Central European Free Trade Agreement: Did the Initiative Prove its Commitments?
Central European Free Trade Agreement: Did the Initiative Prove its Commitments?

Summary/Abstract: CEFTA 2006 is an important cooperation platform providing the Western Balkan countries and the Republic of Moldova with the opportunity to share experience and build functional economic relations. It aims to improve the economic development of the states through assuring a favourable environment for trade and investments. Moreover, CEFTA is viewed as a preparatory instrument for the future European integration of the states. It has been 10 years since the formation of CEFTA. Over this period, numerous economists, politicians and researchers debated on whether the initiative proved its commitments and what the impact of CEFTA on regional economic development, and in particular, on regional trade and investments is. Therefore, to reach relevant conclusions about the researched subject, the present paper is focused on quantitative data analysis involving descriptive and econometric methods.

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