European Free Trade Association
Proper noun
Meaning
English Wikipedia has an article on:European Free Trade AssociationWikipedia
European Free Trade Association
A trade association composed of Iceland, Liechtenstein, Norway and Switzerland
Examples
In 1960 the UK was one of the seven founding members of the European Free Trade Association (EFTA), but in 1973 it left to join the European Economic Community (EEC).
Prior to 2009, Iceland already enjoyed a high degree of integration with the EU through membership in the European Economic Area (EEA)European Free Trade Association (EFTA)North Atlantic Treaty Organization (NATO).
It has signed free trade agreements with the European Free Trade Association (EFTA), Israel, and many other countries.
Liechtenstein has been a member of the European Economic Area (an organization serving as a bridge between European Free Trade Association (EFTA) and EU) since May 1995.
On June 24, 2010 Ukraine's Foreign Minister Kostyantyn Hryshchenko signed an agreement on free trade with the European Free Trade Association (EFTA).
This union also led to its independent membership in the European Free Trade Association (EFTA) in 1991.