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Givaudan
Serbia and Croatia last week that they would sign a trade pact for farm produce and food, in a move to connect the two economies after a decade of hostilities.
The pact will lift customs duties mainly on fruit, vegetables and various products and introduce low-duty quotas on grains, meat, wine, sugar, tobacco and dairy products. It is to be launched in Zagreb on 5 November.
"This is the first time that agriculture has led the way. We wish the free trade regime to be established as soon as possible. It could pave the way for future cooperation," Croatian Agriculture Minister Bozidar Pankretic said.
The agreement would come into effect after March 2003, he told a news conference after completing talks with his Serbian counterpart Dragan Veselinov.
Two-way trade in farm goods was around $27 million (€27.7m) in January to August this year, Pankretic said. The free trade pact could boost it to around $200 million. Croatia and Yugoslavia, together with Albania, Bosnia, Bulgaria, Macedonia and Romania, last year signed an agreement on liberalising trade under the auspices of a stability pact for southeast Europe.
The trade liberalisation must comply with World Trade Organisation (WTO) rules. The two countries hope more cooperation will help the region integrate with the European Union.