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The European Free Trade Association, commonly known as EFTA, is a regional trade organization established in 1960 by the Stockholm Convention. Its initial aim was to promote free trade and economic integration among its member states, providing an alternative to the then-European Economic Community (EEC).

EFTA's primary function is to facilitate free trade among its members through a network of bilateral free trade agreements and a multilateral agreement governing trade among the EFTA states themselves. These agreements typically cover the elimination of tariffs and quotas on industrial goods and fish, as well as provisions for trade in services and investment. EFTA also cooperates closely with the European Union (EU) through the European Economic Area (EEA) agreement, which extends the EU's single market to EFTA member states Iceland, Liechtenstein, and Norway. Switzerland, another EFTA member, does not participate in the EEA but has a separate set of bilateral agreements with the EU.

The current EFTA member states are Iceland, Liechtenstein, Norway, and Switzerland. Over the years, many countries have joined and subsequently left EFTA, often to join the European Union. EFTA continues to play a significant role in promoting global trade by negotiating free trade agreements with countries and blocs worldwide, complementing the trade policies of its individual member states.