What is a dream for many more influential and stronger economies, is a reality for Serbia today, Minister of Agriculture Branislav Nedimovic told Tanjug, on the occasion of the decision of the Russian Government to approve the ratification of the free trade agreement between Serbia and the Eurasian Economic Union (EAEU).
Ratification of the agreement makes it possible for Serbian agricultural producers to export many products to a market of almost 200 million inhabitants without customs duties.
“Among them, I would definitely single out cheese and fruit brandy. A great chance for the food industry that we must use, especially today when everyone is closing because of coronavirus and when many countries are crying out for the opportunity to export their goods,” Nedimovic explains.
At the same time, he says, the state will continue to strengthen subsidies to our producers in order to have the best possible products for placement on foreign markets.
According to a statement on the official website, the Russian government has decided to approve the draft federal law “On Ratification of the Free Trade Agreement between the Eurasian Economic Union and its Member States, on the one hand, and the Republic of Serbia, on the other hand” and to forwarded for adoption to the State Duma in accordance with the established procedure.
Serbia signed an agreement on the establishment of a duty-free trade zone with the EAEU in October 2019.
The Treaty needs to be ratified by all EAEU member states.
The agreement will replace the existing bilateral agreements with Russia, Belarus and Kazakhstan and expand the free trade zone to Armenia and Kyrgyzstan.
In October last year, Prime Minister Ana Brnabic signed a Free Trade Agreement between Serbia and the Eurasian Economic Union and its member states – Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan.
By signing the agreement, Serbia has access to a market of 183 million people.
With the free trade agreement, Serbia will be able to export almost 100% of its products without paying customs duties.
Among other things, it is about the export of 2,000 tons of cigarettes, 400 tons of cow’s cheese, unlimited export of sheep and goat cheese, as well as fruit brandy, 90,000 liters of brandy, Dnevnik reports.
