EFTA-Serbia Joint Committee holds second meeting

Thordur J. Sigtryggsson (Iceland), Patrick Ritter (Liechtenstein), Bojana Todorovic and Stevan Nikcevic (Serbia), Ragnhild Gunnes (Norway) and Philippe Etienne (Switzerland)

The meeting was preceded by a meeting of the Sub-Committee on Rules of Origin, Customs Procedures and Trade Facilitation on 19 May.

Since October 2010, the EFTA-Serbia FTA has entered into force successively for all Parties. Taking stock of the operation of the FTA, the Joint Committee expressed its satisfaction with its smooth implementation, the timely dismantling of customs tariffs and positive trends in bilateral trade.

The Serbian delegation was led by Ms Bojana Todorovic while Ms Ragnhild Gunnes acted as EFTA spokesperson.

In the fringes of the Joint Committee meeting a protocol amending the FTA to include a chapter on trade and sustainable development was signed by Serbia and the EFTA States.

A steady increase in bilateral trade has been apparent over the last five years, with total bilateral merchandise trade between the EFTA States and Serbia amounting to USD 353 million in 2014. EFTA-based companies continue to be significant investors in Serbia.