Swiss-Norway Group and South America’s Mercosur Agree on Free-Trade Deal

The European Free Trade Association of Switzerland, Norway, Liechtenstein and Iceland concluded negotiations on a free-trade agreement with South America’s Mercosur countries in a push for more transatlantic commerce.

The FTA will “remove or reduce duties on more than 95% of goods currently exported to Mercosur by EFTA companies” over a period of 15 years, EFTA said in a statement Wednesday. It will enter into force three months after all member countries have ratified the pact.