Serbia’s agreement with the EAEU gives companies new markets and modernization of operations

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The agreement between Serbia and the Eurasian Economic Union (EAEU), whose implementation begins on Saturday, July 10, enables greater placement of domestic products on the market of 183 million consumers, encourages new domestic and foreign investments, especially in the agri-food industry, as well as transport and logistics, companies from the rubber, metal, textile and construction industries, and the ICT sector, it was announced yesterday.
The agreement allows 2,000 tons of cigarettes, about 90,000 liters of brandy, 400 tons of semi-hard and hard cow’s cheese, and unlimited quantities of goat’s and sheep’s cheese and fruit brandies to be exported to the EAEU countries.
Jelena Ivankovic from the Center for Asia, the Russian Federation and the Commonwealth of Independent States of PKS, says that this is a very important and long-awaited agreement that enables our companies greater exports, modernization and technological development.
“We expect an increase in exports, modernization, greater and more intensive harmonization with standards that are very strict, and that will lead to an increase in the quality of our production,” said Ivankovic.
Jagoda Lazarevic, State Secretary at the Ministry of Trade, Tourism and Telecommunications, states that Serbia has been exporting a wide range of goods to the EAEU, mostly agricultural and food products, for years. According to her, as much as 60 percent of the total domestic cheese production is placed in Russia.
In the structure of exchange between Serbia and the EAEU, the Russian Federation is the most important trade partner of our country with a share of 93 percent in Serbia’s exports to the EAEU market, and about 90 percent of imports from this market.
Alexander Lesin, Deputy Trade Representative of the Russian Federation in RS, points out that the interest of Russian companies in exporting to Serbia has increased in recent months.
“This agreement enables Serbia access to new markets and enables the placement of goods on the market of almost 200 million inhabitants, and for Russian export companies it enables the expansion of the range of goods for export to the Serbian market,” Lesin explains.
Jovan Krivokapic, corporate affairs manager of Japan Tobacco International from Senta, says that the beginning of the implementation of the Agreement is important for small companies and large international companies because it enables more favorable import of raw materials, but also the placement of our finished products, Danas reports.