EU wants W. Balkans countries to create single trade area
(Brussels, DTT-NET.COM)-European Commission (EC) called on Western Balkan countries to speed up efforts to create a new single trade area in the region, in order as it says, to better promote trade and economic development.
EC said in a statement that current bilateral free trade agreements between the countries of the region (Albania, Bosnia and Herzegovina, Croatia, Serbia and Montenegro and Kosovo and Macedonia) are insufficient and they should be transformed in a single regional agreement.
“The Commission supports the rapid conclusion of a regional Free Trade Agreement (FTA) between the countries of the region”.
The countries signed a memorandum of understanding in June 2001 and since then began reaching bilateral agreements, while Kosovo (which is officially part of Serbia and Montenegro) is having difficulties to reach such deals with neighbours on its own. Up till now only Albania and Macedonia has signed for free of customs flow of goods with UN administration (UNMIK) of on behalf of Kosovo.
During last five year these countries have increased the free flow of goods and services, part of European Union 1999 strategy to promote trade exchanges between Western Balkans countries and boost local economies. But the call of the EC is not obligatory to Bulgaria and Romania who also have been part of the network of bilateral agreements with Western Balkans.
The EC said that the new regional FTA agreement is expected to be concluded by mid-2006 and enter into force 2007.
As Bulgaria and Romania are to join the EU in January next year or at latest in January 2008, they are to walk out of the trade network with Balkan region.
EC also said that “a zone of diagonal cumulation of origin will be established between the EU and the countries of region that have concluded free trade agreements with the EU (currently Croatia and the former Yugoslav Republic of Macedonia), as a first step before the inclusion of the region in the Pan-Euro-Mediterranean System.”
EC said in a statement that current bilateral free trade agreements between the countries of the region (Albania, Bosnia and Herzegovina, Croatia, Serbia and Montenegro and Kosovo and Macedonia) are insufficient and they should be transformed in a single regional agreement.
“The Commission supports the rapid conclusion of a regional Free Trade Agreement (FTA) between the countries of the region”.
The countries signed a memorandum of understanding in June 2001 and since then began reaching bilateral agreements, while Kosovo (which is officially part of Serbia and Montenegro) is having difficulties to reach such deals with neighbours on its own. Up till now only Albania and Macedonia has signed for free of customs flow of goods with UN administration (UNMIK) of on behalf of Kosovo.
During last five year these countries have increased the free flow of goods and services, part of European Union 1999 strategy to promote trade exchanges between Western Balkans countries and boost local economies. But the call of the EC is not obligatory to Bulgaria and Romania who also have been part of the network of bilateral agreements with Western Balkans.
The EC said that the new regional FTA agreement is expected to be concluded by mid-2006 and enter into force 2007.
As Bulgaria and Romania are to join the EU in January next year or at latest in January 2008, they are to walk out of the trade network with Balkan region.
EC also said that “a zone of diagonal cumulation of origin will be established between the EU and the countries of region that have concluded free trade agreements with the EU (currently Croatia and the former Yugoslav Republic of Macedonia), as a first step before the inclusion of the region in the Pan-Euro-Mediterranean System.”
posted by Marko at 1/28/2006 01:03:00 AM
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