Saturday, August 26, 2006

CEFTA rules apply to Macedonia starting today

The Agreement for Accession of the Republic of Macedonia in the Central European Free Trade Agreement (CEFTA) officially comes into force today, the Macedonian Customs Administration announced.

As of today, our country is joining the incumbent CEFTA members - Croatia, Bulgaria and Romania - which automatically terminates the bilateral agreements with these Balkan's countries.

Pursuant to the Agreement, part of the imported goods originating from these countries will be subject to 0% customs duty, while the duty rates for some goods are subject to gradual decrease until full abolishment of the customs fee.

Benefits of inclusion in CEFTA for Macedonia include boosting of the economic cooperation, market liberalization, joint penetration to foreign markets and exchange of experiences with the other countries standing at the threshold of EU.

The Agreement on Accession of Macedonia to CEFTA is aimed at preparing the country for full market liberalization, as envisaged in EU strategic documents.

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