EFTA

1. European Free Trade Association.

EFTA

/ ˈɛftə /

acronym

1. European Free Trade Association; established in 1960 to eliminate trade tariffs on industrial products; now comprises Norway, Switzerland, Iceland, and Liechtenstein. Free trade was established between EFTA and the EC (now EU) in 1984. In 1994 EFTA (excluding Switzerland) and the EU together created the European Economic Area (EEA)

Example Sentences

India on its part committed to reducing import tariffs on industrial products from the four European countries that comprise the European Free Trade Association, or EFTA.

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“I think it’s irresponsible to just blanket rubber stamp something that you don’t know anything about,” Efta then told council members.

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He recently said the UK should join EFTA, the organisation with access to the EU's single market but without membership of the bloc, as soon as possible.

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Nick Boles, the Conservative MP who proposed the EFTA/EEA motion - the so-called "Common Market 2.0" option - resigned from the party immediately after the vote results were announced.

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The Labour frontbench plan for a softer Brexit was defeated by 237 to 307, while a motion tabled by the Conservative MP George Eustice, which proposed staying in Efta and the EEA without a customs union, only gained 65 votes, with 377 against.

Read more on The Guardian