This book assesses the impact that the accession of Hungary, the Czech Republic, Poland and Slovakia into the EU will have on trade. Specifically the effects on imports caused by changes in domestic demand or in relative prices resulting from trade liberalisation and the removal of all trade barriers. It also looks at the effects that a change in competitiveness will have on exports. Finally it recommends fiscal, exchange rate and other policy measures, which must be adopted to reduce negative effects on the external stability of the economies.