European Free Trade Association

Definitions

Accounting

  • noun a group of countries (Iceland, Liechtenstein, Norway and Switzerland) formed to encourage freedom of trade between its members, and linked with the EU in the European Economic Area.

Economics

  • noun a group of countries (Iceland, Liechtenstein, Norway and Switzerland) formed in 1960 to encourage freedom of trade between its members. EFTA countries are linked with the EU countries to form the EEA .

Politics

  • noun a union of Western European countries established to eliminate trade tariffs among member states The original members in 1960 were Austria, Denmark, the United kingdom, Norway, Portugal, Sweden and Switzerland. Current members are Iceland, Liechtenstein, Norway and Switzerland.
http://www.dictionarycentral.com/definition/european-free-trade-association.html