EFTA

EFTA, or the European Free Trade Association, is a group of countries that agree to trade with each other freely, without tariffs or import taxes, to boost economic cooperation. It was established in 1960 as an alternative for countries not part of the European Union. EFTA member states, like Norway, Iceland, Liechtenstein, and Switzerland, maintain their own policies but benefit from reduced trade barriers among themselves and with other countries. The organization promotes free trade, economic collaboration, and negotiates trade agreements, helping members access larger markets while retaining control over their economic policies.