ZAGREB, Jan 13 (Hina) - Hungary and Croatia on Saturday morning initialled a free trade agreement, which is expected to be signed during the forthcoming visit of Hungarian Premier Viktor Orban to Zagreb.
ZAGREB, Jan 13 (Hina) - Hungary and Croatia on Saturday morning
initialled a free trade agreement, which is expected to be signed
during the forthcoming visit of Hungarian Premier Viktor Orban to
Zagreb.#L#
"The agreement is important as it opens the door of the Hungarian
market for Croatia's products and makes it possible for our
products to have the same access to that market such as products
from the European Union and CEFTA have," read a statement released
by the Croatian Economy Ministry today.
The deal also facilitates Croatia's approach to the membership in
CEFTA (the Central European Free Trade Agreement).
Hungary is the first country outside the area of the former
Yugoslavia and the second CEFTA member to make such an agreement
with Croatia.
The implementation of the free trade agreement will start
immediately after the signing of the document which is likely to be
in April.
As soon as the agreement takes effect, tariffs will be revoked for
over 80 percent of industrial products from both countries. The
tariffs for the rest will be eliminated on 1 January 2002.
The liberalisation of the trade in agricultural produce will be
conducted in compliance with the so-called CEFTA model, which
implies the complete revocation of tariffs for certain groups of
products, the equalised level of tariffs for another group of
goods, while the third category will include a cut in tariffs on
certain amounts of agricultural produce.
(hina) ms