Consider the following statements about lsquo European Free Trade Association EFTA rsquo 1 It is a t...........

Economic Affairs Financial Institutions

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Consider the following statements about ‘European Free Trade Association (EFTA)’

1. It is a trade agreement between non-EU countries, members of which are now mostly located in South-eastern Europe

2. They participate in the European Single Market

3. It was signed by the Visegrád Group countries

Select the correct statements

1 only

2 only

1&3 only

None

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Explanation:

The European Free Trade Association (EFTA) is a regional trade organization and free trade area consisting of four European states: Iceland, Liechtenstein, Norway, and Switzerland. The organization operates in parallel with the European Union (EU), and all four member states participate in the European Single Market. They are not, however, party to the European Union Customs Union.
THINK!
•EFTA
•CEFTA
•CISFTA
•Visegrád Group