The European Free Trade Association (EFTA) or European Free Trade is an intergovernmental treaty created to foster free trade and integration for the benefit of its members: Iceland, Liechtenstein, Norway and Switzerland.

The EFTA member countries are all open and competitive economies, large in size and in purchasing power.  Liechtenstein and Switzerland, the Alpine countries, are internationally recognized as financial centers and leaders in high innovation sectors such as pharmaceuticals and chemicals. Iceland and Norway, the Nordic countries, are characterized by the excellence of their industries and their abundance of natural and energy resources.

Colombia has worked to develop extended and strong relationships with this group of countries, resulting in the subscription of a Joint Declaration on Cooperation with EFTA in May, 2006, and the signature of the Free Trade Agreement with EFTA on November 25, 2008. 

The Free Trade Agreement with Switzerland and Liechtenstein became effective, in its first instance on July 1, 2011.  This is the first treaty of its kind with industrialized countries to become effective, creating a window of opportunity to increase the export of goods and services.  Consequently, this Agreement will contribute to promoting the growth of the Colombian economy and lead to greater development levels.