The Role, The Importance and the Perspectives of a CEFTA Free Trade Zone

Dusica Karic

Ekonomika, Journal for Economic Theory and Practice and Social Issues, 2011, vol. 57, issue 4

Abstract: A characteristic of the contemporary world scene is a market that does not recognize traditional, time and geographical limits. Creating new market rules, the economic organizations integrate, and the products and services internationalize and go out of their own locality. The product of this attitude is the opening of the national borders. In this way, the national economies are merging into regional organizations of economic character. In the sphere of globalization of the world economy, there is more and more urgent need for the inclusion into the world economic developments of all countries that are market oriented. The particular is the need for an intensive exchange of goods, services, labor and capital. For all the countries of South-Eastern Europe, including Serbia, the main challenge is to join the European Union. The challenges are primarily in the harmonization of customs and other policies, the institutions, as well as the adjustment of the economies of those countries, mostly in transition, to a liberal market economy principle. Market liberalization brings many benefits to trade, such as the abolition of import and export taxes, free flow of goods and capital, the abolition of monopoly and increasing of competition brings lower prices and higher quality of products and services for final customers. Just CEFTA or Central European Free Trading Agreement, represents an agreement of the Central European free trade agreement. Its main role is to prepare the signatory countries to join the European Union.

Keywords: International; Relations/Trade (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ags:sereko:289243

DOI: 10.22004/ag.econ.289243

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