THE EFTA - CANADA FTA Sample Clauses

THE EFTA - CANADA FTA. CONTENT AND IMPLICATIONS The European Free Trade Association (EFTA) was established in 1960 by the Stockholm Convention. The original purpose of this intergovernmental organization was to remove customs duties on industrial products in trade among its Member States. The current members of EFTA are Iceland, Liechtenstein, Norway and Switzerland. In contrast to the European Union (EU), EFTA is not a customs union. Individual EFTA States set their own customs tariffs and trade measures vis- à-vis third countries. EFTA is a platform to strengthen relations with the European Union - through the European Economic Area of which Switzerland is not a Member - and for joint negotiations of FTAs with interested partners. Fifteen FTAs are currently in force and several are being negotiated.
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THE EFTA - CANADA FTA. The FTA will eliminate duties on practically all industrial products and abolish or reduce duties on many processed agricultural products. Tariff reductions relating to selected agricultural products are included in bilateral agricultural agreements negotiated between the individual EFTA States and Canada. The EFTA-Canada FTA strengthens economic and trade relations between Switzerland, the other EFTA States and Canada and guarantees mutually improved market access. It considerably enhances the network of FTAs established by the EFTA States since the beginning of the 1990s. In terms of trade flows, Canada will be the most important free trade partner of the EFTA States after the European Union. Swiss Federal Councillor Xxxxx Xxxxxxxx with the Canadian Minister of International Trade Xxxxx Xxxxxxx at the signing ceremony of the FTA in Davos, January 26, 2008.17 A Joint Committee is established to supervise and administer the FTA and oversee future developments. A chapter contains rules and procedures for the settlement of disputes.18 The focus of the Canada-EFTA FTA is on trade liberalization for goods by the removal of customs duties and other trade barriers. The agreement also includes provisions on competition policy and trade facilitation. Relating to areas such as services, investment and government procurement, the agreement foresees future negotiations.19 Through evolutionary clauses, the 17 Picture source: The Department of Foreign Affairs and International Trade, Canada: xxx.xxxxxxxxxxxxx.xx.xx/xxxxxxxx/xxxxx-xxxxxx/Xxxxx/xxxxxx.xxxx#XXXX 18 EFTA Secretariat: xxx.xxxx.xxx/xxxxxxx/xxxx-xxxxx/xxx-xxxxxxxxx/xxxxxx 19 Ministry of Foreign Affairs and International Trade Canada: xxx.xxxxxxxxxxxxx.xx.xx/xxxxx-xxxxxxxxxx-xxxxxxx- commerciaux/agr-acc/efta-aele.aspx?lang=en#2 Parties express their willingness to review the Agreement in the light of future developments in international economic relations, and to initiate negotiations where suitable. Concerning competition policy, the Agreement includes provisions directed towards the avoidance of restrictive business practices hindering the implementation of the Agreement. Both parties will inform one another about competition policy measures that could affect the interests of the other. Regarding provisions on trade facilitation, both parties commit to adhere to international standards when elaborating customs procedures as well as to work towards a collaboration of the customs authorities in order to avoid ...
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Related to THE EFTA - CANADA FTA

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