The Agreement on Establishing the Center of Excellence in Finance as an international organization has been signed in Bled, Slovenia. President of the Republic of Slovenia, Mr. Borut Pahor addressed ministers signing the agreement and other distinguished guests. The changing of the status is "an important further step in Slovenia's support of regional cooperation in SE Europe," Mr. Pahor said, noting that it was strong political commitment from the governments of the signatory countries that helped steer the way to CEF becoming an international organization.
Mr. Petar Pandushev Chobanov, Minister of Finance of the Republic of Bulgaria, Mr. Branko Grčić, Deputy Prime Minister and Minister of Regional Development and EU Funds of the Republic of Croatia, Mr. Zoran Stavreski, Vice Prime Minister and Minister of Finance of the Republic of Macedonia, Mr. Nikola Vukičević, Deputy Minister of Finance of Montenegro, and Mr. Karel Erjavec, Deputy Prime Minister and Minister of Foreign Affairs of the Republic of Slovenia signed the Agreement on Establishing the Center of Excellence in Finance as an international organization. Moldova and Bosnia and Herzegovina will join the agreement with the exchange of letters and other countries may be able to join at a later stage.
Signing of the Agreement was the first step on the road towards becoming an international organization. In the next phase interested member countries will be invited to ratify the signed Agreement. It will enter into force after at least three countries deposit instruments of ratification. The Agreement with the Government of Slovenia (Headquarters Agreement) will define the conditions under which Slovenia will host and finance the CEF. In addition the Rules and Regulations for the CEF as an international organization will be drafted. It is expected that the procedure will conclude in 2014 with first session of the Governing Board where the CEF’s Rules and Regulations will have to be approved.