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Almost 99% of trade with Russia liberalised
Belgrade,
22 July 2011
Minister of Economy and Regional Development Nebojsa Ciric and trade representative of Russia in Serbia Yevgeny Kudinov signed today the Protocol between the governments of two countries on exceptions from free trade regime and rules on determining the country of origin of goods.
The Protocol was signed with the Free Trade Agreement from 2000 and with this document almost 99% of the trade with Russia has been liberalised.
Customs duties will be paid only for a small number of products that are exported from Serbia, and these are meat and edible waste from poultry, certain kinds of cheese, sugar, sparkling wine, undenatured ethyl alcohol, tobacco, cotton yarn, cotton fabrics, some kinds of compressors, tractors, passenger cars and used motor vehicles.
In relation to the existing lists of exemptions that apply when exporting from Serbia in the territory of Russia, further liberalisation of trade will be made for all carpets and floor coverings, furniture, cash registers, monitors and projectors, television sets, starch and glucose syrup.
After the signing of this document, the same rules on the origin of goods will apply in the trade between Serbia and member states of the Customs Union.
Also, the possibility of applying diagonal cumulation of origin of goods was introduced, where Serbia, Kazakhstan, Russia and Belarus were determined as foreign participants in the cumulation of origin of goods.
Trade between Serbia and Russia is on a constant rise.
In 2010 total trade amounted to $2,691.9 million, while exports from Serbia amounted to $534.7 (up by 53% in relation to the previous year) and imports from Russia $2,157.2 million (up by 9.5% in relation to the previous year).
In the first five months of this year, the total trade amounted to $1,356.8 million, up by 40.2% against the same period last year.
Serbian exports totalled $280 million (an increase of 64.3% against the same period last year) and imports from Russia $1,076.8 million (up by 35.1% against the same period in 2010).
The signing of this document ended the process of harmonisation of trade between Serbia and the Customs Union of Russia, Belarus and Kazakhstan, which provides great opportunities for increasing the competitiveness of our economy, increasing exports and promoting trade.
Customs duties will be paid only for a small number of products that are exported from Serbia, and these are meat and edible waste from poultry, certain kinds of cheese, sugar, sparkling wine, undenatured ethyl alcohol, tobacco, cotton yarn, cotton fabrics, some kinds of compressors, tractors, passenger cars and used motor vehicles.
In relation to the existing lists of exemptions that apply when exporting from Serbia in the territory of Russia, further liberalisation of trade will be made for all carpets and floor coverings, furniture, cash registers, monitors and projectors, television sets, starch and glucose syrup.
After the signing of this document, the same rules on the origin of goods will apply in the trade between Serbia and member states of the Customs Union.
Also, the possibility of applying diagonal cumulation of origin of goods was introduced, where Serbia, Kazakhstan, Russia and Belarus were determined as foreign participants in the cumulation of origin of goods.
Trade between Serbia and Russia is on a constant rise.
In 2010 total trade amounted to $2,691.9 million, while exports from Serbia amounted to $534.7 (up by 53% in relation to the previous year) and imports from Russia $2,157.2 million (up by 9.5% in relation to the previous year).
In the first five months of this year, the total trade amounted to $1,356.8 million, up by 40.2% against the same period last year.
Serbian exports totalled $280 million (an increase of 64.3% against the same period last year) and imports from Russia $1,076.8 million (up by 35.1% against the same period in 2010).
The signing of this document ended the process of harmonisation of trade between Serbia and the Customs Union of Russia, Belarus and Kazakhstan, which provides great opportunities for increasing the competitiveness of our economy, increasing exports and promoting trade.
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