CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. EFTA And Canada Conclude Free Trade Talks

EFTA And Canada Conclude Free Trade Talks

by Ulrika Lomas, Tax-News.com, Brussels

11 June 2007


Negotiations on a free trade agreement between the European Free Trade Area (EFTA) states and Canada have been concluded, the Swiss government has announced.

The free trade agreement between the EFTA states (Switzerland, Norway, Iceland and Liechtenstein) and Canada will eliminate or reduce duties on industrial goods and processed agricultural products respectively. In terms of trade in services, investment and public procurement, negotiations are expected to be taken up within three years of the agreement's entry into force. Alongside the free trade agreement, the individual EFTA states have negotiated agreements with Canada on agriculture.

Following the completion of the legal review of the agreement text, it is planned that the pact will be signed at ministerial level in the course of this year.

The agreement with Canada serves to consolidate the network of free trade agreements established by the EFTA states since the beginning of the 1990s. Canada will become the largest free trade partner of the EFTA states after the European Union. After the USA, Canada is Switzerland's second most important trade partner on the American continent.

For Switzerland, a country dependent on exports to diversified markets worldwide, the conclusion of free trade agreements with important partner countries - alongside membership of the WTO and the contractual relations with the European Union - is one of three main pillars in its policy of market liberalisation and of improving the framework conditions for foreign trade.

In January, Swiss Federal Councillor Doris Leuthard and ministers from the European Free Trade Area (EFTA) signed a free trade agreement with the Egyptian Minister of Trade and Industry. EFTA ministers have also met with the Indonesian Minister of Trade to discuss the feasibility of a comprehensive trade agreement.

The free trade agreement between EFTA and Egypt liberalises trade in industrial products and processed agricultural products. It also contains provisions concerning the protection of intellectual property rights, competition and technical cooperation.

The Swiss government has said that the agreement concluded with Egypt, together with those already concluded with other countries from the Euro-Mediterranean area (Turkey, Israel, Morocco, Palestinian Authority, Jordan, Lebanon and Tunisia) will enable the EFTA States to continue their efforts with a view to participating in the Euro-Mediterranean Free Trade Area, which is in the process of being established - following an EU initiative - as part of the Barcelona Declaration.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »