Serbia and China have signed a Free Trade Agreement in Beijing, which will encompass the reduction or elimination of tariffs for 10,412 Serbian and 8,930 Chinese products. The Free Trade Agreement between Serbia and China represents a key bilateral agreement that was signed to strengthen economic cooperation and enhance trade relations between the two countries. The signing of this agreement marked a new era in the bilateral relations between Serbia and China, paving the way for the development of a broader spectrum of cooperation in the fields of trade, investment, and economic development.
Free Trade Agreement between Serbia and China
One of the key points of the Free Trade Agreement between China and Serbia pertains to the gradual reduction of tariff barriers and facilitation of trade between the two countries. With this bilateral free trade agreement, it is expected that the volume of trade between China and Serbia will significantly increase, creating favorable conditions for expanding exports and enhancing market opportunities for businesses in both countries. Many products will be traded duty-free when the Free Trade Agreement between Serbia and China comes into force, which is expected to be in June 2024. Serbia's investment potential through this Agreement is certainly growing, and it is believed that many companies will invest in Serbia to be able to sell their products in China without tariffs.
When it comes to the question: Does China have FTA with Europe, it is important to say that on 30 December 2020, the EU and China concluded the negotiations on the Comprehensive Agreement on Investment (CAI), but it has not yet been ratified. Also, many business people raise the question: Does China allow free trade with other countries, we must say that the Free Trade Agreement between Serbia and China is the first free trade Agreement that China signed with a country from central and East Europe, which makes Serbia 29th country in China’s fta network.
There will also be a benefit of the Free Trade Agreement between Serbia and China for Chinese companies operating in Serbia, having in mind that they are large exporters from Serbia to the Chinese market, which makes investment in Serbia a very profitable business decision.
It is believed that the Free Trade Agreement between Serbia and China will have a positive impact on the economic performance of both countries, paving the way for long-term sustainable economic development, and that investment opportunities in Serbia will be significantly improved.
