Serbian MPs approve FTA with China, W Balkan agreement on food security

BELGRADE - Serbian MPs on Thursday approved several agreements, including a FTA with China and an agreement on food security mechanisms in the Western Balkans.

The FTA with China pertains to 10,412 Serbian products and 8,930 Chinese products.

Under the agreement, one group of products will be duty-free from the date of the deal's entry into force, while duties on three other groups of products will be tapered to zero in equal annual tranches over a period of 5, 10 and 15 years, respectively.

The products will remain duty-free for a period of 5, 10 and 15 years, respectively.

Duties on some products will remain in force.

The agreement on mechanisms of food security in the Western Balkans, signed by the agriculture ministers of Serbia, North Macedonia and Albania at an Open Balkan summit in Belgrade last September, is aimed at averting shortages of basic agricultural and food products in the markets of the states participating in the Open Balkan initiative.

Under the agreement, they will help each other in cases of supply chain disruptions resulting from global crises.