EFTA and South America’s Mercosur Agree on Free-Trade Deal (1)

The European Free Trade Association of Switzerland, Norway, Liechtenstein and Iceland concluded negotiations on a free-trade agreement with South America’s Mercosur countries in a push for more transatlantic commerce.

The FTA will “remove or reduce duties on more than 95% of goods currently exported to Mercosur by EFTA companies” over a period of 15 years, EFTA said in a statement Wednesday. It will enter into force three months after all member countries have ratified the pact.

Once that is the case, “EFTA states will abolish all customs duties on imports of industrial products, including fish and other marine products, ...