Serbia-China Free Trade Agreement active from July 1: 60% of goods to be immediately removed from customs list

Photo: Marko Jovanovic

The Serbian market of 6.5 million has been given a chance to compete in a market of 1.4 billion people, Minister of Internal and Foreign Trade Tomislav Momirovic said at the Chamber of Commerce of Serbia, during the presentation of the Free Trade Agreement between Serbia and China.

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The trade deal enters into force on July 1.

"It's not just an opportunity, it's much more than that. It's a vast space. I am asking you to seriously research this market, for your sake, for your companies' sake, and for your country's sake. We signed this agreement in order to gain an advantage," Momirovic told representatives of businesses.

As soon as July 1, 60 percent of products will be removed from the customs list, and in the next five to ten years another 30 percent, while the most sensitive products and goods will remain protected. These are agricultural products, which are of strategic importance for Serbia.

Up to 16,000 products will be available to the Chinese market from July 1, and as Mihailo Vesovic from the Serbian Chamber of Commerce said, these are fresh fruit and vegetables, pharmaceutical products, seats for the automotive industry, mechanical industry...

"In the Serbian Chamber of Commerce, we have started a cycle of presentations about free trade with China, and this is probably the most important economic news in the country this year," said the director of the Sector for Strategic Analysis, Services and Internationalization at the Serbian Chamber of Commerce, and added that the agreement, in the economic sense, will significantly raise and allow the strategic cooperation to benefit the Serbian economy.

(Telegraf Biznis)