Application of EFTA Free Trade Agreement commenced

The application of the Free Trade Agreement with the EFTA countries started today. The agreement with Serbia has been ratified by Switzerland and Lichtenstein, while the ratification by Norway and Iceland is expected.

On that occasion, on Wednesday, September 29th, a seminar dedicated to the specific features of the EFTA agreement was held in the Belgrade Chamber of Commerce in association with the Customs Administration.

- With the coming into force of the EFTA agreement, the members will revoke all duties on the industrial products made in Serbia, while our country will be gradually lowering duties on the import of industrial products by the end of 2013 - it was explained at the seminar.

As it was announced, the total exchange of goods between Serbia and EFTA countries in 2008 amounted to 338 million dollars, 267m of which was the value of the goods imported by Serbia, primarily pharmaceutical products, machines, optics, medical equipment, watches and chemicals, while the value of the exported goods, primarily aluminum and aluminum products, machines and fruits, was 71 million dollars.