Four more free trade agreements were signed in Rome at a Stability Pact / EU-Presidency meeting 13 November.  In a joint statement, adopted by Ministers from eight South Eastern European, countries committed themselves to additional steps to further trade liberalisation in the region, including tackling non-tariff barriers, ensuring greater harmonisation standards and looking at options for improved co-operation on trade in services.  Ministers also instructed the Pact’s Trade Working Group to continue to monitor and facilitate progress and to develop recommendations for even deeper integration.  At the Thessaloniki EU-Western Balkans Summit 21 June 2003, the perspective of EU membership was reinvigorated for five Southeast European Countries, called the Western Balkans.  The summit noted the importance of the establishment of free trade throughout the region.  A Stability Pact initiative to this end has been underway since 2001, involving eight countries, including the five Western Balkans.  Albania, Bosnia-Herzegovina, Bulgaria, Croatia, FYR of Macedonia, Romania and Serbia-Montenegro committed themselves in June 2001 to create a network of consistent bilateral free trade agreements and Moldova associated itself to the process with a somewhat extended timeline.  Following the completion of negotiations in February 2002, the vast majority of agreements are already in force (20 out of 21 agreements signed, 16 are in force, remainder expected to be in force by January 2004).  Special Co-ordinator Busek pointed out, that the emerging free trade area in the region was the countries most convincing argument for attracting foreign investment, as it increases market size considerably, from comparatively small markets of a few million to a regional market of 55 million consumers.  Italian Foreign Minister Frattini and Trade Minister Urso underlined the importance of underpinning the Western Balkans Stabilisation and Association Process and the Accession Process with a free trade dimension.  EU Commissioner Lamy emphasised the complementarity of improved intra-regional free trade with the preferential trade arrangements the countries already enjoy with the EU.

Attached:     — Table of Free Trade Agreements between SEE Countries
                   —  Ministerial Statement, Rome 13 November 2003