What are the objectives of CEFTA?

The objectives of the Central European Free Trade Agreement (CEFTA) are as follows:

1. Promote economic integration: CEFTA aims to enhance economic cooperation and integration among its member countries. It seeks to create a common market by eliminating barriers to trade and investment, facilitating the movement of goods, services, and capital, and promoting a harmonized business environment.

2. Expand market access: CEFTA aims to increase market access for its member countries by reducing or eliminating tariffs, quotas, and other trade barriers. This allows for the free flow of goods and services within the region, promoting trade and economic growth.

3. Foster regional cooperation: CEFTA seeks to foster regional cooperation and strengthen political and economic ties among its member countries. It provides a platform for dialogue and cooperation on various economic issues, including trade facilitation, customs procedures, and intellectual property rights.

4. Attract foreign investment: CEFTA aims to attract foreign direct investment (FDI) by creating a more attractive and predictable business environment within the region. By harmonizing regulations and standards, CEFTA helps to reduce the costs and risks associated with cross-border investment, encouraging both domestic and foreign companies to invest in member countries.

5. Enhance competitiveness: CEFTA aims to enhance the competitiveness of its member countries' economies by promoting economic reforms, improving infrastructure, and fostering innovation and technological development. This helps member countries to better compete in the global market and attract investment and trade opportunities.

6. Promote sustainable development: CEFTA recognizes the importance of sustainable development and aims to promote environmentally friendly and socially responsible economic practices. It encourages member countries to adopt and implement policies that support sustainable growth, protect the environment, and promote social welfare.

Overall, the objectives of CEFTA are to promote economic integration, expand market access, foster regional cooperation, attract foreign investment, enhance competitiveness, and promote sustainable development among its member countries.