| 单词 | European Free Trade Association |
| 释义 | European Free Trade Association = EFTA A trade association formed in 1960 between Austria, Denmark, Norway, Portugal, Sweden, Switzerland, and the UK. Finland, Iceland, and Liechtenstein joined later while the UK, Denmark, Portugal, Austria, Finland, and Sweden left on joining the European Union (or its earlier forms). EFTA is a looser association than the EU, dealing only with trade barriers rather than generally coordinating economic policy. All tariffs between EFTA and EU countries were abolished finally in 1984. EFTA is governed by a council in which each member has one vote; decisions must normally be unanimous and are binding on all member countries. In 1992 the European Economic Area (EEA) was formed to facilitate the movement of goods, services, capital, and labour between all EU and EFTA countries with the exception of Switzerland. EFTA has also signed economic cooperation treaties with some former eastern bloc countries. |
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