PORGES MEETS U.S. CREDIT RATING ASSESSMENT AGENCY DELEGATION

( Editorial: --> 5521 ) ZAGREB, April 8 (Hina) - Croatian Economy Minister Nenad Porges held talks with a delegation of the US credit rating assessment agency Moody's Investors Services on Wednesday. The visit by the US delegation is part of regular annual check-ups and inspection into Croatia's credit rating. Last year the agency awarded Croatia a BBB- credit rating. A credit rating assessment is very important for conditions under which Croatia, that is, individual companies and commercial banks, will be granted loans on the international financial market. The US delegation showed most interest in the current situation in the Croatian economy and forecasts of future economic developments. Porges informed his guests about the progress made in talks on Croatia's accession to the World Trade Organisation (WTO), which are expected to be completed by the end of this year. The Croatian minister also spoke about the course of talks on the signing of free trade agreements with some countries, especially with the countries of the Central European Free Trade Agreement (CEFTA), which is a precondition for the growth of trade between Croatia and those countries. Porges informed the US delegation about the measures the Croatian Government was taking in the process of financial reorganisation and privatisation in the industrial sector and promoting the development of small and medium-scale entrepreneurship. These measures are aimed at further promoting production, modernising technology, increasing the number of foreign investments - especially those by strategic investors - and at increasing Croatia's export potential, Porges said. These measures will lead to the improvement of the overall competitive ability of the Croatian economy in foreign markets and the reduction of the foreign trade deficit, Porges said. (hina) jn rm /mb 081608 MET apr 98