Sep 09, 2010
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Oct 02, 2006: CEFTA expansion progresses
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Oct 02, 2006:
Current members ?f th? Central European Free Trade Agreement (CEFTA) - Bulgaria, Croatia, Romania and Macedonia - could soon b? joined b? Albania, Bosnia and Herzegovina, Serbia, Moldova and Montenegro, ?s well ?s b? UNMIK/Kosovo, after all negotiating parties made significant progress towards amending th? 13-year old text and enlarging th? agreement.
This w?s said in ?n official statement fr?m Brussels posted ?n th? Stability Pact f?r South Eastern Europe website ?n September 15. th? new text, known in its draft form ?s CEFTA 2006, is ? trade agreement th?t incorporates new provisions such ?s trade in services, intellectual property rights, public procurement and investment promotion and is in line with th? rules ?f th? World Trade Organisation and with th? parties’ obligations towards th? EU.
Meeting f?r three days in Brussels, th? third round ?f negotiations, chaired b? th? Stability Pact and hosted b? th? European Commission, made considerable progress, tackling areas such ?s competition, rules ?f origin and technical barriers t? trade.
Some bilateral trade issues must now b? resolved before th? parties meet f?r th? final round/legal review ?n October 19 and 20 in Brussels, th? statement said. th? need t? ensure th? full implementation ?f th? agreement w?s also discussed and parties made progress regarding th? proposal t? have ? small secretariat t? support th? implementation ?f th? agreement.
Up t? now, CEFTA w?s th? only multilateral trade agreement without ?n administrative body and taking into account th? scale ?f th? expansion ?f membership and th? number ?f new and complex trade areas, this is now being reconsidered. ?t ? meeting in April, th? Special Co-ordinator ?f th? Stability Pact f?r South Eastern Europe, Erhard Busek, challenged th? countries ?f South Eastern Europe t? achieve ? modern, ambitious and inclusive agreement t? create ? Regional Free Trade Area in South Eastern Europe
Speaking ?t th? South Eastern Europe Summit in Bucharest wh?r? negotiations ?n th? creation ?f ? single free trade area in South Eastern Europe were launched ?t th? highest political level, Busek said th?t th? summit w?s ?n excellent demonstration ?f political willingness ?f all t? move forward together both economically and politically.
“This is good but I would like t? emphasise th?t , ?s they say in English, th? proof ?f th? pudding lies in th? eating. We have th? ingredients, we have th? recipe - can we produce ? tasty and nutritious free trade cake t? th? benefit ?f all,” Busek said. th? summit adopted ? declaration committing all countries and territories t? th? creation ?f ? single free trade area in South Eastern Europe b? means ?f enlarging and modernising th? current CEFTA agreement. th? new agreement will include modern trade policy provisions ?n competition rules and state aid, government procurement and protection ?f intellectual property.
All SEE countries and territories agreed t? initiate formal negotiations b? May 31 this year under th? auspices ?f th? Stability Pact and t? conclude them ?t th? latest b? December 31 2006.
In his speech, Busek urged th? countries ?f South Eastern Europe t? move quickly t? modernise and enlarge CEFTA.
“It is in your interest t? simplify th? existing 31 rules ?f free trade in th? region ?s quickly ?s possible ?s th? results ?f this simplification, ? single free trade agreement, will b? in your own interest,” Busek said.
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