Content area
Abstract
The importance of the European Association Agreements, signed between the EC and the economies in transition of Central Europe (CEE-5) in 1991 and 1992, has been underscored by the rapidly shifting trade patterns of these countries toward OECD markets and the emergence of the EC as their major trading partner. The Agreements establish a new framework for their mutual economic relationship, including the transition to a free trade regime for industrial products. A study examines the significance of the trade concessions granted by the EC to the CEE-5 countries by analyzing the incidence of EC trade barriers on imports from the CEE-5 before and after the implementation of the European Agreements and identifying trade flows of groups of industrial products subject to different concessions. The study focuses on trade liberalizing measures for industrial products for which a free trade regime should be in place no later than 5 years after the Agreements enter into force.