The EU decided on Friday to extend trade preferences for the Western Balkans until the end of 2015.

The economies of the Western Balkans will continue to benefit from unlimited duty-free access to the EU market for almost all products originating from these states and territories, as was first on decided on January 1, 2011, the EU said in a statement.

The measure will benefit of Albania, Bosnia, Croatia, Macedonia, Montenegro, Serbia and Kosovo.

The trade advantages had expired on 31 December 2010, but the EU later decided to extend them for another four years. Exporters will be able to claim compensation for duties paid in 2011.

The "exceptional autonomous trade preferences" come on top of a Stabilisation and Association Agreement (SAA) between the EU and Balkan nations that only gives preferential tariffs to wine, sugar and certain beef and fish products.

"These trade preferences support economic integration with the EU and hence foster political stability and economic progress in the entire region," the European Commission said in a statement.

The special trade preferences are particularly advantageous to Kosovo since it has not signed an SAA with the EU. Kosovo declared independence from Serbia in 2008 but Belgrade refuses to recognise it.