European Free Trade Association
The European Free Trade Association (EFTA) is a European trade bloc which was established on 3 May 1960 as an alternative for European states who didn't join the EEC. EFTA currently has four member states: Iceland, Norway, Switzerland, and Liechtenstein; just Norway and Switzerland are founding members.
The EFTA Convention was signed on 4 January 1960 in Stockholm by 7 states: Austria, Denmark, Norway, Portugal, Sweden, Switzerland and the United Kingdom. Finland became an associate member in 1961 and a full member in 1986; Iceland joined in 1970 and Liechtenstein did the same in 1991.
The United Kingdom and Denmark left in 1973, when they joined the European Community (EC). Portugal left EFTA in 1986, when it also joined the EC. Austria, Finland and Sweden ceased to be EFTA members in 1995 by joining the European Union, which superseded the EC in 1993.
Read more about this topic: Modern Europe
Famous quotes containing the words european, free, trade and/or association:
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