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CEFTA 2006 was signed on 19 December 2006 by Albania, Bosnia and Herzegovina, Bulgaria, the Republic of Croatian, Macedonia, Moldova, Montenegro, Romania, Serbia and UNMIK / Kosovo. Romania and Bulgaria as of 1 January 2007, joined the European Union, and withdrew from CEFTA. Montenegro after ratification in parliament began with the full implementation of the Agreement on 26 July 2007.

The main objectives of the Agreement on the Establishment of the Central European Free Trade Agreement (CEFTA) the harmonization of economic relations between the States Parties through the development of trade, accelerate the development of commercial activities, raising living standards and providing better employment opportunities, increase productivity and achieve financial stability.

The agreement discussed: technical barriers to trade, as well as new areas that have not been treated with bilateral free trade agreements, trade in services, investment, public procurement, intellectual property rights protection and arbitration in case of dispute.

The most important newspapers CEFTA agreement in relation to the earlier bilateral agreements, which are of special interest for the economy are:

the possibility of application of diagonal cumulation of origin of goods;
introduction of progressive liberalization of trade in services;
obligations equalizing conditions for investment through the application of WTO rules and ensuring equal treatment of domestic and investors from the region;
the gradual opening of public procurement markets and equal treatment of domestic and suppliers from countries in the region;
ensuring the protection of intellectual property rights in accordance with international standards;
improve the mechanism for resolving disputes that arise during the implementation of the Agreement;
obligation to comply with WTO rules, regardless of whether a country is a member of the organization or not.

Since the entry into force of CEFTA 2006, Montenegro, Bosnia, Serbia, Croatia and Albania apply duty-free regime for all industrial products originating in the signatory countries, while the Republic of Macedonia, Republic of Moldova and UNMIK / Kosovo, the part of the product which are not liberalized at the date of entry into force of the agreement, gradually reduced and abolished import duties in the transitional period until 31 December 2008. After this date trade in industrial products is fully liberalized, the customs duties are not paid to industrially produce originating from signatory countries.

Montenegro, since the signing of CEFTA 2006, has a free trade in agricultural products with Serbia, Bosnia and Herzegovina, Macedonia and UNMIK / Kosovo, while trade between Montenegro and Albania, Croatian and Moldova took place under some degree of protection. The tariff rates are applied to a number of products for import and export to Albania and Croatia, while the preferential rate within quota for certain products, agreed with Albania, Croatian and Moldova.

Additional Protocol on further liberalization was signed in Brussels on 11 February 2011, and the instruments of ratification of the Depositary are first submitted to the Republic of Albania, Croatia and Macedonia, and the Additional Protocol, for this country, entered into force on 13 November 2011. For Serbia, the Additional Protocol entered into force on 15 December 2011 and for Montenegro on 6 January 2012. From that day began the implementation of agreed liberalization with Albania and the continued application of the agreed liberalization of the Croatian. Agreed liberalization with Moldova applied since 13 January 2012, with the entry into force of the Additional Protocol in Moldova.

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