Q:
A:
Serbia, Japan sign protocol on concluding negotiations about WTO accession
Belgrade,
16 March 2010
Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic and Counsellor of the Japanese Embassy to Serbia Teruhiko Shinada signed a bilateral protocol on the conclusion of negotiations with Japan regarding Serbia’s accession to the World Trade Organisation (WTO).
Author:
Fonet
He recalled that the negotiations are still ongoing with the United States, Norway, Canada, Korea and Ecuador, and added that their completion is expected soon.
The Minister recalled that it took Croatia, Ukraine and China approximately seven years of negotiations to enter the WTO.
Dinkic said that Serbia will have multiple benefits from WTO membership, because it involves trade liberalisation, which will allow easier access to the markets of member states and create foreseeable economic conditions for investors who come to our country.
This will increase Serbia's credit rating which will mean the arrival of more foreign investors, he said and recalled that membership of the WTO is a prerequisite for membership of the EU.
Dinkic stressed that even more Japanese investment can now be expected, which has been relatively small considering Japan’s economic prowess.
Shinada said he is pleased that Japan is the first WTO member with which Serbia has signed the protocol, noting that Serbia’s WTO accession is in Japan’s interest since his country is advocating further strengthening of free trade in the world and strengthening of the WTO itself.
He said that the conclusion of the talks can help to improve economic relations between Serbia and Japan.
The number of Japanese businessmen interested in Serbia is increasing, but there are still not enough Japanese investors, therefore Serbia should take advantage of this opportunity and attract new investment from Japan, Shinaida concluded.
Following the signing Dinkic said there are realistic chances for Serbia to become a WTO member next year, because by the middle of 2010 it will have fully harmonised its legislature with WTO regulations and by the end of the year have held other bilateral talks as well.
Japan is the first member of the WTO with whom Serbia has signed the bilateral protocol on the conclusion of negotiations regarding the liberalisation of goods and services markets.
Serbia started the process of WTO accession in 2005.
The Minister recalled that it took Croatia, Ukraine and China approximately seven years of negotiations to enter the WTO.
Dinkic said that Serbia will have multiple benefits from WTO membership, because it involves trade liberalisation, which will allow easier access to the markets of member states and create foreseeable economic conditions for investors who come to our country.
This will increase Serbia's credit rating which will mean the arrival of more foreign investors, he said and recalled that membership of the WTO is a prerequisite for membership of the EU.
Dinkic stressed that even more Japanese investment can now be expected, which has been relatively small considering Japan’s economic prowess.
Shinada said he is pleased that Japan is the first WTO member with which Serbia has signed the protocol, noting that Serbia’s WTO accession is in Japan’s interest since his country is advocating further strengthening of free trade in the world and strengthening of the WTO itself.
He said that the conclusion of the talks can help to improve economic relations between Serbia and Japan.
The number of Japanese businessmen interested in Serbia is increasing, but there are still not enough Japanese investors, therefore Serbia should take advantage of this opportunity and attract new investment from Japan, Shinaida concluded.
Following the signing Dinkic said there are realistic chances for Serbia to become a WTO member next year, because by the middle of 2010 it will have fully harmonised its legislature with WTO regulations and by the end of the year have held other bilateral talks as well.
Japan is the first member of the WTO with whom Serbia has signed the bilateral protocol on the conclusion of negotiations regarding the liberalisation of goods and services markets.
Serbia started the process of WTO accession in 2005.
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