CROATIA, BULGARIA SIGN FREE TRADE AGREEMENT

SOFIA/ZAGREB, Dec 4 (Hina) - Croatian Economy Minister Goranko Fizulic and his Bulgarian counterpart Nikolay Vassilev signed a Free Trade Agreement in Sofia on Tuesday. The agreement will come into force on January 1, 2001. After signing the free trade agreement with Bulgaria, Romania remains the only CEFTA member-country Croatia has not as yet signed such an agreement with. Negotiations between Croatia and Romania are expected to be completed in the first quarter of 2002, Fizulic told a press conference after the signing of the Croatian-Bulgarian Free Trade Agreement. According to Fizulic, by signing the agreements, Croatia will fulfil all conditions for joining the Central European Free Trade Agreement (CEFTA) as a full member by the next CEFTA Ministerial conference scheduled to take place in the first half of 2002. Fizulic said that in line with the agreement, 80 percent of Croatia's foreign trade would be conducted in line with the free trade regime. This should improve the position of Croatia's exporters, enable new investments, create new jobs and a better life standard. On behalf of his country, Vassilev expressed support to Croatia's joining the CEFTA. The Bulgarian-Croatian trade in 2000 amounted to US$11.2 million, while in the first ten months of 2001 the two countries' trade exceeded US$18 million. Croatia's export to Bulgaria amounted to close to US$8 million, which is 179 percent more than in the first ten months of 2000, while Bulgaria's export to Croatia amounted to US$10.6 million, or 65.4 percent more than the year before. The free trade agreement should further increase trade between the two countries. (hina) it sb