The signing of CEFTA 2006 allowed for both the amendment of the original Central European Free Trade Agreement and for its membership to be substantially enlarged.
This latest CEFTA is a modern and comprehensive regional free trade agreement, designed as an integral part of the Parties’ pre-accession agenda and in line, where appropriate, with their commitments to the WTO. It provides a strong legal basis for policy formulation and implementation in key areas related to trade and investment.
The Agreement comprises a main text and a series of annexes. Since 2006, these have been supplemented by a series of additional protocols negotiated by the Parties in different areas.
The CEFTA Parties manage and advance implementation of the Agreement through Joint Committee decisions. These decisions must be taken by consensus.
To date, in line with Article 51, three of the original signatories, Bulgaria, Croatia and Romania have withdrawn from the agreement on their accession to the European Union.