EEC,GATT and EFTA （Kyorin University）

Question
Wihin the EEC, GATT and EFAT, what kind of linkages were set up among European countries?

Answer
EEC: The EEC was established in 1958 for the pourpose of making a common market, at least a custom union based on internal free-trade and external common customs within member-states, which were orginally France, West-Germany, Italy, Belgium, Netherlands and Luxembourg.

GATT:While the EEC was a regional market with administrative and judicial institutions, GATT had been a general agreement for trade liberaliztion and tariff reduction in the framwork of the international economic system from 1948 to 1995 when WTO was set up by Marrakesh protocol merging the GATT.

EFTA: The first time the EFTA was established by the United Kingdom, Denmark, Norway, Sweden, Austria, Swiss and Portgal in 1960, it was a rival regional free-trade area against the EEC. The United Kingdom and Denmark, however, were finaly acknowledged member-states of the EEC after French rejections and seceded from the EFAT in 1973. Now, the EU and the EFTA concluded the EEA Treaty, with which they agreeded to proceed to intgrate both of markets.

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