A Step Toward Free Trade of Serbia and China, Full Implementation from Next Year – First Memorandum Signed

The minister of domestic and foreign trade of Serbia, Tomislav Momirovic, signed the Memorandum of Understanding, marking the formal beginning of the negotiations on free trade between Serbia and China, with the minister of commerce of China, Wang Wentao, today.

Momirovic, who is on a visit to Beijing, pointed out that the economic relations of the two countries were at an extremely high level and that Serbia was an important strategic partner of China in the Western Balkans.

– This is another big step in further strengthening of our economy – the minister said and added that, ten years before, the exports to China had amounted to USD 6 million and that, in 2022, it had amounted to USD 1.3 billion.

He pointed out that one of the main tasks in the coming period was to realize the free trade agreement, whereby Serbian companies would get new opportunities in the market of China, while, on the other hand, Chinese companies would achieve an even greater success in Serbia.

The minister said that, for 2024, with the implementation of the agreement, Serbian exports were expected to exceed USD 2 billion, which would be a true success.

With the signing of the Memorandum of Understanding, which marks the formal beginning of the negotiations on free trade between Serbia and China, Momirovic ended his three-day visit to China.

Ministarstvo unutrašnje i spoljne trgovine Republike Srbije

Ministry of Domestic and Foreign Trade

Tomislav Momirovic

Wang Wentao

free trade agreement of Serbia and China

memorandum of understanding