Wednesday, February 6, 2008

Canada and EFTA sign free trade agreement

On January 26, 2008, a Free Trade Agreement (FTA) between Canada and the States of the European Free Trade Association (EFTA) (Iceland, Liechtenstein, Norway, and Switzerland) and bilateral Agreements on Agriculture with Iceland, Norway and Switzerland were signed.

The Canada-EFTA FTA is a “first-generation” agreement with an emphasis on tariff elimination. It does not include substantial new obligations in areas such as services, investment, and intellectual property.

The EFTA countries are significant economic partners for Canada. In 2006, two-way merchandise trade was valued at $10.7 billion (Canadian exports: $3.1 billion; imports: $7.6 billion). In addition, two-way investment stocks reached over $22 billion in 2006.

For further details contact Foreign Affairs and International Trade Canada at:

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