Tomislav Momirović, Serbia’s Minister of Internal and Foreign Trade, announced that he will soon travel to South Korea to initiate negotiations for a free trade agreement.
“Korea has transformed from a once-poor nation to one of the most developed economies in the world, often referred to as an Asian tiger,” Momirović stated during an appearance on TV K1. He highlighted that South Korea is now among the top 20 developed countries globally and is entering the fifth industrial revolution.
He emphasized South Korea’s advancements, noting, “They produce the most modern cars, tablets, and have a thriving IT industry.” Momirović articulated Serbia’s goal of signing a free trade agreement with South Korea to boost exports and imports, enhance investments, and ultimately increase wages and access to high technology.
When asked about the potential for a “Best Price” initiative in January 2025, he mentioned that the relevant ministry would monitor pricing trends but refrained from making any promises regarding its recurrence. “While it’s easy to say prices could go lower, making such statements at this time would be irresponsible,” he said.
Momirović also pointed out that salaries in Serbia are significantly higher than those in all CEFTA countries. “Our wages surpass those in the region, but our aim isn’t just to compete with our immediate neighbors; we aspire to reach the levels of Croatia and Hungary,” he concluded.
