Free Trade Agreements Serbia

Internally, the Serbian market is the second largest in south-eastern Europe, with 7.5 million people. The average net monthly salary increased from just 194 euros in 2004 to 380 euros in 2013. Combined with the rapid expansion of consumer credit, this has led to a sharp increase in local demand, which has resulted in a double-digit increase in retail sales on an annual basis. “Trade with Russia accounts for less than 10% of Serbia`s total trade. In addition, European investment in Serbia is more than 10 times higher than russia`s,” the EU spokeswoman added. The agreement also provides tariff concessions for processed agricultural products (Protocol A). Trade in agricultural commodities is covered by three bilateral agricultural agreements between the STATE of EFTA (Iceland, Norway and Switzerland) and Serbia. These agreements provide for substantial concessions on both sides, taking into account the respective sensitivities of the parties. Imports from the EU are duty-free for most products. Some export restrictions apply only to exports of baby beef, sugar and wine in the form of annual export quotas. “This means that the agreements we have concluded so far with Russia, Belarus and Kazakhstan must be replaced by a new, more modern agreement, which has just been signed by Serbia with the entire EAEU, which includes, in addition to these three countries, Armenia and Kyrgyzstan,” Ljajic added. Serbian Prime Minister Ana Brnabic signed a free trade agreement with the Russian-led Eurasian Economic Union (EAEU) in Moscow on Friday after the EU warned it would closely monitor relations, with Serbia a candidate for EU membership. “Serbia must ensure the compatibility of all its trade agreements, investments and economic cooperation and other relevant agreements with EU ownership,” McAllister told Radio Europe Liberty, CSR.

Trade with the United States is conducted under the Generalized Preferences System (GSP). U.S. trade advantages provide preferential duty-free entry for approximately 4,650 products, including most of the finished and semi-finished products, as well as certain agricultural and primary industrial products. Some sensitive products (for example. B most textile products, leather goods and footwear) cannot be exported duty-free. The list of eligible products is reviewed and adjusted twice a year, using inputs from the U.S. industry. The upper house of the Russian Parliament on Tuesday ratified a free trade agreement between the Eurasian Economic Union (EAEU) and Serbia. The agreements contain economic benefits for EU countries and Serbia, both in the immediate future, on the basis of immediate savings on current export tariffs, and in the medium term, in terms of the implementation of export opportunities linked to the extension of the free trade regime.

Thus, agreements with Serbian partners set out a number of commitments in order to comply with international standards for the application of authorisation procedures; prohibitions and quantitative restrictions; technical rules and sanitary and plant health measures; Charges related to customs formalities “at the border” and the application of anti-dumping, compensatory and special protection measures as well as the protection of intellectual property rights.