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CROATIA AND CZECH REPUBLIC SIGN FREE TRADE AGREEMENT

PRAGUE/ZAGREB, Nov 12 (Hina) - Croatia and the Czech Republic signed a free trade agreement in Prague Monday. Under the agreement, which goes into force January 1, 2002, the tariff rate in the two countries' trade in industrial products should be zero percent, while that in agricultural products is regulated by lists of concessions on both sides. Trade between Croatia and the Czech Republic in the first eight months of 2001 increased by 25.6 percent in relation to the same time period last year, reaching US$162.4 million. However, a large Croatian deficit is still notable. The free trade agreement has been signed after similar ones were signed with Slovakia and Poland over the last week. So far, Croatia has these agreements with five Central European Free Trade Agreement members. The agreements have already been signed with Hungary and Slovenia, and will soon be signed with Bulgaria and Romania, thus meeting all req
PRAGUE/ZAGREB, Nov 12 (Hina) - Croatia and the Czech Republic signed a free trade agreement in Prague Monday. Under the agreement, which goes into force January 1, 2002, the tariff rate in the two countries' trade in industrial products should be zero percent, while that in agricultural products is regulated by lists of concessions on both sides. Trade between Croatia and the Czech Republic in the first eight months of 2001 increased by 25.6 percent in relation to the same time period last year, reaching US$162.4 million. However, a large Croatian deficit is still notable. The free trade agreement has been signed after similar ones were signed with Slovakia and Poland over the last week. So far, Croatia has these agreements with five Central European Free Trade Agreement members. The agreements have already been signed with Hungary and Slovenia, and will soon be signed with Bulgaria and Romania, thus meeting all requirements for joining the CEFTA, which process should be completed by spring 2002. Croatia has signed bilateral free trade agreements also with Macedonia and Bosnia-Herzegovina, and it is expected to do the same with Turkey by the end of 2001 and continue negotiating with Israel. The agreements have been signed with the European Free Trade Association members, while the Stabilisation and Association Agreement was signed with the European Union at the end of October. Croatia is entering 2002 with approximately 30 bilateral agreements on free trade, which cover over 80 percent of the foreign trade. This will bring huge changes to the Croatian market, and make it easier for domestic companies to access foreign markets. (hina) np sb

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