Khemaphan Hoontrakul 5004640446 Phanomkwan Devahastin 5004640768 European Free Trade Association...
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- Khemaphan Hoontrakul 5004640446 Phanomkwan Devahastin 5004640768 European Free Trade Association (EFTA)
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- The European Free Trade Association (EFTA) was established on 3 May 1960 as a trade bloc-alternative for European states who were either unable to, or chose not to, join the then European Economic Community (now the European Union (EU). The EFTA Convention was signed on 4 January 1960 in Stockholm by the outer seven states which includes Austria, Denmark, Norway, Portugal, Sweden, Switzerland and UK. Today only Iceland, Norway, Switzerland, and Liechtenstein remain members of EFTA.
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- 1960 Austria, Denmark, Norway, Portugal, Sweden, Switzerland and the UK establish EFTA 1970 Iceland becomes a member of EFTA 1972 Denmark and the UK leave EFTA to join the EEC (EU) 1985 Portugal leaves EFTA to become a member of the EEC (EU) 1986 Finland becomes a full member of EFTA 1991 Liechtenstein becomes a member of EFTA 1995 Austria, Finland and Sweden leave EFTA to join the EU EFTA and the EU 2009
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- - Currently, the EFTA States have established preferential trade relations with 20 States and Territories, in addition to the 27 Member States of the European Union. - EFTA FTAs establish a free trade area between the partner countries, by providing for free trade in industrial goods, including fish and other marine products and processed agricultural products - Trade in basic agricultural products is covered in bilateral agreements between the individual EFTA States and the partner country, which form part of the instruments establishing the free trade area.
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- Nations the EFTA has an FTA with in dark blue, negotiating an FTA with in dark cyan, has a declaration on cooperation with in purple, and is in a "joint workgroup" with in dark red; the EFTA is light green.
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- - The Free Trade Agreement between EFTA and Canada entered into force on 1 July 2009. - The EFTA-Canada Free Trade Agreement, which is focused on trade in goods, has the potential to yield significant benefits for exporters in all five participating countries. - It provides new links between European and North-American supply and value chains. - The areas of services, investment and government procurement are the subject of reviews foreseen within three years after the entry into force. - The EFTA States main exports to Canada are mineral fuels, pharmaceutical and chemical products, as well as machinery. - Canada primarily exported nickel, aircraft, pharmaceutical products, machinery and mechanical appliances to EFTA.
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- Canadas top Commodity exports to EFTA member states (2008)
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- Canadas top Commodity imports from EFTA member states (2008)
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- Conclusion - Iceland, Switzerland and Liechtenstein have small population and limited natural resources, making them likely to benefit from import of natural resources, and manufactured products from Canada. - Norway, however, has larger land and natural resources compared to other members which can make them benefit from increase in exports to Canada. - Canada will benefit from exporting mineral and agricultural products to EFTA members, while EFTA will benefit from exporting marine product, fuels and capital goods. - Both EFTA and Canada will benefit from the bilateral agreement
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- http://en.wikipedia.org/wiki/European_Free_Trade_Associ ation#EFTA_and_the_European_Union http://www.efta.int/ http://www.efta.int/content/free-trade/trade- statistics/canada-commodities.pdf
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