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EFTA

Exploring the European Free Trade Association (EFTA)

The European Free Trade Association (EFTA), established in 1960, is an intergovernmental organization comprising Iceland, Liechtenstein, Norway, and Switzerland. It aims to foster free trade and economic cooperation among member states. Unlike the European Union (EU), EFTA prioritizes trade facilitation over political integration. EFTA members access the European Single Market through agreements with the EU, benefiting from certain economic policies without full EU membership. Additionally, EFTA forms free trade agreements with non-EU countries, enhancing global economic ties. The organization serves a crucial role in promoting economic collaboration while preserving member states’ sovereignty.