English version

European Free Trade Association

From Longman Business DictionaryEuropean Free Trade AssociationˌEuropean ˌFree ˈTrade Associˌation abbreviation EFTA nounCOMMERCE an area in which goods and services can be traded freely, with no taxes on imports, established by Austria, Denmark, Norway, Portugal, Sweden, Switzerland, and Britain in 1958 to compete with the EUROPEAN ECONOMIC COMMUNITY. Both groups are now part of the EUROPEAN ECONOMIC AREA
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