EFTA advisory bodies address EFTA trade relations with acting Ministerial Chair against backdrop of changes in EU and US leadership

The meeting was co-chaired by Mr Benedikt Würth on behalf of the Parliamentary Committee (EFTA PC) and by Ms Sigríður Mogensen on behalf of the Consultative Committee (EFTA CC).

Fostering European economic integration

The advisory bodies extended their congratulations to the Ministerial Chair on the conclusion of negotiations on a free trade agreement with Kosovo in September 2024. They welcomed the swift conclusion of the process, which constituted another milestone in integrating the Western-Balkan countries into the European ecosystem. Furthermore, they emphasised the importance of concluding a modernised agreement soon with Ukraine. Mr Würth underlined that this carried great political importance, as it would contribute to the resilience of the Ukrainian economy in war time.

Ratification and implementation of agreement with India

The advisory bodies held an exchange of views with State Secretary Norvoll on the state of ratification and implementation of the EFTA–India Trade Economic Partnership Agreement, concluded in March 2024. As the EFTA States had committed to invest up to EUR 100 billion over the next 15 years, discussions focused on how to raise awareness in the EFTA States of investment opportunities in India.

The meeting was co-chaired by Mr Benedikt Würth on behalf of the Parliamentary Committee.

Trade negotiations in Asia ahead of EFTA PC visit to Malaysia in 2025

Advancing trade negotiations with partners in Asia and the Pacific was another core topic of the meeting, and the committees took stock of progress made with Thailand, Singapore, Vietnam and Malaysia. They discussed with the State Secretary preparations for the working visit by the EFTA PC and observers of the EFTA CC to Malaysia in April 2025, taking the opportunity to align expectations and maximise the impact of the forthcoming delegation visit. Also on the agenda were the recent signing of a joint declaration on economic cooperation with ASEAN and the release of a sustainability impact assessment on a future agreement with Thailand.

Building momentum in the Americas

The committees discussed in depth the impact of the US elections on the multilateral trading system and EFTA’s third-country relations. They expressed their continued eagerness to conclude a trade agreement with Mercosur, following their successful delegation visit to Argentina and Brazil in March 2024. They also raised awareness of the need to explore the possibility of re-launching the modernisation process with Mexico, as the EU is currently ahead of EFTA in this process.

Background

The EFTA PC and EFTA CC meet on a regular basis with ministers and high-level officials from the EFTA countries to advise on and review the EFTA trade agenda. The EFTA PC is a forum of parliamentarians from the four EFTA countries, while the EFTA CC brings together representatives of trade union confederations and employers’ associations from the Member States. The mission of both advisory bodies is to scrutinise issues that are relevant to their stakeholders and provide advice on trade relations with third countries, as well as on relations with the EU through the implementation of the EEA Agreement.

The meeting was co-chaired by Ms Sigríður Mogensen on behalf of the Consultative Committee.

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