European Free Trade Association (EFTA)
History and Membership. The Stockholm Convention establishing the Association entered into force on 3 May 1960. Founder members were Austria, Denmark, Norway, Portugal, Sweden, Switzerland and the UK. With the accession of Austria, Denmark, Finland, Portugal, Sweden and the UK to the EU, EFTA was reduced to four member countries: Iceland, Liechtenstein, Norway and Switzerland. In June 2001 the Vaduz Convention was signed. It liberalizes trade further among the four EFTA States in order to reflect the Swiss–EU bilateral agreements.