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Croatia gets two new benchmarks for freedom of capital movements chapter

BRUSSELS, Sept 28 (Hina) - European Union President Finland has notified the Croatian government that two new benchmarks have been set for the freedom of capital movements chapter which will have to be met so that negotiations on that policy chapter could be opened, sources in Brussels said on Thursday.
BRUSSELS, Sept 28 (Hina) - European Union President Finland has notified the Croatian government that two new benchmarks have been set for the freedom of capital movements chapter which will have to be met so that negotiations on that policy chapter could be opened, sources in Brussels said on Thursday.

A decision to set the two new benchmarks was made by COREPER, the committee comprising the ambassadors of EU member states, at the suggestion of the European Commission.

One benchmark calls for the adoption of an action plan to combat money laundering, while the other one refers to the implementation of the Stabilisation and Association Agreement's regulations on the acquisition of real estate by foreigners.

The second benchmark does not call for Croatia to meet any new demands but only to fully and effectively implement existing procedures.

The SAA's Article 60 binds Croatia to liberalise the real estate market for foreigners, within four years of the Agreement's entry into force, namely 2009, by which time they may purchase real estate on the principle of reciprocity.

Of the 11 policy chapters processed so far by the EU Enlargement Task Force and COREPER, Croatia has been given benchmarks for five so that they could be opened. Benchmarks have been set for the policy chapters on public procurement, market competition, social policy and employment, justice, freedom and security, and now freedom of capital movements.

No additional benchmarks were set for six chapters -- science and research, education and culture, the customs union, the right of establishment and freedom to provide services, economic and monetary policy, and enterprise and industrial policy.

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