ZAGREB, May 24 (Hina) - The first and final round of negotiations on a free trade agreement between Croatia and Lithuania was held at the Croatian Economy Ministry from May 22 through 24, at which the agreement was initialled, and its
signing announced for autumn.
ZAGREB, May 24 (Hina) - The first and final round of negotiations on
a free trade agreement between Croatia and Lithuania was held at the
Croatian Economy Ministry from May 22 through 24, at which the
agreement was initialled, and its signing announced for autumn.
#L#
Both sides stated that the negotiations were completed in time and
to mutual satisfaction, the ministry reported.
The agreement should come into effect on January 1, 2003.
The agreement's chief characteristics are the complete
liberalisation of trade with industrial products, while lists of
concessions for both sides were set fir trade with agricultural
products.
With regards to regulations on origin, the two sides agreed to apply
pan-European regulations.
The ministry said that Lithuania was the first country with which
diagonal cumulating of origin was agreed before Croatia's
accession into the pan-European diagonal cumulating system.
This means that goods produced in Croatia, in which components or
material from 30 members of the cumulating have been built in, will
have the predisposition to be considered goods of Croatian origin
when exported to Lithuania, and the same will be applied for
Lithuania's exports to Croatia.
In this way, customs benefits will be used in line with the
agreement.
(hina) lml