SIDOLI: Application of CEFTA has negative effect on domestic cigarettes

The General Manager of the Tobacco Factory in Niš (DIN), Euđenio Sidoli, said that "the application of CEFTA Agreement will have negative effect on domestic production of cigarettes".

- We expressed our concern to the Government of Serbia and we expect that it will take all necessary steps before the ratification of the agreement in June 2007, so that the negative consquences could be prevented - said Sidoli.

These steps relate to the excise policy, customs rates and purchase of domestic tobacco for the sake of the compensation for the damage caused by the application of the established rules of the game. Sidoli said that "Philip Moris" agreed to come to Serbia for tax stimulations, but it also accepted expensive obligations related to investments and social program.

- The rules of the game will be changed three years earlier than the contract between the State and "Philip Moris" stipulates, which will be reflected in the investment plans of the company, depending on the outcome of the expected changes - Sidoli pointed out.

Philip Morris operations a.d. Niš

Vlada Republike Srbije

Euđenio Sidoli

CEFTA

cigarette