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EFTA consider invitation to UK after Brexit

The countries of the European Free Trade Association (EFTA) consider an invitation to UK after the country leave the EU, said the President of the Swiss Confederation, Johann Schneider-Ammann. During the last meeting, countries members of the Association (Iceland, Norway, Switzerland and Liechtenstein) discussed relations with Britain after leaving the EU. UK is an important trading partner of EFTA and the organization aims to maintain the trade and economic relations.

“I told some colleagues that if Britain is considering joining EFTA, Switzerland will be open for discussion”, said the President of the Swiss Confederation, Johann Schneider-Ammann.

It is need to achieve stability and predictability in relations under the new circumstances surrounding the status of Great Britain, according to EFTA members. They discussed also the conclusion of two trade agreements – with India and Indonesia in 2017, as well as progress in negotiations for similar agreements with Malaysia and Vietnam, as well as opening talks with Ecuador.

EFTA has begun talks with the countries of Mercosur, which opens the door for concluding a free trade agreement in the coming months.

Outside the EU, the organization has concluded 27 FTAs with 38 countries and territories. Just over 12% of exports to the four countries in the organization are geared towards those countries. Of them even comes 7.5% of imports to EFTA.

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