An agreement that will provide Serbia with a market of 180 million people, News
The free trade agreement between Serbia and the EAEU, its member states Russia, Kazakhstan, Belarus, Armenia and the Kyrgyz Republic will enter into force on July 10, the Minister of Trade, Tourism and Telecommunications, Tatjana Matic, reminded of that.
“As this is the most important free trade agreement concluded by the Republic of Serbia in the previous period, especially due to the fact that it means expanding the list of goods exported without customs duties, as well as the accession of two more countries, its implementation will significantly increase exports. Serbian goods on the EAEU market, and thus contribute to further strengthening the export potential of Serbia as well as the overall economic development,” said Minister Matic.
She mentioned that this agreement will enable access to the market of over 180 million people for about 99 percent of goods from the Customs Tariff without paying customs duties, and added that it is up to businessmen to use those benefits.
The Minister of Trade reminded that the new Agreement maintained a high degree of trade liberalization, which is applied according to the valid bilateral agreements on free trade of Serbia with the Russian Federation, Belarus and Kazakhstan.
Matic emphasized that such a trade regime has been extended to two more countries – Armenia and the Kyrgyz Republic, as well as that Serbia has achieved additional liberalization for exports to the EAEU.
“With the free trade agreement, Serbia retains the extremely preferential export it has to the Russian market, which was one of the main goals of the negotiations, since about 90 percent of the total trade exchange between Serbia and the EAEU countries refers to the Russian Federation,” said Minister Matic.
She pointed out that the Agreement is not only useful for our businessmen and exporters who do business with the EAEU countries, but it is also an incentive for the arrival of foreign investors, especially those export-oriented from production activities, B92 reports.