Transition economy to the IMF, Iran is in transition to a market economy, demonstrating early stages of a transition economy. The eight first-wave accession countries, which joined the European Union on 1 May 2004 (Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, Slovenia) and the two second-wave accession countries that joined on 1 January 2007 (Romania and Bulgaria) have completed the transition process. According to the World Bank, "the transition is over" for the 10 countries that joined the EU in 2004 and 2007. It can be also understood as all countries of the Eastern Bloc. "Transition economics" is a special branch
Lebanon–European Union relations Lebanon–European Union relations Lebanon–European Union relations sees substantial ties through the EU's European Neighborhood Policy (ENP). The EU is the largest trading partner of Lebanon. Lebanon concluded negotiations on an association agreement with the European Union in late 2001, and both sides initialed the accord in January 2002, the accord becoming known as the EU-Lebanon Association Agreement. The EU-Lebanon Action Plan from 19 January 2007 gave a new impetus to bilateral relations in the framework of the ENP. Lebanon is one of the main Mediterranean beneficiaries of community assistance and the EU through its various instruments is Lebanon’s leading donor.