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European Free Trade Association

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  • Anonymous

Abstract

The convention of the newest European economic organization, the European Free Trade Association (EFTA), was initialed in Stockholm, Sweden, on November 20, 1959, by cabinet ministers of Austria, Denmark, Norway, Portugal, Sweden, Switzerland, and the United Kingdom. Under terms of the Stockholm agreement, according to the press, the seven nations were to eliminate trade barriers toward each other on a gradual basis designed to bring full free trade by 1970. Import tariffs in force on January 1, 1960, were due to be reduced 20 percent as of July 1, with subsequent tariff cuts at the rate of 10 percent a year. In addition to gradual mutual freedom of trade, the seven nations agreed to economic integration and harmonization of wages, social benefits, and other production cost factors. However, unlike the six members of the European Economic Community (EEC), the seven planned to retain their national tariff systems toward the exports of non-members.

Suggested Citation

  • Anonymous, 1960. "European Free Trade Association," International Organization, Cambridge University Press, vol. 14(1), pages 219-220, January.
    • Handle: RePEc:cup:intorg:v:14:y:1960:i:1:p:219-220_17
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    Cited by:

    1. Trocan, Laura Magdalena, 2010. "The European Free Trade Association – 50 Years of Existence," Annals - Juridical Science Series, Constantin Brancusi University, Faculty of Juridical Sciences, vol. 1, pages 141-164, April.
    2. Molina, Ana Cristina & Khoroshavina, Vira, 2018. "How regional trade agreements deal with disputes concerning their TBT provisions?," WTO Staff Working Papers ERSD-2018-09, World Trade Organization (WTO), Economic Research and Statistics Division.
    3. McDaniels, Devin & Molina, Ana Cristina & Wijkström, Erik, 2018. "How does the regular work of WTO influence regional trade agreements?," WTO Staff Working Papers ERSD-2018-06, World Trade Organization (WTO), Economic Research and Statistics Division.
    4. Christodoulos Kaoutzanis & Paul Poast & Johannes Urpelainen, 2016. "Not letting ‘bad apples’ spoil the bunch: Democratization and strict international organization accession rules," The Review of International Organizations, Springer, vol. 11(4), pages 399-418, December.

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