Serbia about to sign a free trade agreement with China

This month, Serbia will sign the long-announced Free Trade Agreement with China.

The news that Serbia will finally sign the Free Trade Agreement with China this month (under the auspices of the Third Forum for International Cooperation of the Belt and Road initiative) was confirmed by the cabinet of the Prime Minister Ana Brnabić, who met with the newly elected Chinese ambassador to Serbia, Li Ming, on Tuesday.

“The signing of the Free Trade Agreement, during the upcoming visit of Serbian President Aleksandar Vučić to Beijing under the auspices of the Third Forum for International Cooperation of the Belt and Road initiative will significantly contribute to the intensification of bilateral economic cooperation,” said Brnabić, The Prime Minister also said that a significant number of bilateral agreements will be signed on the same occasion.

The agreement will abolish customs duties on 90 percent of Serbian products that we will export to China, Minister of Internal and External Trade, Tomislav Momirović, told Bloomberg Adria. He added that these are the standards of the World Trade Organization when trade agreements are signed.

In other news, American company Beam Global will enter the European market through a company from Kraljevo.

Kraljevo Amiga d.o.o., the Serbian company that produces infrastructure equipment, and the American company that creates green technology solutions, Beam Global, will sign a memorandum on strategic partnership on Friday.

As stated in the company’s press release, this will boost Amiga’s technical capabilities and capacity – both in terms of the production of patented technologies and in expanding their portfolio of innovative and sustainable electric vehicle charging products. The signing of that document will mark “a key moment in Beam Global’s entry into the European market,” the press release said.

(Bloomberg Adria, 05.10.2023)

This post is also available in: Italiano

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