Delegates from countries in the European Free Trade Association arrived at the Foz Palace, Lisbon, May 19, for a meeting of the council.
Delegates from countries in the European Free Trade Association arrived at the Foz Palace, Lisbon, May 19, for a meeting of the council. Main object of the 2-day session is to agree on the posture to be adopted by the Seven at the next meeting of the trade committee - representing EFTA, the Common Market countries, the United States and Canada, in Paris, June 8.
Until the failure of the Summit conference, it had been believed that Finland would decide to join the association at this meeting. Helsinki now discloses that Finnish delegates in Lisbon are not empowered to commit their country to entry.
Finland has been granted three concessions to enable her to join the European Free Trade Association without impairing her trade with Russia. 1. She may abolish her tariffs on industrial goods progressively over 15 years, whereas the other member states must do so over ten years. 2. Is free from the obligation of abolishing all quantitative import restrictions. 3. May withdraw from EFTA at three months notice.