Customs Union, European Free Trade Association to negotiate creation of free trade zone

November 22, 2010 - 16:34 AMT

PanARMENIAN.Net - On November 23, official negotiations between Customs Union states and European Free Trade Association on creation of free trade zone will be launched in Geneva.

The idea of free trade zone creation was initiated by Russia. The parties are expected to reach an agreement on cooperation in the spheres of trade, services, investments, competition and intellectual property protection, vesti.kz reported.

Current members of European Free Trade Association (EFTA), customs union and trading block are Iceland, Liechtenstein, Norway, and Switzerland. Customs union became the second EFTA partner, who entered into negotiations with Kazakhstan and Belarus, presented as a single regional block.

EFTA strives towards goals: to establish free trade among members and to seek a broader economic union with the rest of Western Europe.

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