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EFTA Working Group discuss Financial Technology

On 12 and 13 June 2018 the EFTA Financial Services Working Group met in Liechtenstein to discuss challenges and opportunities within the field of financial technology (FinTech).

EFTA and Georgia hold a trade promotion seminar

EFTA and Georgia jointly held a trade promotion seminar on 7 June 2018 in Tbilisi, organised in cooperation with the Georgian Swiss Business Association (GSBA). The EFTA – Georgia Free Trade Agreement (FTA) entered into force for Georgia, Iceland and Norway on 1 September 2017 and for Switzerland and Liechtenstein on 1 May 2018. There is great interest in the new agreement and the seminar was well attended with over 160 participants from private companies and government authorities.

EFTA States and Canada continue exploratory discussions

Delegations from the EFTA States and Canada met on 5 to 6 June 2018 in Ottawa, Canada, to further explore a possible modernisation and expansion of their existing free trade agreement. Ambassador Harald Aspelund from Iceland acted as EFTA Spokesperson, and Mr Louis Marcotte, Director General for Trade in Services, Investment and Intellectual Property, Global Affairs Canada, headed the Canadian delegation.

EEA EFTA Comment on the EU Cybersecurity Agency (ENISA) and the Cybersecurity Act

On 6 June 2018, Iceland, Norway and Liechtenstein submitted a joint EEA EFTA Comment on the proposal for a Regulation of the European Parliament and of the Council concerning the European Union Agency for Network and Information Security (ENISA) ( the ‘EU Cybersecurity Agency’) and repealing Regulation (EU) 526/2013 , and on the Information and Communication Technology cybersecurity certification (“Cybersecurity Act”) (COM(2017) 477 final).

Incorporation of the General Data Protection Regulation (GDPR) into the EEA Agreement and continued application of Directive 95/46/EC

The General Data Protection Regulation (GDPR) (EU) 2016/679 entered into force in the EU on 25 May 2018. A lot of work has been undertaken in recent months to ensure its timely incorporation into the EEA Agreement. A Joint Committee Decision (JCD) incorporating the GDPR is expected to be adopted by the EEA Joint Committee on 6 July 2018 and enter into force in the EEA EFTA States in mid-July 2018.

Incorporation of GDPR into the EEA Agreement