The Serbia-China free trade agreement takes effect on Monday giving Serbian manufacturers access to the Chinese market.
The free trade agreement covers 10,412 Serbian products and 8,930 Chinese products. The agreement was signed n October 2023 by the two counties trade ministers with Presidents Aleksandar Vucic and Xi Jinping present.
Under the agreement, 60 percent of the goods covered will be free of customs charges immediately and another 30 percent over the next 5-10 years with agricultural products given protection.
Serbian farmers can now export fresh produce and pharmaceutical companies, chemicals producers and the machine industry getting the same status.
The Beta agency said China is one of Serbia’s most improtant trade partners adding that Chinese companies have invested more than 5.5 billion Euro in the country since 2014, accounting for 17.5 percent of all investments. Trade between the two countries stood at 6.09 billion Dollars in 2023 with Serbia’s exports accounting for 1.2 billion.
China has free trade agreements with Switzerland and Georgia in Europe.
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