The most important elements of the Free Trade Agreement between Serbia and China, which comes into effect on July 01, were presented to companies interested in entering that market. The relevant Ministry announced assistance and visits of Serbian entrepreneurs to encourage them to take advantage of this opportunity, which they say should not be missed.
The list of the Free Trade Agreement between Serbia and China includes nearly 20,000 products. More than half of these will be ready for import and export without customs duties from July 01.
“If we don’t get involved first, if our business world, our business community, doesn’t immediately recognize this opportunity, open companies, and adapt production, we will find that people from the region, from Europe, and around the world will come here and take advantage of this agreement,” Minister Tomislav Momirović warns.
Sophia Li from Linglong International believes that the agreement will bring more goods and materials to both Chinese and Serbian companies.
“I believe that Serbian entrepreneurs need to do a lot of preparation to develop the market in China, and as long as they have good products, they will survive in that market,” says Li.
According to experts, with the agreement with China, Serbia in Europe, along with Georgia and Switzerland, is creating a new investment climate and opportunity for joint ventures, primarily with European partners. Experts emphasize that it is important that more than 50 percent of the products marketed in China must be produced in Serbia.
Mihajlo Vesović from the Serbian Chamber of Commerce says that logistics costs in trade with China are currently very stable, highlighting the importance of strategic thinking.
“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,” Vesović notes.
Dr. Bojan Lalić, Director of the Belt and Road Institute in Belgrade, emphasizes that over ten thousand export positions to China and over eight thousand import positions guarantee a wide range of opportunities, and every opportunity must be transformed into a result.
Starting July 01, on pallets heading to China various types of fish, beans, fresh fruits and vegetables, pharmaceutical products, and seats for the automotive industry will be sent without customs duties. The Chinese market has a population of 1.4 billion people.
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