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CEFTA 2006

CEFTA 2006
Contestable issues regarding protection of particular parts of economy of signatory countries will be regulated by the Article 23 B, on which Serbia and Bosnia and Herzegovina insisted most, and Bulgaria and Romania will retreat after entering the European Union membership, on January 1, 2007. CEFTA 2006 agreement replaces existing 32 bilateral agreements on free trade between countries of the South-Eastern Europe and ensures formation of unique free trade zone in the region with 30 million inhabitants (with Bulgaria and Romania 55 million), that is potential buyers. When this agreement starts to function, all the products made on the territory of the region will be treated as being of CEFTA origin, regardless of the country they are exported from. Companies in the region will be able to cooperate through usage of raw material and final products and to place mutual products without customs on the European market. With this agreement, namely, it is defined that 100 percent of industrial products and 90 percent of agricultural products placed within the CEFTA region, are set on the zero-custom regime. That is to say, that they are not subject to custom duties.

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