The Ministry of Economy and Regional Development stated today that as part of Central European Free Trade Agreement (CEFTA) Week 2010, the new CEFTA Trade Portal was presented, which contains all relevant and practical informat

A statement issued by the Ministry adds that the portal is designed as a central place to access all relevant information from all eight CEFTA members, and includes explanations for each stage of trade procedures and for relevant documents that are required for companies exporting or importing goods.

The language barriers have been overcome by providing information in all official languages, as well as in English.

Traders who import and export goods in each of the CEFTA member states have to abide by numerous rules and regulations concerning customs, licensing, sanitary, phytosanitary and veterinary control, technical regulations and standards and other requirements.

So far they needed weeks to get the necessary information, but as of now, owing to the new portal, they will be able to obtain information quickly, efficiently and in one place.

The portal will not only serve the private sector, but also the public administration in the CEFTA member states, all with the aim of getting acquainted with all the formal procedures, regulations and trade policies in the region and this will lead to an effective exchange of information among different institutions of CEFTA.

The joint estimate of the eight signatories of the CEFTA free trade agreement is that the portal will contribute to strengthening competition, promoting foreign investment, transparency of procedures and will particularly affect the removal of non-tariff barriers.

In addition, the CEFTA trade portal will reduce corporate costs and the time needed to collect this information.

The launching of the portal started over a year ago and was implemented under the project "Open regional funds for promotion of foreign trade in Southeast Europe", by the German Organisation for Technical Cooperation (GTZ).