[amp_mcq option1=”To remove all tariffs on trade of industrial goods between the member countries” option2=”To aid the creation of a single west European market to help boost world trade” option3=”both (a) and (b)” option4=”None of the above” correct=”option3″]<\/p>\n
The correct answer is: C. both (a) and (b)<\/strong><\/p>\n EFTA was founded in 1960 by seven countries: Austria, Denmark, Norway, Portugal, Sweden, Switzerland, and the United Kingdom. The purpose of EFTA was to remove all tariffs on trade of industrial goods between the member countries, and to aid the creation of a single west European market to help boost world trade.<\/p>\n EFTA has been successful in achieving its goals. The member countries have enjoyed free trade in industrial goods since 1960, and they have also cooperated on a number of other issues, such as competition policy, intellectual property rights, and environmental protection.<\/p>\n EFTA has also played a role in the creation of the single market in the European Union. In 1994, EFTA and the EU signed the European Economic Area Agreement, which allowed EFTA countries to participate in the single market without joining the EU.<\/p>\n EFTA is a small organization, but it has played an important role in European integration. It has helped to promote free trade and economic cooperation between its member countries, and it has also contributed to the creation of the single market in the European Union.<\/p>\n Here is a brief explanation of each option:<\/p>\n [amp_mcq option1=”To remove all tariffs on trade of industrial goods between the member countries” option2=”To aid the creation of a single west European market to help boost world trade” option3=”both (a) and (b)” option4=”None of the above” correct=”option3″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[957],"tags":[],"class_list":["post-54692","post","type-post","status-publish","format-standard","hentry","category-basic-general-knowledge","no-featured-image-padding"],"yoast_head":"\n\n