Банкеръ Weekly

Briefs

BULGARIA WILL SIGN BILATERAL TRADE AGREEMENTS

Bulgaria will shortly sign bilateral free trade agreements with Albania, Bosnia and Herzegovina, Croatia and Yugoslavia under a memorandum of understanding for trade liberalization and promotion. The document was signed last Wednesday in Brussels by representatives of the five countries, Macedonia and Romania, said the Economy Ministry press centre.
Under the memorandum, the countries must shortly sign such bilateral agreements. The memorandum was agreed upon within a working group on trade liberalization and promotion with Working Table 2 of the Stability Pact for South East Europe.
Bulgaria has already signed free trade agreements with Romania within CEFTA, and with Macedonia on a bilateral basis. The bilateral agreements on trade liberalization will be based on common principles. The duty rates and import/export qualitative restrictions will be removed. For the sensitive goods this will be done within a transition period of no longer than six years.

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