Q. Consider the following statements regarding “European Free Trade Association (EFTA)”:
1. India and EFTA started negotiating a broad-based Trade and Investment Agreement in 2008.
2. The four EFTA countries are part of the European Union (EU).
Which of the statements given above is/are not correct?

[A] 1 only 

[B] 2 only 

[C] Both 1 and 2 

[D] Neither 1 nor 2

Answer: B
Notes:

Explanation: The European Free Trade Association (EFTA) is a four-nation bloc founded by the Stockholm Convention in 1960. Iceland, Liechtenstein, Norway, and Switzerland are the EFTA States. 

  • The inter-governmental organization is for the promotion and intensification of free trade to benefit the member countries.  
  • It was founded as an alternative for states that did not wish to join the European Community. The four EFTA countries are not part of the European Union (EU). 
  • India and EFTA started negotiating a broad-based Trade and Investment Agreement in 2008. 

Source: FORUMIAS 

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