EFTA strikes trade deal with Mexico
The European Free Trade Association has reached a landmark deal with Mexico to abolish import tariffs on a range of goods and services.
EFTA, made up of Switzerland, Norway, Iceland and Liechtenstein, concluded the negotiations with Mexico in just three months.
The agreement abolishes import duties for Swiss goods until the year 2007. Services provided by banks and insurance companies will also be free of tariffs.
The agreement includes a provision to regulate the protection and development of direct investments.
In return, EFTA will remove duties on imports of various Mexican products, especially tropical goods.
The deal gives Switzerland the same trading benefits as the European Union and the United States.
The agreement will come into effect on July 1, 2001.
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