From 1st September shall enter into force the Agreement of Stabilization and Association

With the entry into force the Agreement of Stabilization and Association on 1st September will not be any significant changes in trade relations between Serbia and the EU, says the Assistant Minister of Trade Bojana Todorovic.

“Relations between Serbia and the EU until 1st September 2013 shall be established by the Transitional Trade Agreement, which has a narrower scope than the ASA and applies only to the movement of goods and the creation of a free trade area between Serbia and the EU,” she said.

A free trade zone implies elimination of custom and other non-custom restrictions between the partners, with the EU long before the signing of application of PTS as a form of economic support to Serbia, even from 2000 abolished customs on all industrial products and for almost all agricultural products that are exported from Serbia to the EU and Serbia will in 2014, abolish all customs duties for industrial products while will keep custom for some agricultural products until we become an EU member.

As Todorovic explained, it should be noted that no one country with which has signed free trade agreements is not gave to Serbia any benefits as provided by the EU.

Todorovic added that there are other areas that are exclusively regulated by ASA, and the entry into force of this Agreement will begin the deadlines for the fulfilment of the obligations assumed by both sides, and those are – political dialogue, regional cooperation, the movement of the employees, the establishment of companies, services, movement of capital, public procurement, justice, freedom and security.

The ultimate goal of the agreement is, as she said, to ensure equal treatment for business of European enterprises in Serbia and vice versa, Serbian companies in the European Union, as well as equal opportunity for movement of European and Serbian labour, services and capital.

“Thanks to the liberalization that ASA brings in all economic fields, it is expected progressively achievement of positive impact primarily on customers in terms of quality product and in terms of prices of goods and services and the improvement of living standards of the population,” said Todorovic.

She said that the ASA stronger foundation for future intensification of economic cooperation and economic development of Serbia and sends the message to the international investors that Serbia is one step closer to the EU

“Implementation of the ASA is a great support for economic and institutional stability in Serbia, Serbia’s efforts to develop all the mechanisms of market economy functioning and the legal state by harmonizing its legislation with the EU legislation, which is a prerequisite for attracting foreign investors, both in the EU and around the world, “said to Tanjug its interlocutor.