European Free Trade Association (EFTA)

A free trade area established in 1960 under the Stockholm convention. Current members are Norway, Sweden, Switzerland, Austria, Liechtenstein, Iceland and Finland. Since 31 December 1966, all duties imposed by EFTA on imports from member countries have abolished and there are no export restrictions between member states. The agreement does not cover agriculture although individual agreements are permitted. Former members Denmark, Portugal and the UK subsequently joined the EU.