NEWS

At a joint briefing with Georgian Prime Minister Irakli Kobakhidze, Serbian President Aleksandar Vučić praised Georgia’s economic development and governance achievements. He mentioned that only a few countries have managed to achieve similar results in Europe.
Speaking about Georgia’s economic performance since 2012, the Serbian president highlighted the country’s 9.3% economic growth in the first quarter and strong expansion in sectors such as construction and tourism have attracted attention across Europe. He said that other countries could learn a lot from this experience.
According to Vučić, the both countries share common Orthodox Christian traditions, mutual respect. He mentioned longstanding friendship between the two nations. Also, he is the first Serbian to visit to Georgia.
Meanwhile, Aleksandar Vučić expressed his gratitude to Georgia for its warm hospitality. He also praised the country’s efforts to protect its sovereignty, territorial integrity and national interests.
He said that here are many countries in the world that are carefully studying Georgia’s approaches and trying to improve themselves based on its experience.
As Vučić also announced, signing of a free trade agreement between Georgia and Serbia is possible. This deal will become a major step forward in bilateral relations.
According to the Serbian president, the increase of trade turnover between the two countries attained 36.4% in the first quarter of the year. Meanwhile, direct flights between Georgia and Serbia make cooperation in tourism and services grow steadily.
Vučić said that the sides are only a small step away from completing negotiations and signing a free trade agreement. He explained that cooperation, trade and economic between our countries will accelerate significantly as soon as it enters into force.
The Serbian President talked about the plans to open an embassy of Serbia in Georgia in the near future. He hopes that Georgia would also establish a diplomatic mission in Serbia to further strengthen political and economic ties between the countries.
Georgia’s tourism sector was also appreciated by the Serbian president. He found impressive not only the country’s wine tourism, but also by its ski resorts and winter tourism infrastructure.
Vučić said that Georgian tourism infrastructure is comparable to that of Europe. It offers many options for people who come to Georgia for different reasons.
Finally, the Serbian leader expressed his gratitude to the Georgian authorities for their hospitality and for “great memories” of the visit.
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.

Source Link

As the Ministry of Trade, Industry and Resources said on Friday, South Korea and Serbia have signed a comprehensive economic partnership agreement (CEPA), a broader form of free-trade agreement.
Finally, South Korean Trade Minister Yeo Han-koo and his Serbian counterpart Jagoda Lazarević signed the document in Belgrade. It took the sides about two years to negotiate about all the details.
In addition to tariff reductions, economic and supply-chain cooperation, opening new opportunities for exports and access to critical minerals used in batteries and other strategic industries are included in the broader deal.
Nowadays, Serbia has become an increasingly important manufacturing hub in Southeast Europe, despite its relatively small population of seven million. It is due to significant reserves of lithium, copper, zinc and other minerals used in batteries and other high-tech industries.
Tariffs on more than 90 percent of traded goods, covering over 96 percent of import value, will be eliminated, according to the agreement.
Especially, South Korean technology exporters expect to get a particular benefit. The reason is elimination of tariffs of up to 25 percent on Serbian semiconductors and electronic products. Serbia has agreed to do this, because the country is not part of the World Trade Organization’s Information Technology Agreement (ITA).
Also, immediate removal of expanded tariffs on all automotive parts and market access for electric and hybrid vehicles are beneficial for South Korean automakers.
Moreover, South Korean exports, including instant noodles, roasted seaweed, ginseng, cosmetics, pharmaceuticals and defense-related goods will get a broader access to the Serbian market.
Also, supply chains for advanced industries are expected to be strengthened by the agreement. It will eliminate tariffs on Serbian raw materials, including lithium, cobalt, nickel, graphite and rare-earth elements, immediately or phased out within five years. This measure will support South Korea’s battery and advanced manufacturing sectors.
Clearing imported goods within 48 hours of arrival and express shipments processed within six hours would also increase business efficiency. Efforts to curb online infringement are another measure to strengthen intellectual property protection.
Yeo said that the agreement marks a major step forward in economic cooperation between the two countries. He added that it creates a platform for collaboration not only in trade but also in supply chains, energy, critical minerals and future industries such as AI and biotechnology.
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.

Source Link