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EFTA, Albania Add New Chapter To FTA

by Ulrika Lomas, Tax-News.com, Brussels

23 September 2015


The European Free Trade Association (EFTA) states and Albania have signed a protocol to their Free Trade Agreement (FTA) that provides for greater protection on labor and environmental issues.

The protocol was signed in Geneva on September 18.

The FTA has been in force in Albania, Liechtenstein, and Switzerland since November 2010, and in Iceland since October 2011. It abolished all customs duties on industrial products upon entry into force in the respective jurisdictions. It also contains articles on intellectual property rights, services and investment, and public procurement.

Albania's exports to the EFTA have more than tripled since 2010 and are now worth nearly USD20m a year.

TAGS: environment | investment | free trade agreement (FTA) | Iceland | intellectual property | tariffs | trade treaty | Albania | Liechtenstein | excise duty | Switzerland | trade | free trade zone | services

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