Romania and Bulgaria will be invited to join the European Union on 1 January 2007 based on the recommendation of the European Commission made yesterday to the European Parliament in Strasbourg. With the accession of Romania and Bulgaria, the European Union will complete its fifth wave of enlargement.
According to the European Commission's report, both Romania and Bulgaria have achieved important progress, demonstrating the two countries are able to comply with the rights and obligations of EU legislation. However, there will be strict conditions to be complied with during the accession process. Further, there are areas where future improvements will need to be made both before and after the accession.
As a result, the implementation of significant EU legislative changes is anticipated to continue. These changes will have a material impact on businesses operating in Romania and Bulgaria prior to and following the entry into the EU.
To help you understand the impact on your sector, shortly we will be launching new EU Accession zones on Law-Now. The zones will outline the changes to competition, employment, environmental, financial, pharmaceuticals and property rules in both Romania and Bulgaria. We will send you details of the new zones soon.
