European Free Trade Association
The European Free Trade Association (EFTA) is a free trade organisation between four European countries that operates in parallel with – and is linked to – the European Union (EU). The EFTA was established on 3 May 1960 as a trade bloc-alternative for European states who were either unable or unwilling to join the then-European Economic Community (EEC) which has now become the EU. The Stockholm Convention, establishing the EFTA, was signed on 4 January 1960 in the Swedish capital by seven countries (known as the "outer seven").
Today's EFTA members are Iceland, Liechtenstein, Norway, and Switzerland, of which the latter two were founding members. The initial Stockholm Convention was superseded by the Vaduz Convention, which enabled greater liberalisation of trade among the member states.
Central European Free Trade Agreement
The Central European Free Trade Agreement (CEFTA) is a trade agreement between non-EU countries in Southeast Europe.As of 1 July 2013, the parties of the CEFTA agreement are: Albania, Bosnia and Herzegovina, Macedonia, Moldova, Montenegro, Serbia and the United Nations Interim Administration Mission in Kosovo (UNMIK) on behalf of Kosovo.
Former parties are Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Slovakia and Slovenia. Their CEFTA memberships ended when they became member states of the European Union (EU).
Canada also sits on the Council and takes part in some projects under a Cooperation Agreement. Hungary, Estonia, Latvia and Slovenia are participating in the Plan for European Cooperating States (PECS), while other countries are in negotiation with ESA about joining this initiative.