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EFTA concludes free trade pact with Croatia

EFTA has recently signed a trade pact with Mexico [EFTA]

Switzerland is set to sign a joint trade agreement with Croatia following a deal struck between Zagreb and the European Free Trading Association (EFTA).

EFTA has announced the conclusion of a pact with Croatia aimed at opening markets for goods between Zagreb and its member nations.

The pact was negotiated in just four months, and will be formally ratified at a ministerial meeting in Liechtenstein in June. The agreement will come into force from the beginning of next year.

EFTA is comprised of four nations: Switzerland, Liechtenstein, Iceland and Norway, and accounts for around 2.5 per cent of global trade.

Separate trade deals with a number of other nations are also underway. In December, EFTA signed a declaration of cooperation, the first step towards a full free trade pact, with the Yugoslav Federation of Serbia and Montenegro.

It has already negotiated a pact with Mexico, and talks are due to start with Singapore next month.

swissinfo with agencies


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