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- European Free Trade Association (EFTA)
Represents largest after EAST ECONOMIC COMMUNITY a trade and economic grouping of
countries of Western Europe.
- She was created as a result of job of the Stockholm conference in 1960 by
Austria, Denmark, Norway, Portugal, Sweden, Switzerland and Great Britain. Later with her
were connected Iceland and Finland, and Great Britain, Denmark and Portugal send after the
annexation to the European Community (EU);
- EFTA - less rigid association, than EU, she is occupied by questions of trade barriers,
instead of general(common) coordination of an economic policy. All tariffs between
countries EFTA and EU were finally cancelled in 1984. EFTA Advice(council) supervises, in
which each the country - member has one vote. Usually decisions should be accepted
unanimously and are obligatory for all members.
- EFTA is invoked to promote:
• Prompt shaping(forming) of free trade zone by manufactured goods;
• development of economic activity;
• To achievement more full employments of the population of countries which are included
in association, increase in them of financial stability are possible;
• More rational use of resources and natural resources;
• Increase of labour productivity in all branches of economy.
- Today members of this association still are
Iceland, Norway and Switzerland (other former members
Enter nowadays into structure of East Economic COMMUNITY). Thus, the association in a
present kind represents a regional trade and economic grouping. Thus each of countries
carries out(conducts) an independent foreign trade policy with the third states, and the
free trade inside is provided by means of rigid monitoring behind derivation of the
goods. The members of a grouping save the independent tariffs concerning the third
countries.
By the main trade partner of association as of today remains to East Economic COMMUNITY.
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