The initial Stockholm Convention was superseded by the Vaduz Convention, with the aim of providing a successful framework for continued expansion and liberalization of trade among the organisation's member states and with the rest of the world.
The initial Stockholm Convention was superseded by the Vaduz Convention, which enabled greater liberalisation of trade among the member states. This development prompted the EFTA states to modernise their Convention to ensure that it will continue to provide a successful framework for the expansion and liberalization of trade among themselves and with the rest of the world.