Serbia Russia Free Trade Agreement Text

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Imports from the EU are exempt from customs duties for most products. Some export restrictions apply only to exports of baby beef, sugar and wine in the form of annual export quotas. Kocijancic said the EU remains Serbia`s main trading partner, with bilateral trade accounting for 63% of total Balkan trade. The agreement has been in force since 2011. The list of free trade exemptions includes meat, cheese, wine, motor vehicles and several other product categories. “The text of the free trade agreement [with the Russian bloc] should. David McAllister, a German centre-right MEP who chairs the European Parliament`s foreign affairs committee, also told the EUobserver on Tuesday that Serbia would have a withdrawal clause that would guarantee withdrawal from the agreement before the date of its final accession to the EU. “Serbia has trade agreements with Russia, Kazakhstan and Belarus. Armenia and Kyrgyzstan are committed. We are implementing an important function: unifying the preferential trade regime for all the countries of the Union.

This agreement will give new impetus to the development of trade and economic cooperation with Serbia,” said Tigran Sargsyan, Chairman of the EWC Committee. The agreement provides for “immediate savings on customs payments” in trade between Serbia and Bloc member countries, Russian Prime Minister Dmitry Medvedev`s office said in a statement relayed by state media. “Every EU country will benefit from new opportunities to increase exports to Serbia. For Armenia, this potential lies in increasing exports of goods of traditional export interest – alcohol and cigarettes, food and agricultural products. Externally, Serbia can serve as a centre for the production of duty-free exports to a market of more than one billion people including the European Union, the Russian Federation, the United States, Kazakhstan, Turkey, South-Eastern Europe, the members of the European Free Trade Agreement and Belarus. This duty-free regime applies to most important industrial products, with a few exceptions and to annual quotas for a limited number of goods. Today, Serbia is not a member of the WTO and, therefore, such provisions, as well as the modern institution of dispute settlement and commercial interests, are quite relevant for all eu Member States. Trade with the United States is carried out within the framework of the Generalised System of Preferences (GSP). U.S. trade benefits provide duty-free preferential entry for approximately 4,650 products, most of which are finished and semi-finished products, as well as some primary agricultural and industrial products.

Certain sensitive goods (e.g. B most textiles, leather goods and footwear) are not suitable for duty-free exports. The list of eligible products is reviewed and adapted twice a year, with contributions from U.S. industry. The agreement is based on the willingness of the parties to develop and deepen trade and economic cooperation in areas of common interest. The upper house of the Russian parliament on Tuesday ratified a free trade agreement between the Eurasian Economic Union (EAWU) and Serbia. The agreements concluded have economic benefits for the countries of the Union and Serbia, both in the near future, on the basis of immediate savings on customs duties on current exports, and in the medium term – with regard to the implementation of export opportunities within the framework of the extension of the free trade regime … . .

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