Running head: TRADE AGREEMENT 1 Trade Agreements By: ABC Date
TRADE AGREEMENT 2 Trade Agreements 1- Name of agreement CEFTA (Central European Free Trade Agreement) Introduction The Central European Free Trade Agreement (CEFTA) was signed on 21 December 1992 by Visgrad Group. It is hoped that due to this agreement the efforts can be mobilized in order to integrate the Western European institutions as well as join European economic, political, legal and security system. The main goal was to combine free-market economies and democracy. The farmer parties of this agreement were Poland, Slovakia, Croatia, Bulgaria, Czech Republic, Croatia, Hungary, Romania, Bulgaria, and Slovenia. According to the agreement of 2006, it was decided by the CEFTA to cover the state of Balkan. Countries involved Albania, Bosnia and Herzegovina, Kosovo, Moldova, Macedonia, Montenegro, and Serbia. Date agreement implemented The agreement was signed on 21 December 1992 and implemented 1 March 1993. Pros of agreement This is the liberal and modern free trade agreement that may cover approximately 90% mutual exchange of the particular region. On the other hand, the 2006 agreement of CEFTA stimulates more exchange growth as well as the competitiveness of the products. The multilateral CEFTA agreement makes able the easy cross-border production due to the rules of protocol. CEFTA agreement provides easy access to the market of approximately 25 million inhabitants[Che17]. Cons of agreement The members of the CEFTA stands the reason that veterinary, agricultural as well as the phytosanitary policies may harmonize in accordance with the European Union Common
TRADE AGREEMENT 3 Agricultural Policy. This is like the barrier of the trade that creates the discrimination in the particular industry or the country[Cef18].
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