Serbia signs deal with EFTA countries
Economy Minister Mlađan Dinkić today in Geneva signing an agreement on free trade with the European Free Trade Association (EFTA) countries.
Thursday, 17.12.2009.
16:01
Economy Minister Mladjan Dinkic today in Geneva signing an agreement on free trade with the European Free Trade Association (EFTA) countries. He described this as "another step toward Serbia’s better positioning". Serbia signs deal with EFTA countries Iceland, Norway, Switzerland, and Liechtenstein are members of this organization. The free trade agreement with these countries will come into effect in April next year after the ratification in parliament, and it will provide export of Serbian products to this market without customs duty free, the Ministry of Economy and Regional Development announced. Dinkic said that Serbia also signed agreements regulating free trade with Turkey and Belarus this year, and that it already had similar deals with the EU, Russia and regional CEFTA countries. This means that Serbian products will be exported duty-free to the market of over 800mn consumers, said he. Dinkic pointed out that this was "a big chance, not only for Serbian production and export, but also for attracting new foreign investments". “Trade with EFTA is about EUR 260mn at the moment and I think it will significantly increase after the signing of the agreement. Investments from EFTA countries are worth about EUR 2bn and I believe that we will have even more in the future, and that is the biggest benefit for Serbia,” Dinkic said. While in Geneva, the minister also had a meeting with Director-General of the World Trade Organization (WTO) Pascal Lamy and discussed the process of Serbia’s admission to this organization. They concluded that Serbia’s admission to WTO would provide the economy with numerous conveniences regarding trade. “In order to become a member of the EU, Serbia needs to be a member of WTO, and we will intensify the admission process during next year,” Dinkic said, and added that Serbia was currently "bilaterally negotiating with certain countries". He was also quoted as saying that the final goal of these negotiations was to increase the safety that Serbia offers to foreign investments. Mladjan Dinkic (Tanjug, file)
Serbia signs deal with EFTA countries
Iceland, Norway, Switzerland, and Liechtenstein are members of this organization.The free trade agreement with these countries will come into effect in April next year after the ratification in parliament, and it will provide export of Serbian products to this market without customs duty free, the Ministry of Economy and Regional Development announced.
Dinkić said that Serbia also signed agreements regulating free trade with Turkey and Belarus this year, and that it already had similar deals with the EU, Russia and regional CEFTA countries.
This means that Serbian products will be exported duty-free to the market of over 800mn consumers, said he.
Dinkić pointed out that this was "a big chance, not only for Serbian production and export, but also for attracting new foreign investments".
“Trade with EFTA is about EUR 260mn at the moment and I think it will significantly increase after the signing of the agreement. Investments from EFTA countries are worth about EUR 2bn and I believe that we will have even more in the future, and that is the biggest benefit for Serbia,” Dinkić said.
While in Geneva, the minister also had a meeting with Director-General of the World Trade Organization (WTO) Pascal Lamy and discussed the process of Serbia’s admission to this organization.
They concluded that Serbia’s admission to WTO would provide the economy with numerous conveniences regarding trade.
“In order to become a member of the EU, Serbia needs to be a member of WTO, and we will intensify the admission process during next year,” Dinkić said, and added that Serbia was currently "bilaterally negotiating with certain countries".
He was also quoted as saying that the final goal of these negotiations was to increase the safety that Serbia offers to foreign investments.
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