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EU LIBERALISES TEXTILE TRADE WITH CROATIA

ZAGREB, Nov 13 (Hina) - A recently initialled textile trade agreement between the European Commission and Croatia is the first and very important step in the establishment of trade and economic relations with the European Union, given that textile products account for one fourth of Croatia's overall expert to the EU. The positive effects of the agreement may be expected in the coming months, Economy Minister Goranko Fizulic said on Monday. The export of textile products could increase by 15-25 percent, he estimates. The agreement, which abolishes all quantity restrictions the EU applied for textile products, will come into force on Jan. 1. It also represents a sort of precedent as other countries in transition first had to wrap up negotiations and were only then allowed on the EU market, said Fizulic. Croatia's textile export to the EU last year totalled $542 million, which is 26 percent o
ZAGREB, Nov 13 (Hina) - A recently initialled textile trade agreement between the European Commission and Croatia is the first and very important step in the establishment of trade and economic relations with the European Union, given that textile products account for one fourth of Croatia's overall expert to the EU. The positive effects of the agreement may be expected in the coming months, Economy Minister Goranko Fizulic said on Monday. The export of textile products could increase by 15-25 percent, he estimates. The agreement, which abolishes all quantity restrictions the EU applied for textile products, will come into force on Jan. 1. It also represents a sort of precedent as other countries in transition first had to wrap up negotiations and were only then allowed on the EU market, said Fizulic. Croatia's textile export to the EU last year totalled $542 million, which is 26 percent of Croatia's entire export to the EU. Textile export in the first nine months amounted to $182 million, with about 90 percent going to the EU, and the rest to neighbouring Slovenia and Bosnia and Herzegovina, and countries under the Central European Free Trade Agreement. Croatia is expected not to raise tariffs on textile products imported from the EU for the duration of the agreement, and to harmonise its technical regulations and norms with those in force in the EU, especially in connection with requests for certification and labelling. (hina) ha jn

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