Kazakhstan-Serbia cooperation

28.01.2021

The upper house of the Kazakhstan parliament ratified a free trade agreement between the Eurasian Economic Union (EAEU) and Serbia.

Both sides will liberalise mutual trade in accordance with the agreement, while member states will allow equal access to markets for Serbian goods.

The implementation of this agreement will further expand the sales market for goods produced in the EAEU states, the head of the department believes. “In particular, the potential for increasing the export of Kazakh goods to Serbia is US $ 250 million.  These are goods of the petrochemical, chemical, metallurgical, machine-building, food industries, as well as construction materials,” KZ Minister of Trade and Integration Bakhyt Sultanov said.

Thus, the countries of the Eurasian Economic Union can deliver cheese, alcoholic beverages and cigarettes to Serbia without paying customs duties. Previously, these goods were subject to import customs duties.

In order to protect the internal market, the Eurasian Economic Union retained the application of duties on the import of poultry meat, sugar, textiles, alcoholic beverages, cigarettes, as well as on a number of industrial goods such as compressors and motor vehicles.

Serbian Prime Minister Ana Brnabic and the prime ministers of Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, and the chairman of the the EAEU’s board, Tigran Sargsyan, signed the agreement on free trade between Serbia and the Union in Moscow on 25 October 2019.


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Saved: 28.01.2021




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