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Entry into force of Serbia-Eurasian Economic Union free trade agreement historic -minister

"It is a historic moment for Serbia,"Serbian Innovation and Technological Development Minister Nenad Popovic, head of the intergovernmental committee for cooperation with Russia, said

BELGRADE, July 10. /TASS/. It is a historic moment for Belgrade that the Free Trade Agreement between Serbia and the Eurasian Economic Union (EAEU) came into effect on July 10, Serbian Innovation and Technological Development Minister Nenad Popovic, head of the intergovernmental committee for cooperation with Russia, told TASS on Saturday.

"It is a historic moment for Serbia. As a result of our excellent political relations, new prospects for the development of our economic ties have opened, which is of crucial importance for our state, economy and citizens. With this agreement coming into effect, Serbia’s economy will be able to export almost all the goods produced in the markets of the Eurasian Economic Union, which has about 200 million people, without trade duties," Popovic said adding that "it is an exclusive advantage compared to all the other countries in Europe and the world."

"As a minister in the Serbian government, I will do my utmost to use this advantage to the full, so that with the state’s systematic strategic support, the Serbian economy can take as best position in this market as possible and can export as much as possible in the future. At the same time, I would like to invite investors from Russia and the EAEU to invest in Serbia. The Serbian government provides high subventions for the new jobs. We are developing an excellent transport infrastructure, and we have perfectly educated engineering staff. Thanks to this, Serbia has been a global leader in attracting direct foreign investments in the past few years," the Serbian minister said.

On July 10, the Free Trade Agreement between Serbia and the EAEU, which was signed on October 25, 2019, entered into force. Serbia mainly exports metals (steel, copper), high technology, machinery and equipment, agricultural products, foodstuffs, petrochemicals, electricity and medicines to other countries.