Philip Morris reacts to CEFTA

Philip Morris considers relocating sections of its Serbia-based production due to CEFTA agreement.

Izvor: Beta

Friday, 26.01.2007.

13:57

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Philip Morris reacts to CEFTA

Sidoli told the daily Glas Javnosti that Philip Morris had shifted a significant part of its production of international brands into Serbia, with the belief that the economic situation would be stable by 2009.

According to current conditions imposed by CEFTA, Southeast Europe’s free trade agreement, the company finds it more profitable to import goods to Serbia, rather than to produce cigarettes for later export, which goes against any logic and long-term goal set by Philip Morris for Duvanska Industrija Niš.

Sidoli added that the production of cigarettes may be moved to Montenegro or Romania, if Serbian and Montenegrin governments do not agree soon on an end to double taxing.

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