From Balkanization to Regional Economic Integration Project: Cefta Agreement

The years of the 1990s for Balkan Regions were this era was remembered war, political unrest and collapse of Former Yugoslavia. This means despite of regional economic integration in rest of the World, this region had political unrest, the emergence of new states and economic problems. Between 2002 and 2006, before CEFTA Agreement signed, more than bilateral free trade agreements were signed between these countries. After signing CEFTA in 2006, these agreements that signed before replaced with this agreement. Both bilateral FTAs and after CEFTA agreement has a positive impact on trade volume between the countries in the regional. Although there are some obstacles regional economic integration, especially technical barriers, the countries in the region, have some advantages. Some of these are common language, common border, land areas, cultural similarity, geographical position and historical links. DOI: 10.5901/jesr.2014.v4n4p41