Mali: FTA with China has entered into force

BELGRADE - Serbian Finance Minister Sinisa Mali said a Serbia-China FTA had entered into force on July 1 and that this was big and important news for the Serbian economy.

"This means that, thanks to an agreement that is the culmination of the cooperation between the two countries and another confirmation of the steely Serbia-China friendship, a market of as many as 1.4 billion people is open to our local businesspeople starting from today," Mali wrote in an Instagram post.

The agreement covers around 20,000 products, 60 pct of which are duty-free at this time, and the percentage will rise by a further 30 pct in the next five to ten years, Mali said, adding that the most sensitive Serbian products, agricultural products in particular, would be protected under the agreement.

By growing stronger, the Serbian economy will become more attractive and more competitive, Mali noted.

The domino effect will be felt by the entire country and everything in that economic cycle will lead us to the desired results - even better living standards in Serbia, he said.

"I wish Serbian companies much success with new deals they will be making and I look forward to all of their future record-high exports. A strong economy is the core of future progress," Mali said.