Minister of Domestic and Foreign Trade Tomislav Momirović pointed out that the Free Trade Agreement between the People's Republic of China and Serbia, which entered into force today, will have a broad impact on the entire economy our country.
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Free Trade Agreement between Serbia, People's Republic of China enters into force
Novi Sad,
1 July 2024
During the presentation of this agreement to businessmen in Novi Sad, Momirović explained that with preferential access to products of Serbian origin, we will significantly improve the export opportunities and competitiveness of companies from Serbia, which will contribute to the expansion of investment and production capacities in our country.
He reminded that on the first day of the entry into force of the agreement, 60% of goods will be exempted from customs duties, and in the next 5 to 15 years, an additional exemption of customs duties is expected for 30% of goods, while the most sensitive industrial and agricultural products will continue to be protected.
The agreement will significantly contribute to increasing the income of farmers, encouraging the development of rural areas and further improving our agricultural sector, Momirović said, expressing the belief that we will use all the potential provided by preferential access to the huge Chinese market.
Author:
MUST
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