Trade Agreement Between Serbia And Eu

Talks between the two countries failed in November, when Kosovo imposed a 100 percent tax on Serb and Bosnian products to take retaliatory measures that do not recognize domestic territory. “We must bear in mind that about 83% of our total foreign trade with the EAEU countries is with the Russian Federation, which is why this unique agreement is so important to us,” he continued. The free trade agreement focuses on the liberalization of trade in goods. As soon as the agreement came into force, EFTA eliminated all tariffs on Serbian industrial products, including fish and other seafood. Serbia has phased out its tariffs on imports of industrial products from EFTA countries. Other agricultural agreements between the various EFTA states (Iceland, Norway and Switzerland) and Serbia are an integral part of the instruments for creating the free trade area. The European Union negotiates free trade agreements on behalf of all its member states, as EU member states have granted “exclusive jurisdiction” to conclude trade agreements. Nevertheless, the governments of the Member States control every step of the process (through the Council of the European Union, whose members are the national ministers of each national government). “Serbia should gradually adapt to the EU`s common foreign and security policy. We are monitoring the situation closely and discussing these issues as part of our regular political and commercial dialogues with the Serbian authorities,” Kocijancic said. Trade with the United States is conducted under the Generalized Preferences System (GSP).

U.S. trade advantages provide preferential duty-free entry for approximately 4,650 products, including most of the finished and semi-finished products, as well as certain agricultural and primary industrial products. Some sensitive products (for example. B most textile products, leather goods and footwear) cannot be exported duty-free. The list of eligible products is reviewed and adjusted twice a year, using inputs from the U.S. industry. “On 31 May 2016, the Euras High Economic Council decided to start negotiations with Serbia for entry into a new single free trade agreement that would apply to the five EAEU member states,” he said.

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