Through CEFTA, participating countries hoped to mobilize efforts to integrate democracy and European Union membership, and all CEFTA countries have applied to join the EU (Poland, the Czech Republic, Hungary, Slovakia, Slovenia have joined the EU in May 1, 2004, Bulgaria and Romania are scheduled to do so on January 1, 2007, Croatia does not yet have a date specified). At the EU's recommendation, the future members prepared for membership by establishing free trade areas. A large proportion of CEFTA foreign trade is with EU countries.
The Central European Free Trade Agreement (CEFTA) is a trade agreement between Poland, the Czech Republic, Slovakia, Hungary, Slovenia, Romania, and Bulgaria.
CEFTA was established by Poland, Hungary and former Czechoslovakia on 21 December, 1992 in Krakow, Poland.
Through CEFTA, participating countries hoped to mobilize efforts to integrate Western European institutions and through this, to join European political, economic, security and legal systems, thereby consolidating democracy and free-market economics.
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