Q:
A:
USA includes Serbia-Montenegro in Generalised System of Preferences
Belgrade,
30 June 2005
The Serbian government announced that US President George W. Bush signed last night a proclamation designating Serbia-Montenegro as a beneficiary developing country under the Generalised System of Preferences.
This measure revokes custom duties on over 4,000 domestically made articles, giving manufacturers free access to the US market.
This is recognition and support to the steady reform course of the Serbian government and a clear sign that overall bilateral relations with the US are steadily improving.
This is a great incentive for improving trade relations between Serbia-Montenegro and the US and an excellent opportunity for all local exporters. The US is currently one of the leading trade partners and the largest investor in Serbia.
This newly acquired status will help Serbia reduce its trade deficit with the US, and is an inducement to foreign investors, as they can place articles manufactured in Serbia on the US market duty-free.
Serbia-Montenegro has so far not been thus favoured in trade relations with the US. Five years after the democratic changes and numerous political obstacles, the present Serbian government has succeeded in fully renewing economic and political relations with one of its most important partners – the US.
This is recognition and support to the steady reform course of the Serbian government and a clear sign that overall bilateral relations with the US are steadily improving.
This is a great incentive for improving trade relations between Serbia-Montenegro and the US and an excellent opportunity for all local exporters. The US is currently one of the leading trade partners and the largest investor in Serbia.
This newly acquired status will help Serbia reduce its trade deficit with the US, and is an inducement to foreign investors, as they can place articles manufactured in Serbia on the US market duty-free.
Serbia-Montenegro has so far not been thus favoured in trade relations with the US. Five years after the democratic changes and numerous political obstacles, the present Serbian government has succeeded in fully renewing economic and political relations with one of its most important partners – the US.
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