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I quote his words exactly: “EFTA states participate in the EU’s Single Market and Schengen Area but are not part of the Customs Union.
On the investment front, DTI said Switzerland has been the country’s major partner in EFTA and a “regular” source of foreign investments in the European Region.
Source: https://businessmirror.com.ph/2023/02/14/trade-deal-with-efta-working-well-dti/