The European Commission has raised the quotas for Serbia’s exports of various types of steel to the EU, the Serbian Chamber of Commerce announced on Wednesday.
With a new decree, the European Commission is re-allocating steel import quotas that have so far been intended for Russia and Belarus.
“We believe our steel companies, which are already major exporters, will utilise this change in EU regulations,” said the assistant director of the Chamber’s Strategic Analyses, Services and Internationalisation Sector, Bojan Stanić.
Serbia’s steel industry has been limited for several years by the EU’s steel import quotas, despite a free trade agreement with the EU, he added.
The biggest steel manufacturing plant in Serbia, with headquarters in Belgrade and the main plant in nearby Smederevo, has been owned by the Chinese international HBIS GROUP Corporation since 2016.
Until 2012, the Smederevo plant was a part of the American steel company US Steel.
According to Serbia’s finance ministry, the exports of HBIS Serbia in 2021 were worth more than €750 million.
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