СПОРАЗУМ О СЛОБОДНОЈ ТРГОВИНИ ИЗМЕЂУ РЕПУБЛИКЕ СРБИЈЕ И РУСКЕ ФЕДЕРАЦИЈЕ
The Free Trade Agreement between the Republic of Serbia and the Russian Federation

Summary/Abstract: The Free Trade Agreement between the Republic of Serbia and the Russian Federation was signed on 28th August 2000. Alongside the 2011 Protocol, this Agreement constitutes the legal framework for preferential trade of goods between the two countries. This Agreement is highly significant for national businessmen considering the fact that Serbia is one of the few states which have entered such an agreement with the Russian Federation. Russia is one of Serbia’s largest international trade partners but all the options have not been exhausted yet. The 2011 Protocol specified the exceptions from the free trade regime, which made provisions for an additional liberalization in terms of 99% of export products. The Protocol also envisages the uniform rules on the origin of trading goods which are binding for both Contracting Parties. A significant precondition for the placement of Serbian products on the Russian market is the compliance with strict standards, which is confirmed by the GOST Certificate. In August 2012, the Russian Federation became a member of the World Trade Organization. Formally speaking, this fact shall not have any impact on the Free Trade Agreement with Serbia but, practically speaking, the Serbian export companies will have to compete with businessmen from many other countries given the fact that the Russian market will become more competitive due to the reduced customs tariffs. On the other hand, this Free Trade Agreement will cease to exist when Serbia enters the EU membership.

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