Cefta Agreement

 Uncategorized
Sep 132021
 

CEFTA 2006 replaces the 1992 Central European Free Trade Agreement (CEFTA) and bilateral free trade agreements. The Agreement proposes a single, predictable and long-term legal framework that contributes to the development of bilateral and multilateral trade and economic relations between Member States. CEFTA 2006 is an agreement with modern provisions, with a high degree of liberalization, including trade in industrial products, effective cooperation and coordination procedures, and transparent mechanisms for the application of trade defence measures. CEFTA 2006 provides for the establishment of a dispute settlement mechanism for trade disputes or the use of the WTO instrument. International investment agreements (IIAs) are divided into two types: (1) bilateral investment agreements and (2) investment agreements. on cooperation in the field of investments and/or a mandate for future investment negotiations. In addition to AIIs, there is also an open category of investment-related instruments (IRIs). As soon as a participating country joins the European Union (EU), its accession to CEFTA ends. Since 1 July 2013, the parties to CEFTA have been on behalf of Kosovo: Albania, Bosnia and Herzegovina, Moldova, Montenegro, North Macedonia, Serbia and UNMIK.

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