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HINA Zagreb, 23 December 2002CROATIA AND YUGOSLAVIA SIGN FREE TRADE AGREEMENTBELGRADE, Dec 23 (Hina) - Croatian Economy Minister Ljubo Jurcic and Yugoslav Vice-Premier Miroljub Labus signed a free trade agreement between the two
countries in Belgrade on Monday. "This is an important step in the normalisation of our relations," Labus said after the signing. He added that after the countries' parliaments ratified the agreement, 70 percent of industrial products and 30 percent of agricultural products would be exempt from customs tariffs, while customs tariffs for other products would be gradually cancelled in the next five years. The agreement stipulates the gradual establishment of a free trade zone, a process which should be completed by January 1, 2007. The agreement will come into effect pursuant to its ratification by the two countries' parliaments, which is expected to happen in the first quarter of 2003. "By 2007 we expe