The pact enters into force following Norway's ratification of the agreement on April 13, according to the Peruvian Ministry of Foreign Trade and Tourism, or Mincetur.
Meanwhile Peru's trade deals with the other EFTA members Liechtenstein and Switzerland have been in force since July 2011 and with Iceland since October last year.
In 2011, trade between Peru and EFTA countries reached about US$6.13 billion.
Created in 1960, the EFTA is a trade bloc which aims to promote free trade and economic integration among its members. The negotiations between EFTA and Peru were launched in March 2007.
The FTA covers a broad range of areas, notably trade in goods (industrial and processed agricultural goods, fish and other marine products), investment, protection of intellectual property rights, government procurement, competition and cooperation.