The Ministerial Council of EFTA (European Free Trade Area) met in Berne, Switzerland, Oct 11.?
The Ministerial Council of EFTA (European Free Trade Area) met in Berne, Switzerland, Oct 11. The 2-day session is the second meeting since the Stockholm convention, by which EFTA was established, came into force, and is also the first ministerial meeting since EFTA began its tariff reduction programme last July. The first tariff cut, beginning on July 1, was of 20 per cent in rates on industrial goods.
So far, an EFTA spokesman said, the cut had not led to any "screams" from any of the seven member states about adverse effects on trade and trading prospects.
The EFTA countries - UK, Norway, Sweden, Denmark, Switzerland (with which the tiny principality of Liechtenstein is linked in a customs union), Austria, and Portugal, - plan to abolish by 1970 at the latest protective tariffs on imports of industrial goods produced entirely or mainly in the EFTA area, and all quantitative restrictions on imports from the area, while carrying out special arrangements for trade in some products.