Joint Statement of Intent

We the Ministers/vice-Ministers of Trade/Economy or their authorised representatives of Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Federal Republic of Yugoslavia (including Montenegro) ¹ , Macedonia and Romania, have met in Geneva on the 18th January 2001 within the context of the Stability Pact with the purpose of agreeing to actions that will enhance the progress of trade liberalisation and facilitation in the region. We met in the presence of the Special Co-ordinator of the Stability Pact, representatives of the Presidency of the European Union, the European Commission, the World Bank, the World Trade Organisation, the UNECE, Switzerland, the United Kingdom, the USA and other members of the Stability Pact Working Group on Trade Liberalisation and Facilitation ² .

We hereby reaffirm that the future prosperity and stability of the region will be directly influenced by the elimination of barriers and constraints to international and regional trade that will contribute to:

• a rapidly increasing volume of international trade;

• an improved capability of the region to attract capital, notably foreign direct investment;

• the integration of the region and the countries of the region into the global economy.

We recognise the importance of fostering the development of trade in the region. To this end, we welcome regional trade facilitation-related initiatives, in the framework of the Stability Pact, in areas of interest to our countries.

Our Governments will exert their best endeavours to prepare a Memorandum of Understanding, covering a series of specific actions to liberalise and facilitate trade. This Memorandum is to be agreed by the end of June, 2001.

In order to ensure progress in these undertakings, we will appoint senior trade policy officials from our countries to the Working Group on Trade Liberalisation and Facilitation of the Stability Pact Working Table II. We invite this Group to meet regularly before the end of June 2001 to prepare the Memorandum of Understanding on Trade Liberalisation and Facilitation and subsequently to review progress on its implementation. The Working Group should also prepare additional measures that may be necessary to further liberalise and facilitate trade

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1 This does not affect in any way the current status of Montenegro, as it was agreed , as a special entity within the Stability Pact and as a beneficiary of its activities.