The new text of the rules of origin of products brings great benefits to exporters because they avoid the possibility of different interpretations, which has slowed down sales so far.
The Russian government has approved the ratification of the free trade agreement between Serbia and the Eurasian Economic Union (EAEU). This means that the draft federal law “on the 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,” was approved. It will be forwarded to the State Duma for adoption in accordance with the established procedure. The Treaty needs to be ratified by all EAEU member states.
In October last year, Prime Minister Ana Brnabic signed the Free Trade Agreement between Serbia and the Eurasian Economic Union and its member states – Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan – in Moscow. 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 cheese, unlimited export of sheep and goat cheese, as well as fruit brandy, 90,000 liters of brandy…
On that occasion, the Minister of Agriculture, Branislav Nedimovic, stated for Tanjug that what is just a dream for many more influential and stronger economies, is a reality for Serbia today. 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.
– I would definitely single out cheese and fruit brandy among them. A great chance for the food industry that we must use, especially today when everyone is closing because of the corona virus and when many countries are crying out for the opportunity to export their goods – Nedimovic explains.
Of the quantitative quotas for goods, it is much more important that a new rule of direct purchase and a more precise text on the origin of goods have been agreed, because exporters will benefit much more from that. The Russians challenged our preferences if the invoices were from a third country, that is, if a third intermediary country appeared alongside the countries of the buyer and seller. And something like that is normal in the business of multinational companies and their subsidiaries.
By the way, the largest exporters to the Russian Federation for years are companies owned by foreign investors, which confirms that this was the motive for investing in Serbia. Our side has been trying to do that for ten years, and the Russians, they say, had a very tough stance. Therefore, stricter control of documentation will be introduced so that there would be no abuse.
Also, the new text of the rules on the origin of goods brings great benefits to exporters because they avoid the possibility of different interpretations, which has so far slowed down sales and directly affected the quantity of goods sold, Politika reports.
