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The Canada–European Free Trade Association Free Trade Agreement is a
trade agreement A trade agreement (also known as trade pact) is a wide-ranging taxes, tariff and trade treaty that often includes investment guarantees. It exists when two or more countries agree on terms that help them trade with each other. The most common t ...
between
Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tota ...
and the member states of the
European Free Trade Association 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 ...
(
Iceland Iceland ( is, Ísland; ) is a Nordic island country in the North Atlantic Ocean and in the Arctic Ocean. Iceland is the most sparsely populated country in Europe. Iceland's capital and largest city is Reykjavík, which (along with its ...
,
Norway Norway, officially the Kingdom of Norway, is a Nordic country in Northern Europe, the mainland territory of which comprises the western and northernmost portion of the Scandinavian Peninsula. The remote Arctic island of Jan Mayen and t ...
, Switzerland and
Liechtenstein Liechtenstein (), officially the Principality of Liechtenstein (german: link=no, Fürstentum Liechtenstein), is a German language, German-speaking microstate located in the Alps between Austria and Switzerland. Liechtenstein is a semi-constit ...
). Signed in Davos, Switzerland on January 26, 2008, it came into effect on July 1, 2009. The agreement is aimed at eliminating all tariffs on goods between Canada and EFTA members. In 1999,
Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tota ...
entered into free trade negotiations with the EFTA. Negotiations concluded successfully in June 2007, and the FTA between Canada and the EFTA States was signed on January 26, 2008. Bilateral Agreements on Agriculture between Canada and each EFTA State were appended to the CEFTA. Both came into effect on July 1, 2009. The agreement eliminates almost all tariffs, with certain agricultural and fishery products being excluded from immediate tariff elimination. Bilateral trade totaled $10.7 billion in 2006 (With Canadian imports from the EFTA valued at $7.6 billion and Exports to the EFTA at $3.1 Billion). Investments between the EFTA and Canada are valued at $22 billion in 2006. The agreement is Canada's first free trade agreement with any
Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a subcontinent of Eurasia and it is located enti ...
an nation.Canada - European Free Trade Association (EFTA)
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See also

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Comprehensive Economic and Trade Agreement The Comprehensive Economic and Trade Agreement (CETA) is a free-trade agreement between Canada and the European Union and its member states. It has been provisionally applied, thus removing 98% of the preexisting tariffs between the two parts. ...
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Economy of Canada The economy of Canada is a highly developed mixed-market economy. It is the 8th-largest GDP by nominal and 15th-largest GDP by PPP in the world. As with other developed nations, the country's economy is dominated by the service industry wh ...
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Trade bloc A trade bloc is a type of intergovernmental agreement, often part of a regional intergovernmental organization, where barriers to trade (tariffs and others) are reduced or eliminated among the participating states. Trade blocs can be stand-alone ...
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Economy of Iceland The economy of Iceland is small and subject to high volatility. In 2011, gross domestic product was US$12 billion, but by 2018 it had increased to a nominal GDP of US$27 billion. With a population o350,000 this is $55,000 per capita, based on pu ...
* Economy of Norway *
Economy of Liechtenstein The economy of Liechtenstein is based on industry, with a small but significant agricultural sector, and services (especially general services, including tourism and information technology). The country participates in a customs union with Sw ...
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Economy of Switzerland The economy of Switzerland is one of the world's most advanced and highly-developed free-market economies. The service sector has come to play a significant economic role, particularly the Swiss banking industry and tourism. The economy of Swi ...
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Canada's Global Markets Action Plan The Global Markets Action Plan (GMAP) was Prime Minister Stephen Harper's government strategy to generate employment opportunities for Canadians by expanding Canadian businesses and investment in other countries in a highly competitive global envi ...
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Free trade agreements of Canada The free trade agreements of Canada represents Canada's cooperation in multinational trade pacts and plays a large role in the Canadian economy. Canada is regularly described as a trading nation, considering its total trade is worth more than ...
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Rules of Origin Rules of origin are the rules to attribute a country of origin to a product in order to determine its "economic nationality". The need to establish rules of origin stems from the fact that the implementation of trade policy measures, such as tari ...
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Market access In international trade, market access is a company's ability to enter a foreign market by selling its goods and services in another country. Market access is not the same as free trade, because market access is normally subject to conditions or req ...
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Free-trade area A free-trade area is the region encompassing a trade bloc whose member countries have signed a free trade agreement (FTA). Such agreements involve cooperation between at least two countries to reduce trade barriers, import quotas and tariffs, and ...


References

{{DEFAULTSORT:Canada-European Free Trade Association Free Trade Agreement European Free Trade Association
European Free Trade Association 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 ...
Treaties of Iceland Treaties of Norway Treaties of Liechtenstein Treaties concluded in 2008 Treaties entered into force in 2009 Treaties of Switzerland