Central European Free Trade Agreement

Central European Free Trade Agreement

Infobox Geopolitical organization
name = Central European Free Trade Agreement (CEFTA)
linking_name = the Central European Free Trade Agreement

map_caption = Map members
org_type = Trade agreement
membership_type = Member states
membership = ALB
languages_type = Official languages
languages = Albanian, Bosnian, Croatian, Macedonian, Moldovan, and Serbian
leader_title1 =
leader_name1 =
established_event1 = Signed
established_date1 = 21 December 1992
area_km2 = 309,125
area_sq_mi = 119,354
percent_water =
population_estimate = 30,936,824
population_estimate_rank =
population_estimate_year = 2007
population_density_km2 = 100.07
population_density_sq_mi =
population_density_rank =
GDP_PPP = $236.6 billion
GDP_PPP_rank =
GDP_PPP_year = 2007 (IMF)
GDP_PPP_per_capita = 7,649
GDP_PPP_per_capita_rank =
GDP_nominal =
GDP_nominal_rank =
GDP_nominal_year =
GDP_nominal_per_capita =
GDP_nominal_per_capita_rank =
currency = Albanian Lek, Bosnia and Herzegovina konvertibilna marka, Croatian kuna, Euro, Macedonian denar, Moldovan leu, Serbian dinar
currency_code = ALL, BAM, HRK, EUR, MKD, MDL, RSD
time_zone = CET / EET
utc_offset = +1 / +2
time_zone_DST = CEST / EEST
utc_offset_DST = +2 / +3


Original agreement

Original CEFTA agreement was signed by Visegrád Group countries, that is by Poland, Hungary and Czech and Slovak republics (at the time parts of the Czech and Slovak Federative Republic) on 21 December 1992 in Kraków, Poland. It entered into force since July 1994. Through CEFTA, participating countries hoped to mobilize efforts to integrate Western European institutions and through this, to join European political, economic, security and legal systems, thereby consolidating democracy and free-market economics.

The agreement was amended by the agreements signed on 11 September 1995 in Brno and on 4 July 2003 in Bled.

Slovenia joined CEFTA in 1996, Romania in 1997, Bulgaria in 1999, Croatia in 2003 and Macedonia in 2006.

CEFTA 2006 agreement

All of the parties of the original agreement had now joined the EU and thus left CEFTA. Therefore it was decided to extend CEFTA to cover the rest of the Balkan states, which already had completed a matrix of bilateral free trade agreements in the framework of the Stability Pact for South Eastern Europe. On April 6, 2006, at the "South East Europe Prime Ministers Summit" in Bucharest, a joint declaration on expansion of CEFTA to Albania, Bosnia and Herzegovina, UNMIK on behalf of Kosovo, Moldova, Serbia and Montenegro was adopted. [http://www.eciks.org/english/lajme.php?action=total_news&main_id=417] Accession of Ukraine has also been discussed. [http://www.unian.net/eng/news/news-160543.html] The new enlarged agreement was initialled on November 9, 2006 in Brussels and has been signed on December 19, 2006 at the South East European Prime Ministers Summit in Bucharest. [http://www.euinkosovo.org/upload_press/Central%20European%20Free%20Trade%20Agreement%20initialled.pdf] The agreement went into effect on July 26, 2007 for Albania, Kosovo, Macedonia, Moldova and Montenegro, and on August 22 for Croatia. Bosnia and Herzegovina ratified it on September 6, [http://www.birn.eu.com/en/102/15/4077/] while Serbia completed the final legal procedures on September 24, 2007. [http://www.b92.net/eng/news/politics-article.php?yyyy=2007&mm=09&dd=24&nav_category=94&nav_id=44017] The agreement aims at establishing a free trade zone in the region by 31 December 2010.

Relations with the EU

All former participating countries had previously signed association agreements with the EU, so in fact CEFTA has served as a preparation for full European Union membership. Poland, the Czech Republic, Hungary, Slovakia, Slovenia joined the EU on May 1 2004, with Bulgaria and Romania following suit on January 1 2007. Croatia does not yet have a date specified, but is in the process of accession negotiations, and is expected to join EU in 2010 or 2011. Macedonia is also an official candidate country of the EU.

At the EU's recommendation, the future members prepared for membership by establishing free trade areas. A large proportion of CEFTA foreign trade is with EU countries.

ee also

*Economy of Europe
*Enlargement of the European Union
*European Free Trade Association (EFTA)
*Free trade areas in Europe
*Stability Pact for South Eastern Europe (including a matrix of bilateral FTAs)
*Visegrád Group

External links

* [http://www.worldtradelaw.net/fta/agreements/cefta.pdf Original CEFTA Treaty]
* [http://www.stabilitypact.org/trade/Cefta%20Agreement%20Amendment%20of%20and%20Accession%20to%20the%20Central%20European%20Free%20Trade%20Agreement%20-%20Preamble.pdf Preamble of the CEFTA Agreement Amendment of and Accession to the Central European Free Trade Agreement (CEFTA 2006 Agreement)]

Central European Free Trade Agreement (CEFTA)

Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Central European Free Trade Agreement — Flagge der CEFTA ██ CEFTA Mitglieder …   Deutsch Wikipedia

  • European Free Trade Association — Infobox Geopolitical organisation conventional long name = European Free Trade Association (EFTA) linking name = the European Free Trade Association symbol type = Logo image symbol = EFTA logo.svg map caption = org type = Trade bloc membership… …   Wikipedia

  • Free Trade Agreement — Ein Free Trade Agreement (FTA) ist ein Freihandelsabkommen, welches zwischen mindestens zwei Staaten geschlossen wird und Handelsbarrieren wie Zölle, Export /Importbeschränkungen und dergleichen abbauen soll. Folgende Abkommen führen diese… …   Deutsch Wikipedia

  • North American Free Trade Agreement — NAFTA redirects here. For other uses of the acronym, see Nafta (disambiguation). North American Free Trade Agreement Tratado de Libre Comercio de América del Norte (Spanish) Accord de Libre échange Nord Américain (French) …   Wikipedia

  • Morocco–United States Free Trade Agreement — The US Morocco Free Trade Agreement (or Morocco FTA) is a bilateral trade agreement between the United States and Morocco. The agreement was signed on June 15, 2004, followed by U.S. President George W. Bush s signing of the USMFTA Implementation …   Wikipedia

  • New Zealand–China Free Trade Agreement — The New Zealand – China Free Trade Agreement is a bilateral free trade agreement signed between the People s Republic of China and New Zealand in April 2008. It is the first free trade agreement that China has signed with any developed country,… …   Wikipedia

  • Free Trade Area of the Americas — The Free Trade Area of the Americas (FTAA) (Spanish: Área de Libre Comercio de las Américas (ALCA), French: Zone de libre échange des Amériques (ZLÉA), Portuguese: Área de Livre Comércio das Américas (ALCA), Dutch: Vrijhandelszone van de Amerika… …   Wikipedia

  • Free trade area — This is article is on free international trade. For information on special economic zones within countries, see Free trade zone.Free trade area is a designated group of countries that have agreed to eliminate tariffs, quotas and preferences on… …   Wikipedia

  • Free trade areas in Europe — At present, there are two free trade areas (FTAs) in Europe outside of the European Union (EU). 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… …   Wikipedia

  • Central European Initiative — The Central European Initiative or CEI [http://www.ceinet.org] , is a political, economical, cultural and scientific international organisation founded in 1989. It now counts 18 member states: Albania, Austria, Belarus, Bosnia and Herzegovina,… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.