7.
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Brief description of the Agreement:
The Agreement covers trade
in goods, including industrial products, fish and other marine products, and
agricultural products. It aims to liberalise trade in goods in conformity
with the relevant WTO provisions. By 1 September 2024, customs duties on
almost all products will have been eliminated.
In addition, the
Agreement includes provisions on trade in services, investment, intellectual
property rights, e-commerce, government procurement, competition, trade and
sustainable development, and cooperation, as well as horizontal, institutional
and dispute settlement provisions. This is the first agreement signed by EFTA
containing a chapter on e-commerce.
The Agreement establishes a
Joint Committee which, among other functions, will supervise and examine the
application thereof.
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