EFTA and Serbia promote exports under Free Trade Agreement

Ms Vesna Arsic, State Secretary, Ministry of Economy and Regional Development, Serbia, and Mr Erwin Hofer, Ambassador, Switzerland, highlighted the importance of increasing exports from Serbia to EFTA in their closing statements.

With the aim of making the FTA between Serbia and EFTA better known among the business communities and to promote exports from the region to the EFTA States, an Export Promotion seminar took place on 8 and 9 December 2010 in Belgrade.

The seminar focused on how the business community can successfully make use of the preferential conditions under the FTA. The presentations covered both technical and practical aspects regarding access to the EFTA markets. The seminar sparked interesting discussions and highlighted business opportunities for Serbian exporters.

The FTA entered into force between Liechtenstein, Switzerland and Serbia on 1 October 2010. For Iceland and Norway, it will become effective after completion of their ratification procedures. In 2009, total merchandise trade between EFTA and Serbia amounted to USD 263 million. Exports from the EFTA States reached USD 211 million, consisting mainly of pharmaceutical products, machinery, optical/medical equipment, clocks and watches, and chemicals. The EFTA States imported products from Serbia worth USD 52 million, primarily copper and aluminium and articles thereof; machinery; fruits and nuts; and machinery and mechanical appliances. Companies from the EFTA States are significant investors in the Serbian services and manufacturing sectors.