At present, there are six multi-lateral free trade areas in Europe, and one former free trade area in recent history. Note that there are also a number of bilateral free trade agreements between states and between trade blocks; and that some states participate in more than one free trade area.
EU
The European Union (EU) has always operated as more than a free trade area with its predecessor, the European Economic Community (EEC) being founded as a customs union. The EU has free trade agreements to varying levels with most other European countries.
EU Single Market
The EU shares its single market with three EFTA members via the European Economic Area agreement, and the remaining EFTA member—Switzerland—via bilateral agreements.
EU Customs Union
The European Union Customs Union is a customs union which consists of all the member states of the European Union and Turkey, San Marino, Monaco, Andorra and the UK territory of Akrotiri and Dhekelia which are outside of the EU. In addition to allowing for free trade between states, the customs union imposes a common external tariff on all goods entering the area.
EFTA
The European Free Trade Association (EFTA) was created in 1960 by the outer seven (as a looser alternative to the then-European Communities) but most of its membership has since joined the Communities/EU leaving only four countries (Iceland, Norway, Switzerland and Liechtenstein) still party to the treaty. The United Kingdom is the only former EFTA member which is not currently part of the EU, following its withdrawal in 2020.
CEFTA
Following the fall of the Iron Curtain, two free trade areas were created in Central Europe, the Baltic Free Trade Area (BAFTA) and the Central European Free Trade Agreement (CEFTA), in order to stabilise these countries for membership of the EU. With the 2004 EU enlargement, the original members of both of these have left these agreements and joined the EU.
CEFTA has expanded into southern Europe with members from the Western Balkans and Moldova. All of the new CEFTA countries are prospective members of the EU and hence EFTA is the only free trade area with a long-term future, as there are no immediate plans for these countries to change their present status. However, CEFTA may gain new members in the form of countries neighbouring the present EU.
EAEU Eurasian Economic Space
On October 10, 2000, in Astana, the heads of Belarus, Kazakhstan, Russia, Tajikistan and Kyrgyzstan signed the Treaty on the Establishment of the Eurasian Economic Community (entered into force on May 30, 2001), which called for the creation of a free trade regime among members.
In 2005, the Organization of Central Asian Cooperation (OCAC), an international organization that existed from 2002 to 2005, which aimed, among other things, to create a free trade area, whose members included Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and Russia, was merged into the Eurasian Economic Community. In 2008, Uzbekistan withdrew from the Eurasian Economic Community.
EurAsEC Single Economic Space
On February 23, 2003, the presidents of Russia, Kazakhstan, Belarus and Ukraine declared their intention to form a Single Economic Space, and on September 19, 2003 they signed an agreement of intent to guarantee four economic freedoms, including a free trade area. This agreement was named "Common Economic Zone" (CEZ) among Belarus, Kazakhstan, the Russian Federation and Ukraine in the WTO's Regional Trade Agreements Information System. In June 2006, this project was incorporated into the Eurasian Economic Community.
In August 2006, the Eurasian Economic Community decided on the establishment of the Customs Union between the three willing states - Belarus, Russia and Kazakhstan. Ukraine's position was to create a free trade area without restrictions and exemptions and conditions for the movement of capital, services and labor, but without devaluing its fiscal, customs and budgetary sovereignty and creating any supranational bodies.
In 2009, supranational integration bodies began their work. In Belarus, Russia and Kazakhstan, the Customs Union entered into force in July 2010, and the Single Economic Space, which provides for a free trade regime, entered into force on January 1, 2012.
EAEU Eurasian Economic Space
EurAsEC Single Economic Space was superseded by the Eurasian Economic Space of the Eurasian Economic Union established by Belarus, Kazakhstan, and Russia on January 1, 2015. The current members of the EAEU are Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.
The EAEU is designated as "Plurilateral" Agreement by the WTO's Regional Trade Agreements Information System