European Free Trade Association

The European Free Trade Association (EFTA) is a regional trade organization that promotes free trade and economic cooperation among its member countries. Established in 1960, EFTA was initially conceived as an alternative to the European Economic Community (EEC), which later evolved into the European Union (EU). EFTA’s primary objective is to facilitate trade and reduce barriers to commerce among its member states while allowing them to maintain their sovereignty and independence. 

EFTA promotes trade liberalization by eliminating tariffs and quotas on most industrial goods among its member states. This facilitates the smooth flow of goods, reduces trade barriers, and enhances economic cooperation.