The free trade agreement with China opens the door for the duty-free export of around 10,000 Serbian products. We will have 2,000 fewer products from that market. The state says – mostly what we do not produce ourselves. They expect that the agreement will increase the volume of the domestic economy and bring in new investors.
On the day the agreement enters into force, we will export duty-free fresh fruit, meat and vegetable products, jam, beer, and water to China. These products make up 60 percent of the list of domestic agricultural and food products that Serbia applied for the abolition of customs duties.
For 16 percent of the products on the list, customs duties will be reduced for the next five years until they are completely abolished. On it are fresh and dried vegetables, fruit – pears and grapes, then chewing gum, fruit juice, ketchup and some confectionery products. The country is perhaps expecting the biggest boost in wine exports.
Minister of Agriculture Jelena Tanasković says that this will mean for our economy, the economy, new jobs as well as, as she pointed out, for the uncertainty that has crept in at the moment due to the situation on the market where business partners are changing.
“For example, today wine is subject to customs duties at a rate of 42 percent. In the next five years, that rate will be zero,” emphasizes Tanasković.
In two decades, the export of Serbian wine to China increased from 80 to 380,000 liters. We sell them mostly good quality wine for around seven euros per bottle. Experts say they are ready to pay even more.
Prof. Dr. Darko Jakšić from the Institute for the Application of Science in Agriculture points out that the fact that the EU does not have such an agreement with China is an advantage.
