EFTA
noun
COMMERCEukusabbreviationforEuropeanFree TradeAssociation: anorganizationthatincludesthegovernmentsof Iceland, Norway, Switzerland, and Liechtenstein, and whosepurposeis toencouragethosecountries'trade:
Scottishexportsto theEuropeanUnionaccountfor 58% oftotalexportsand EFTA for 12% of thetotal.