VUCIC: Low chance of Volkswagen arriving, Serbia doesn't have PEM convention like EU states

Serbian President Aleksandar Vucic believes that the chance of Volkswagen arriving to Serbia is low, “as we don't have the PEM convention, unlike our competitors from the EU”.

He said this at the press conference where it was revealed that the new investor in Serbia in the sector of high technologies would be the German company MTU.

Vucic said that the expectations of Volkswagen's arrival should not be too high, although Serbia would to everything in its power.

The system of Pan-Euro-Mediterranean cumulation of origin allows for the application of diagonal cumulation between the contracting parties. It is based on a network of Free Trade Agreements having identical origin protocols.

Vucic said that the arrival of MTU marked a new beginning for the Serbian aviation industry and that other companies from the sector would follow.

Volkswagen AG Wolfsburg

Volkswagen

Aleksandar Vucic

PEM Convention

EU

car manufacturer

car factory

arrival of Volkswagen to Serbia