EC/Estonia agreement: agreement on trade and trade-related matters

OBJECTIVE: to conclude an agreement on free trade and trade-related matters with Estonia. COMMUNITY MEASURE: Council Decision 974/94/EC aimed at concluding an agreement on free trade and trade-related matters with Estonia. SUBSTANCE: Through this decision, the Community is concluding an agreement between the European Communities and Estonia on the liberalisation of trade and the establishment of accompanying measures. This agreement amends the 1992 agreement on trade and economic and commercial cooperation. The liberalisation agreement includes the following elements: - a clause on human rights and encouragement for regional cooperation between Baltic countries; - the creation of a free trade area for industrial products: the European Union abolishes all customs duties on imports and exports as well as quantitative restrictions from the date of the entry into force of the decision. In return, Estonia, which applies scarcely any trade restrictions, ensures reciprocity from the entry into force of the agreement; - trade in textile products is governed by specific provisions. With regard to tariffs, Estonia will benefit from zero duty on all textile products. The quantitative aspects are governed by protocols annexed to the decision; - the concessions granted by both parties for sensitive products, such as agricultural products, processed agricultural products and fisheries products, are dealt with in separate annexes and protocols; - the rules of origin and provisions concerning customs cooperation are brought together in separate protocols; - the joint committee established by the 1992 agreement on trade and economic and commercial cooperation is responsible for administering this agreement. ENTRY INTO FORCE: 1 January 1995, as long as all the necessary notification procedures have been completed on time by each of the parties. If not, the agreement will enter into force on the first day of the month following the approval of all the parties concerned. �