Describes trade agreements this country is a party to. Includes resources where U.S. companies can get information on how to take advantage of these agreements.
Serbia has been a Party to the Central European Free Trade Agreement (CEFTA) since December 2006. CEFTA is a regional free-trade agreement composed of the following members (which, together, have a total population of nearly 20 million): Albania, Bosnia and Herzegovina, Northern Macedonia, Moldova, Montenegro, Serbia and UNMIK/Kosovo.
Goods originating from Serbia and exported to the EU customs area are subject to preferential customs regimes. Serbia’s Stabilization and Association Agreement with the EU and Interim Agreement on Trade and Trade-Related Issues opened the door for Serbia to begin systemic reforms and harmonize its legislation with EU standards. Under this agreement, Serbia has abolished tariffs on most goods imported from the EU.
The United States restored Normal Trade Relations with Serbia in December 2003, providing improved access to the U.S. market for Serbia. In 2005, the U.S. government designated Serbia as a beneficiary of the U.S. Generalized System of Preferences (GSP), providing duty-free access to the U.S. market in various eligible categories. In 2018, Serbia exported $93 million to the United States under GSP.
Serbia has concluded bilateral free-trade agreements with the Russian Federation, Belarus, Kazakhstan, Turkey, and the European Free Trade Association (Norway, Switzerland, Iceland, and Liechtenstein). Serbia is also a beneficiary of Japan’s GSP (preferential duties on importation to Japan).
In October 2019, Serbia signed a Free Trade Agreement with the Eurasian Economic Union (EAEU), which will replace Serbia’s bilateral FTAs with EAEU member states Russia, Belarus, and Kazakhstan once all member countries ratify the agreement.