Cefta Trade Agreement

The agreement was amended by the agreements signed in Brno on 11 September 1995 and in Bled on 4 July 2003. The latter CEFTA is a modern and comprehensive regional free trade agreement, conceived as an integral part of the parties` pre-accession agenda and, where appropriate, in line with their WTO obligations. It provides a strong legal basis for policy formulation and implementation in key areas related to trade and investment. To date, three of the original signatories, Bulgaria, Croatia and Romania, have left the Agreement on Accession to the European Union in accordance with Article 51. A 2004 OECD study analysed non-tariff barriers to trade in the CEFTA region and found that the main non-tariff barriers it faced when exporting to the EU were technical barriers to trade. Studies have shown that private sector concerns in these sectors are closely linked to delays in the registration and release of goods, as well as transparency, lack of consultation and time to adapt to new laws and regulations. The CEFTA region is committed to removing administrative barriers to trade. In the future, a significant challenge has been that half of the parties to CEFTA are not members of the WTO, so the TFA is not directly applicable to them. Prior to this visual field, the region developed a specific instrument: the Protocol on Trade Facilitation (CEFTA Additional Protocol 5). Today, the slogan of international trade is trade facilitation. Trade-related administrative and procedural measures can significantly impede the efficient flow of goods across national borders.