ZAGREB, March 14 (Hina) - The Croatian-Hungarian Business Club held the first meeting since the two countries signed a free trade agreement on Feb. 22 in Zagreb on Wednesday. Representatives of 18 Hungarian and 78 Croatian companies
held talks on possibilities of cooperation. Under the agreement, 80 percent of industrial goods become duty-free as of April 1, and the rest early next year, said Tibor Suelt, head of Hungary's Trade Office in Zagreb. He called on Croatian businessmen to use the advantages. Tariffs on agricultural and food products are cancelled immediately, in accordance with CEFTA principles. Maximum tariffs are restricted for some products, while the third group falls into the category of products whose tariff rates are cut according to specific annual quotas. The other tariff rates are decreased annually and will get to the level of best benefits, envisaged by the agree
ZAGREB, March 14 (Hina) - The Croatian-Hungarian Business Club held
the first meeting since the two countries signed a free trade
agreement on Feb. 22 in Zagreb on Wednesday. Representatives of 18
Hungarian and 78 Croatian companies held talks on possibilities of
cooperation.
Under the agreement, 80 percent of industrial goods become duty-
free as of April 1, and the rest early next year, said Tibor Suelt,
head of Hungary's Trade Office in Zagreb. He called on Croatian
businessmen to use the advantages.
Tariffs on agricultural and food products are cancelled
immediately, in accordance with CEFTA principles. Maximum tariffs
are restricted for some products, while the third group falls into
the category of products whose tariff rates are cut according to
specific annual quotas.
The other tariff rates are decreased annually and will get to the
level of best benefits, envisaged by the agreement, by 2004 at the
latest.
According to Suelt, Croatia's export to Hungary in 2000 totalled
$60.2 million, while Hungary's export to Croatia was $174.3
million.
Croatia and Hungary will cooperate to develop a joint
infrastructure, in the power industry, and in the renovation,
development and usage of Croatia's biggest harbour, in the northern
Adriatic city of Rijeka, where the two countries founded a mixed
company set to invest $30 million in the harbour, said Suelt.
He also mentioned investing in the Metro store chain.
Tourists from Hungary were eighth in Croatia's 2000 turnover, which
this year is expected to increase. Hungary is also interested in
financially participating in the privatisation of Croatia's
tourist sector and other big companies set to undergo privatisation
after financial restructuring.
(hina) ha sb