The Ministry of Commerce announced on the 28th that the Free Trade Agreement between the Government of the People's Republic of China and the Government of the Republic of Serbia was signed on October 17, 2023. At present, both China and Serbia have completed their domestic approval procedures, and the agreement will officially come into effect on July 1, 2024. After the China Serbia Free Trade Agreement takes effect, both sides will gradually cancel tariffs on 90% of the tax items, with tariffs on more than 60% of the tax items immediately cancelled on the day the agreement takes effect. Both sides will ultimately achieve a zero tariff import ratio of around 95%. At the same time, the agreement also establishes institutional arrangements in many fields such as rules of origin, customs procedures and trade facilitation, sanitary and phytosanitary measures, technical trade barriers, trade remedies, dispute resolution, intellectual property protection, investment cooperation, competition, etc., which will provide a more convenient, transparent, and stable business environment for enterprises in both countries. The entry into force and implementation of the China Serbia Free Trade Agreement is an important measure to implement the important consensus reached by the leaders of the two countries and the outcomes of the third "the Belt and Road" International Cooperation Summit Forum, which will further promote the upgrading of bilateral economic and trade cooperation and inject new momentum into deepening China Serbia comprehensive strategic partnership and building a community of shared future in the new era. (Lai Xin She)
Edit：Yi Jing Responsible editor：Li Nian
Source：XinhuaNet
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