Brussels, 19/12/2006 (Agence Europe) - With the signing, on Tuesday, of a new Central European Free Trade Agreement (CEFTA), Albania, Bosnia-Herzegovina, Moldova, Montenegro, Serbia and the province of Kosovo joined the Central European free trade bloc already formed by Croatia, Macedonia, Bulgaria and Romania, although the last two will leave when they join the EU on 1 January 2007. Commissioners Olli Rehn (enlargement) and Peter Mandelson (trade) immediately welcomed the signing of this agreement, which aims to replace no fewer than 32 bilateral agreements prevailing in South East Europe. “The CEFTA complements the EU's Stabilisation and Association Agreements for the countries of the Western Balkans. It makes an important contribution to economic development and regional cooperation. For the candidate and potential candidate countries, CEFTA is a stepping stone towards the closer economic cooperation that is an inevitable part of membership of the European Union”, Rehn comments in a press release. Peter Mandelson pointed out: “CEFTA will replace the spaghetti bowl of regional FTAs in South Eastern Europe with a single agreement that will boost trade and attract investment. The expanded CEFTA will offer real economic benefits to all sides. But it also sends an important political signal. Closer trade relations in South Eastern Europe are a foundation for stability and growing prosperity”. (eh)