Free trade zone between the EAEU and Serbia will start operating on July 10, 2021
The agreement on a free trade zone between the member states of the Eurasian Economic Union and the Republic of Serbia will come into effect on July 10 of this year. The text of the document in Russian and English is presented on the website of the Eurasian Economic Commission.
The agreement was signed in October 2019 and provides for the liberalization of mutual trade in accordance with the WTO rules. The objectives of the Free Trade Area Agreement are the expansion and development of mutual trade and the creation of effective procedures for the implementation and application of the Agreement.
According to the document, the EAEU member states and the Republic of Serbia do not apply customs duties and fees in relation to the import or in connection with the import of goods originating from the territory of one of the countries. In this case, the goods must meet the criteria of origin established by the Rules for determining the origin of goods.
In accordance with Article 10 of the Rules for Determining the Origin of Goods, one of the conditions for granting a free trade regime is the direct delivery of goods from Belarus to Serbia. At the same time, in the new Agreement there is no previously mandatory requirement for the need to conclude an agreement between residents of the two countries. The certificate of origin of goods of the CT-2 form will be issued for one consignment of goods; its validity period in order to provide a free trade regime will be 12 months from the date of issue.