| 释义 |
European Free Trade Association
(EFTA) A trade association formed in 1960 between Austria, Denmark, Norway, Portugal, Sweden, Switzerland, and the UK, with Finland, Iceland, and Liechtenstein joining later. The current members are Iceland, Liechtenstein, Norway and Switzerland as the other members left on joining the European Union (or its earlier communities). EFTA is a looser association than the EU, dealing only with trade barriers rather than generally coordinating economic policy. EFTA is governed by a council in which each member has one vote; decisions must normally be unanimous and are binding on all member countries. EFTA has bilateral agreements with the EU. All tariffs between EFTA and EU countries were abolished finally in 1984 and a free-trade area now exists between EU and EFTA member states (see European Economic Area). |