Definition: European Union Accession Countries

European Union Accession Countries - "countries joining the European Union in 2004 including Poland, Hungary, Czech Republic, Slovakia, Estonia, Latvia, Lithuania, Slovenia (making the transition from communism to capitalism), Malta, and Cyprus. The prospect of membership, together with E.U. assistance, has encouraged these countries to undertake trade, capital account, legal, financial, enterprise, and other socioeconomic reforms." - source: Economic Development 4th Edition by E. Wayne Nafziger

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