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Liberalized Trade

 

 

Logistics and FTAs are only some of the reasons to locate your business.

 

 

·      *Global Market

·      *European Union

·      *United States

·      *Russia

·      *CEFTA

·      *Turkey

·      *EFTA

·      *Belarus

·      * Local Market



Global Market

 

Externally, Serbia can serve as a manufacturing hub for duty-free exports to a market of 1 billion people. It includes the European Union, the United States of America, the Russian Federation, Kazakhstan, Turkey, South East Europe, the European Free Trade Agreement members, and Belarus.

 

This customs-free regime covers most key industrial products, with only a few exceptions and annual quotas for a limited number of goods.

 

Upon the completion of negotiations with Egypt, the territory with duty-free access for Serbia will be increased by the population of additional 77 million.

http://www.siepa.gov.rs/files/pics2010/ENG_Serbias_Preferental_Trade_Agreements_2011.jpg

 

 

European Union

 

Exports to the European Union market are free-of-customs according to the Stabilization and Association Agreement. For several food products (calf, sugar, and wine) export quantities are limited by annual quotas.

 

Imports from the EU are pursued based on the Interim Trade Agreement, as part of the Stabilization and Association Agreement, providing for progressive abolishment of import customs duties for industrial and certain agricultural products from the EU countries by 2014.

 

 

United States

 

Trade with the United States is pursued under the Generalized System of Preferences (GSP). U.S. trade benefits provide for a preferential duty-free entry for app. 4,650 products, including most finished and semi-finished goods and selected agricultural and primary industrial products. Certain light industry goods (e.g. most textile products, leather goods, and footwear) are not eligible for duty-free exports. The list of eligible goods is reviewed and adjusted twice per year, with input from U.S. industries.

 

For the full list of goods eligible for GSP treatment log on to:  www.ustr.gov

 

 

Russia

 

The Free Trade Agreement with Russia, signed in August 2000, makes Serbia particularly attractive to foreign investors in the manufacturing sector. The Agreement stipulates that goods produced in Serbia, with over 50% value added in the country, are considered to be of the Serbian origin. For exports to Russia, the FORM A Certificate is required as a proof of goods origin. The only tariff charged is the customs record keeping cost, amounting to 1%.

 

The list of products, excluded from the Free Trade Agreement, is revised annually. In 2009, the duty-free regime was extended to the following goods: all drugs, confectionery products, apple juice, malt beer, fresh grape wines, all soaps, wool clothing, refrigerators, freezers and all refrigerating devices, washing and drying machines, wooden upholstered se wooden office furniture, sleeping bags, sheats,ets, and similar goods.

 

 

CEFTA

 

The Central European Free Trade Agreement (CEFTA) is the trade agreement between the following countries in South East Europe: Albania, Bosnia and Herzegovina, Croatia, FYR Macedonia, Moldova, Montenegro, Serbia, and the United Nations Interim Administration Mission (UNMIK) in Kosovo. The Agreement has been in effect as of July 2007, providing companies in Serbia with an opportunity to reach the 29 million people market free-of-customs.

 

CEFTA envisages the abolishment of customs restrictions for industrial and agricultural products in the CEE countries by 2010. In addition, the Agreement stipulates accumulation of products origin, meaning that products exported from Serbia are considered of the Serbian origin if integrated materials originate from any other CEFTA country, the European Union, Iceland, Norway, Switzerland, Liechtenstein or Turkey, provided that such products have undergone sufficient processing (if the value added there is greater than the value of the materials used in Serbia). For exports to the member countries of CEFTA, the EUR 1 Certificate is required as a proof of goods origin.

 

For the full version of the Agreement log on to: www.stabilitypact.org

 

 

Turkey

 

Trade between Serbia and Turkey is regulated upon the model implemented in trade with the European Union. Industrial products originating in Serbia can be exported to Turkey without paying customs duties. Imports of industrial products into Serbia are generally customs-free, but for a large number of goods customs duties will be progressively abolished over the six-year period, ending in 2015.

 

For trade in agricultural products customs duties remain in effect, with certain Most Favored Nation reductions for a number of products.

 

 

Belarus

 

The Free Trade Agreement with Belarus envisages mutual abolishment of customs and non-customs duties in trade between the two countries. There are only a few exceptions to the Agreement, including sugar, alcohol, cigarettes, as well as used cars, buses, and tires.

 

 

Local Market

 

Internally, with 7.5 million people, the Serbian market is the 2nd largest in South East Europe. The average net monthly salary rose from merely €194 in 2004 to €402 in 2008. Coupled with rapid consumer loan expansion, this fueled a sharp increase in local demand that was particularly reflected in a double-digit surge in retail trade turnover on an annual basis.

 

In response to expanding local demand, international retail chains have opened up dozens of new stores across the country. By illustration, from 2004 to 2009 total retail and wholesale foreign investment reached more than €1.6 billion.