MOSCOW, 31 May (BelTA) – Negotiations on establishing a free trade zone between Serbia and the Eurasian Economic Union may be held in a dynamic manner. Veronika Nikishina, Member of the Board (Minister) for Trade of the Eurasian Economic Commission, made the statement as she commented on the decision the Supreme Eurasian Economic Council made in Astana on 31 May to start talks with Serbia on unifying trade regulations, BelTA has learned.
The official explained that at present only three Eurasian Economic Union member states — Belarus, Russia, and Kazakhstan — have signed free trade agreements with Serbia and some provisions of these agreements differ. The same kind of preferences is not available in trade between Serbia and Armenia and Kyrgyzstan because these countries use the most favored nation principle in bilateral trade. For instance, they offer the same rates of customs duties, which other partners in the World Trade Organization enjoy.
“We've been instructed to start the talks to sign a new free trade zone agreement between the Eurasian Economic Union, its member states and Serbia,” said Veronika Nikishina. The measure will unify the rules that regulate trade between Serbia and all the Eurasian Economic Union member states. The negotiations will also offer an opportunity to discuss new terms, discuss what other kinds of merchandise the Eurasian Economic Union member states can sell to Serbia and request more favorable terms for these commodities. “We expect that these talks can be held in a dynamic manner since the preferential regime has already been established with three countries of the Eurasian Economic Union. We cannot say yet when the new agreement may be signed and when it may come into force,” said the Eurasian Economic Commission official.
