Agreement on free trade between SCG and Belarus until end of 2005

"The Agreement on free trade between Serbia and Montenegro and Belarus will be signed before the end of 2005", it was announced at the meeting of economic delegations of these two countries in the premises of Chamber of Commerce of Serbia.

In 2005, besides the 70% increase in export, Serbia exported goods worth only 5.6 million USD to Belarus, whereas the value of the import reached 37 million USD. Basic reason for high foreign trade deficit with Belarus lies in the fact that the prices of Serbian products are, due to high duties, higher by 40 - 76%.

It was pointed out that the businessmen from both countries were interested in cooperation and that the opening of Free Trade Zone would enable much better and more productive exchange of goods. One of the obstacles for more intensive cooperation is lack of direct traffic connections between the two countries, as well as shortage of information.