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A:
Serbia about to sign free trade agreement with EFTA
Belgrade,
17 October 2009
State Secretary of the Ministry of Economy and Regional Development Vesna Arsic said that Serbia should sign a free trade agreement with the European Free Trade Association (EFTA) this year.
EFTA is an international organisation of Iceland, Norway, Switzerland and Liechtenstein, founded in 1960.
This agreement is important to Serbia, not only because in this way it will increase trade with EFTA members, but also because these countries are among the leading investors in Serbia.
She said that Norway is the third greatest investor in Serbia, with the mobile operator Telenor being by far the biggest investor. Switzerland is ranked 11th among the investors, Iceland made a significant investment in the privatisation of Zdravlje, which is now part of the Icelandic Actavis, while the investments of Liechtenstein are smaller in size.
Serbia currently exports €70 million to the countries of EFTA and imports around €180 million. As soon as it adopts the free trade agreement, Serbia will have free access to the market of EFTA countries for industrial products, which will enable bigger sales due to lower prices. EFTA member countries, for their part, will get liberalisation for industrial products on the Serbian market within five years.
Arsic added that Serbia has a regional CEFTA agreement on free trade with Russia, Turkey and Belarus and that it has free access to the EU market.
This agreement is important to Serbia, not only because in this way it will increase trade with EFTA members, but also because these countries are among the leading investors in Serbia.
She said that Norway is the third greatest investor in Serbia, with the mobile operator Telenor being by far the biggest investor. Switzerland is ranked 11th among the investors, Iceland made a significant investment in the privatisation of Zdravlje, which is now part of the Icelandic Actavis, while the investments of Liechtenstein are smaller in size.
Serbia currently exports €70 million to the countries of EFTA and imports around €180 million. As soon as it adopts the free trade agreement, Serbia will have free access to the market of EFTA countries for industrial products, which will enable bigger sales due to lower prices. EFTA member countries, for their part, will get liberalisation for industrial products on the Serbian market within five years.
Arsic added that Serbia has a regional CEFTA agreement on free trade with Russia, Turkey and Belarus and that it has free access to the EU market.
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