The free trade agreement concluded between Serbia and the Eurasian Economic Union (EEU), with its member states Russia, Kazakhstan, Belarus, Armenia and the Kyrgyz Republic, will come into force on July 10, reminded Minister of Trade, Tourism and Telecommunications Tatjana Matic.
She noted that this agreement will provide access to a market of more than 180 million people with about 99% of goods intended for the EEU market being free of customs duties, adding that it is up to companies now to take advantage of these benefits.
The trade minister reminded that the new Agreement has maintained a high degree of trade liberalization, which is applied according to Serbia’s bilateral free trade agreements with the Russian Federation, Belarus and Kazakhstan.
Matic noted that this trade regime has been extended to two other countries, Armenia and the Kyrgyz Republic, as well as that Serbia has obtained further liberalisation for exports to the EEU.
“With this free trade agreement, Serbia has the extremely preferential export to the Russian market, which was one of the main objectives of the negotiations, as about 90 per cent of the total external trade between Serbia and the EEA countries relates to the Russian Federation,” she said.
Matic added that the agreement was not only useful for local companies doing business with those countries, but is also an incentive for the arrival of foreign investors, especially those oriented towards exporting to the EEA countries.
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