EFTAríkjanna

EFTAríkjanna refers to the EFTA states, which are Iceland, Liechtenstein, Norway, and Switzerland. These four European countries are members of the European Free Trade Association (EFTA). EFTA was established in 1960 as an alternative to the European Economic Community (EEC), the precursor to the European Union, for countries that did not wish to join the EEC at that time.

The primary goal of EFTA is to promote free trade and economic cooperation among its member states and with their trading partners. EFTA has a free trade agreement with the European Union, known as the European Economic Area (EEA) agreement. This agreement allows for the free movement of goods, services, capital, and persons between the EFTA states (with the exception of Switzerland) and the EU member states. Switzerland, while an EFTA member, has a series of bilateral agreements with the EU instead of participating in the EEA.

The EFTA states are known for their high standards of living and strong economies. They often collaborate on international trade negotiations and represent a significant economic bloc. While not members of the EU, their close economic ties through EFTA and the EEA highlight their integration into the broader European economic landscape. The organization continues to evolve its trade relationships globally.