Members of the CEFTA:
Central European Free Trade Agreement
CEFTA was originally established in 1992 to promote trade between countries in Central and Eastern Europe that do not belong to the European Union. Today, CEFTA comprises the 8 Balkan states of Albania, Bosnia and Herzegovina, Moldova, Montenegro, North Macedonia, Serbia and Kosovo. The aim of CEFTA is to facilitate free trade between the member states and prepare them for accession to the European Union.The seven member states currently cover an area of [SurfaceArea] km² with a population of 19.65 million.
Official website: https://cefta.int/
| Country | Commencement | Population | Area | GDP |
|---|---|---|---|---|
| Albania | 2007 | 2.78 M | 29,000 km² | 18.92 bn US$ |
| Bosnia and Herzegovina | 2007 | 3.23 M | 51,000 km² | 24.47 bn US$ |
| Kosovo | 2007 | 1.76 M | 11,000 km² | 9.41 bn US$ |
| Moldova | 2007 | 2.54 M | 34,000 km² | 14.51 bn US$ |
| Montenegro | 2007 | 0.62 M | 14,000 km² | 6.23 bn US$ |
| North Macedonia | 2006 | 2.06 M | 26,000 km² | 13.56 bn US$ |
| Serbia | 2007 | 6.66 M | 88,000 km² | 63.56 bn US$ |
Free trade and preparation for the EU
The main objectives of CEFTA include the promotion of trade and economic development through the reduction of trade barriers, the harmonization of product standards and the improvement of administrative processes in trade. The agreement also aims to create a stable political and economic framework that attracts foreign investment and strengthens regional cooperation. One success of CEFTA is the significant increase in the volume of trade between the member countries. This was achieved through the standardization of trade rules and customs procedures.CEFTA is similar to other regional trade agreements in that they all promote free trade and the economic integration of their members. However, a distinguishing feature of CEFTA is its specific focus on preparing its member states for EU membership by adopting and implementing EU standards.
Despite its successes, CEFTA also faces challenges and criticism, particularly with regard to the full implementation of the agreement and compliance with the rules. Critics complain that political instability, differing levels of economic development in the member states and a lack of legal enforcement are hampering the effectiveness of the agreement.
Former member countries
| Country | Exit | Population | Area | GDP |
|---|---|---|---|---|
| Bulgaria | 2007 | 6.47 M | 111,000 km² | 90.35 bn US$ |
| Croatia | 2013 | 3.86 M | 57,000 km² | 71.60 bn US$ |
| Czechia | 2004 | 10.67 M | 79,000 km² | 290.57 bn US$ |
| Hungary | 2004 | 9.64 M | 93,000 km² | 177.34 bn US$ |
| Poland | 2004 | 36.82 M | 313,000 km² | 688.13 bn US$ |
| Romania | 2007 | 19.05 M | 238,000 km² | 300.69 bn US$ |
| Slovakia | 2004 | 5.43 M | 49,000 km² | 115.46 bn US$ |
| Slovenia | 2004 | 2.11 M | 21,000 km² | 60.06 bn US$ |