b'3.1.4. Everything but Arms (EBA) Another component of the EUs GSP scheme is Everything but Arms (EBA), introduced in March 2001.24 Excluding arms and armaments, it provides complete tariff and quota-free access to the EU market for the 49 least-developed countries (LDCs) as defined by the United Nations. A full list appears in Appendix 12.A major drawback of EBA is its concentration on commodities. This can have the effect of focusing the economies of developing countries on raw materials, rather than trying to increase added-value businesses and so develop a diverse economy.Given the list above, one has to ask, why does the UK not have an FTA - already agreed? Is this perhaps because it was never properly asked for? Now to the EUs closer relationships encompassing trade. 3.2. The EUs closer relationships - Encompassing trade 3.2.1. European Free Trade Association (EFTA) EFTA (the European Free Trade Association)is an arrangement whereby EFTA states pay is now often referred to. The UK was afor full access to the EU Single Market founding member in 1960 when the UKand in turn comply with Single Market sought a counterweight to the EEC. EFTAregulations. still exists and has four members: Norway, Iceland, Switzerland and Liechtenstein.Let us consider the advantages that EFTA However, the total GDP of the four EFTAcountries have. They are exempt from countries ($1.1 billion),25 is only around halfboth the Common External Tariff and EU that of the UK ($2.8 billion).26 external trade policy. This means that they can import goods from non-EU countries It is important to note that in addition tounder their own tariff regimes, and are free its agreements with the EU, EFTA had 28to conclude their own trade agreements with FTAs, together with six joint declarations onother countries, something which the UK is cooperation in 2018.27 not allowed to do under EU regulations, and even in a Customs Union. The EFTA countriesexcept Switzerland, discussed separately belowjoined theFor example, since July 2009, EFTA European Economic Area (EEA) in 1994. Thishas entered trade agreements with a74'