The WTO report, along with a policy
statement by the Government, will be the basis for the Trade Policy
Review (TPR) by the Trade Policy Review Body of the WTO.
High real GDP growth, relatively low
inflation, and a declining fiscal deficit are some of the fruits of the
programme, the report says. Nonetheless, there was a big contraction in economic
activity in 2009 due to the global economic downturn, and Croatia still faces
key problems, notably external vulnerability due to its high external current
account deficit and large stock of external debt.
The report also indicates that important reforms have taken place in the trade
and investment area since Croatia acceded to the WTO in 2000, including updating
almost all its trade-related legislation with the objective of bringing it into
line with the EU's trade policy and internal market rules, and reducing its
simple average MFN tariff from 12.1% in 2000 to 7.1% in 2009.
The report makes clear, nevertheless, that continuation of its structural
reforms, such as further improving its business environment, will be key to
strengthening Croatia's resilience to shocks, sustaining growth, attracting
investment, and improving productivity.
The report, along with a policy statement by the Government of Croatia, was the
basis for the first Trade Policy Review (TPR) of Croatia by the Trade Policy
Review Body of the WTO on 24 and 26 March 2010.
The following documents are available in MS Word format.
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Trade Policy Reviews are an exercise, mandated in the WTO agreements,
in which member countries’ trade and related policies are examined and
evaluated at regular intervals. Significant developments that may have
an impact on the global trading system are also monitored. For each
review, two documents are prepared: a policy statement by the
government of the member under review, and a detailed report written
independently by the WTO Secretariat. These two documents are then
discussed by the WTO’s full membership in the Trade Policy Review Body
(TPRB). These documents and the proceedings of the TPRB’s meetings are
published shortly afterwards.
copies of previous TPR publications are available for sale from the
WTO Secretariat, Centre William Rappard, 154 rue de Lausanne, 1211
Genève 21 and through the
TPR publications are also available from our co-publisher Bernan Press, 4611-F Assembly Drive, Lanham, MD 20706-4391, United States.
Schedule of forthcoming reviews
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Armenia: 6 and 8 April 2010
Albania: 28 and 30 April 2010
China: 10 and 12 May 2010
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