CEFTA agreement as a vehicle for economic cooperation in SEE

Časopis: Ekonomika preduzeca

Volume 66

ISSN: 2406-1239

DOI: 10.5937/EKOPRE1806356R

Stranice: 356-370

Link: https://www.ses.org.rs/uploads/ekonomika_preduzeca_5-6-2018_190816_134827_258.pdf

The aim of this paper is to indicate the importance of economic cooperation for the development of regional economy of CEFTA countries and achieving better results using advantages of joint projects and access to third markets. As a free trade agreement, CEFTA has facilitated increased cooperation in the region, particularly among traditional partners that welcome the use of zero-rate customs. Ten years after signing the agreement, marked by constant improvement of trading terms between partners, CEFTA members have to find new ways to increase their trade in the conditions of economic stagnation and expand it with the EU countries. New synergies have to be achieved in order to raise trade above the current level. Also, every CEFTA member has to make an effort to resolve political conflicts and remove any nontariff barriers that could limit current cooperation. Finally, the importance of CEFTA is paramount for accession of each Western Balkan country to the EU.
Ključne reči: CEFTA, EU, regional cooperation, economic development, nontariff barriers