Companies interested in entering to Serbian and Chinese markets have learned about the most important elements of the Free Trade Agreement between Serbia and China, which comes into effect on July 01. Assistance and visits of Serbian entrepreneurs to encourage them to take advantage of this opportunity, which should not be missed, was announced by the relevant Ministry.
Nearly 20,000 products, more than half of which will be ready for import and export without customs duties from July 01, are included in the list of the Free Trade Agreement between Serbia and China.
Minister Tomislav Momirović warns about the danger of people from the region, from Europe, and around the world who will come here and take advantage of this agreement, open companies, and adapt production if Serbians and Chinese don’t get involved first, if their business world and business community don’t immediately recognize this opportunity.
According to Sophia Li from Linglong International, both Chinese and Serbian companies will get more goods and materials from the agreement.
She says that in her opinion a lot of preparation must be done from the part of Serbian entrepreneurs to develop the market in China, and they will survive in that market as long as they have good products.
Experts think that a new investment climate and opportunity for joint ventures, primarily with European partners, are being created by Serbia with the help of the agreement with China in Europe, along with Georgia and Switzerland. The importance of Serbian production of more than 50 percent of the products marketed in China is emphasized by experts.
According to Mihajlo Vesović from the Serbian Chamber of Commerce, logistics costs in trade with China are currently very stable. The importance of strategic thinking was highlighted by him.
Vesović notes that the ‘Belt and Road Initiative’ allows transport and trade between China and Serbia, and generally Europe, to be as efficient, cost-effective, and competitive as possible.
A wide range of opportunities is guaranteed by over ten thousand export positions to China and over eight thousand import positions. Dr. Bojan Lalić, Director of the Belt and Road Institute in Belgrade, emphasizes this fact and adds that it is necessary to transform every opportunity into a result.
Serbian producers will send various types of fish, beans, fresh fruits and vegetables, pharmaceutical products, and seats for the automotive industry on pallets heading to China without customs duties starting July 01. The population of the Chinese market is estimated at 1.4 billion people.
NH Logistics SER has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Serbia and Eurasia, supporting many clients with their import/export shipments.
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