Serbia to ratify CEFTA in September

Serbia is set to ratify the Central European Free Trade Agreement (CEFTA) by the end of September, the Economy Ministry says.

Izvor: Beta

Sunday, 03.06.2007.

12:30

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Serbia to ratify CEFTA in September

According to Matić, signatories of the Agreement have concurred with Serbian government’s Action Plan for the tobacco industry, which foresees an equaling of excise taxes on domestic and international cigarette brands as of January 1, 2008, as well as an increase in customs duties to 57.6 from 15 percent.

Matić said that once it ratified the agreement, Serbia would be obliged to treat all markets within CEFTA as domestic, adding that all protective measures outlined in the agreement would last until Serbia entered the World Trade Organization, which is likely to happen in 2008.

“By becoming a member of CEFTA, Serbia will benefit the most from a so-called diagonal accumulation principle that enables privileged export regime into the EU market of goods produced in more than one of the CEFTA member states,” she said.

Serbia, Montenegro, Bosnia, Albania and Moldavia signed CEFTA on December 19, 2006, to join Croatia, Macedonia, Romania and Bulgaria.

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