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Ratification of CEFTA before September important for Serbia
Belgrade,
8 August 2007
Head of the Department for Multilateral and Regional Trade Cooperation at the Ministry of Economy and Regional Development Snezana Zubic-Petrovic stated today that it is of great importance for Serbia to ratify the CEFTA Agreement before September in order to get integrated in the region and, indirectly, the EU.
In a statement to the Tanjug news agency, Zubic-Petrovic stressed that the first meeting of CEFTA signatories will be held in Macedonia in September, adding that countries which do not ratify the agreement by then will take part in the meeting only as observers, and not full members.
She explained that it was envisaged that the CEFTA agreement should come into force as soon as it is ratified by at least five countries, which has been done as all countries, except Bosnia Herzegovina and Serbia, have ratified it.
Zubic-Petrovic said that 32% of Serbia’s total export and 12% of the total import comprises trade exchange with CEFTA signatories and Serbia is the only country in the Southeastern Europe with a trade surplus.
She also pointed out that Serbia has abolished customs duties on all products traded with Bosnia and Herzegovina and Macedonia, whereas almost all custom duties have been abolished for the trade with Moldova except customs quotas on eight items.
Customs on industrial products in the trade with Croatia and Albania were abolished early in the year and new concessions will be considered for agricultural products until May 1, 2009, said Zubic-Petrovic.
She explained that participation in the CEFTA Agreement facilitates foreign investments in the country through the harmonisation of regulations with EU legislation, and the best proof for that is the fact that all previous CEFTA members have already entered the EU as well.
She explained that it was envisaged that the CEFTA agreement should come into force as soon as it is ratified by at least five countries, which has been done as all countries, except Bosnia Herzegovina and Serbia, have ratified it.
Zubic-Petrovic said that 32% of Serbia’s total export and 12% of the total import comprises trade exchange with CEFTA signatories and Serbia is the only country in the Southeastern Europe with a trade surplus.
She also pointed out that Serbia has abolished customs duties on all products traded with Bosnia and Herzegovina and Macedonia, whereas almost all custom duties have been abolished for the trade with Moldova except customs quotas on eight items.
Customs on industrial products in the trade with Croatia and Albania were abolished early in the year and new concessions will be considered for agricultural products until May 1, 2009, said Zubic-Petrovic.
She explained that participation in the CEFTA Agreement facilitates foreign investments in the country through the harmonisation of regulations with EU legislation, and the best proof for that is the fact that all previous CEFTA members have already entered the EU as well.
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