Never Too Late to Get Together Again : Turning the Czech and Slovak Customs Union into a Stepping Stone to EU Integration
The Czech and Slovak Customs Union (CSCU), which came into effect in January 1993, differs from regular regional trading arrangements as its goal was to minimize the economic cost of a decline in economic ties between its members rather than to set...
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| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2003/01/2126590/never-too-late-together-again-turning-czech-slovak-customs-union-stepping-stone-eu-integration http://hdl.handle.net/10986/19185 |
| Summary: | The Czech and Slovak Customs Union
(CSCU), which came into effect in January 1993, differs from
regular regional trading arrangements as its goal was to
minimize the economic cost of a decline in economic ties
between its members rather than to set in motion the
mechanism of integration. The creation of the CSCU ensured a
smooth and conflict-free break up of Czechoslovakia and
resulted in divergence in regulatory regimes of the two
republics. This study argues that the process of mutual
adjustment triggered by the emergence of national borders is
over and that integration within the CSCU, similar in depth
and scope to that existing within the European Union (EU),
would be a desirable policy objective. By deepening
integration, both the Czech and Slovak Republics would be
better prepared to handle challenges associated with the EU
accession. Such a regulatory realignment would also lower
border costs and behind-the-border barriers to trade and
result in a more attractive investment environment in both countries. |
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