CEFTA
The Central European Free Trade Agreement (CEFTA) is a trade agreement between Poland, the Czech Republic, Slovakia, Hungary, Slovenia, Romania, and Bulgaria.
CEFTA was established by Poland, Hungary and former Czechoslovakia on 21 December, 1992 in Krakow, Poland. Slovenia joined CEFTA in 1996, Romania in 1997, and Bulgaria in 1998.
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.
All the participating countries had previously signed association agreements with the EU, so in fact CEFTA serves as a preparation for full European Union membership, and all CEFTA countries have applied to join the EU (Poland, the Czech Republic, Hungary, Slovakia, Slovenia will join the EU in April, 2004). 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.
Croatia has also applied to join CEFTA but has yet to meet the entrance criteria.
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Referenced By
Economy of Slovenia | Foreign trade | Import | International Trade/Risks | International trade | List of international trade topics | Slovenia/Economy
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