiate trade deals outside of the EU, then so too can the UK. It is clear however that there would be a financial hit to the economy, but for how long is the question.
Bottom line is, we would have control over immigration, but not on the single market, which is essentially what the EEA is.
I agree with most of that. There are those that claim we could use Article 112 of the EEA Agreement to unilaterally curb migration though, and it's even on UKIP's website, it makes heavy use of this and my post was really to squash those arguments. It is giving the impression there is far more flexibility in negotiating than there actually is, and really begs the question why we haven't tried those already if that flexibility existed:
http://www.ukipdaily.com/eu-referendum-efta-swiss-or-efta-norway/
I don't, however, share your optimism for favourable trade deals. I don't think we could do individual trade deals with each country in the EU if we left and were not in the EEA, because if that were true we could do so now with countries outside of the EU and a lot of this argument would go away. Ultimately the EU would call the shots on those negotiations.
The biggest problem though with the idea of negotiating a favourable trade deal with the EU is down to politics. We could I think IF we weren't in the EU to start with. If we come out and then be allowed to have a favourable deal, that would show other countries that it's possble to exit the EU and access the market without substantial penalty. Other countries may well follow. Those EU countries whose economic and social well being depend entirely on the success of the EU project will be very relucatant to allow a 'third way'. Also there'll be no political will for the EU to give us anything like favourable terms in bilateral agreements like Switzerland for the same reason (notwithstanding that the EU really doesn't like bilateral deals, they are very cumbersome and have to be continually updated).
I worry that the main EU countries that are so deeply dependent on the success of the EU project won't want to see a domino effect of others leaving, the likes of Sweden and Denmark are already teetering, and even the rise of the far right parties in France has to be a concern for them.
We have to remember that for us the EU represents a large export market consisting of 27 EU countries, but for any particular EU country their export market consists of us, and 26 other EU countries all of which depend on the EU system working. Some big players like Germany have to balance their self interests of having a favourable trade deal with us against the potential disaster of a collapse of the project, and I think the latter self interest will take priority and they'll not want other countries to think this is a viable option for them. This may mean it being more expensive for us than it otherwise would have been if we were outside of the EU trying to gain market access than leaving the EU then trying to do it.
Reality is I think we are small fry when it comes to the potential of the whole EU project collapsing, to deny that the EU would not seek to prevent it is, for me, to deny the existence of self preservation.