Belgrade: Snezana Zubic-Petrovic, Head of the Department for Multilateral and Regional Trade Cooperation at the Ministry of Economy and Regional Development alleged that it is of great significance for Serbia to endorse the CEFTA Agreement before next month (September) to get incorporated in the county and, indirectly, the EU.

In a statement, Zubic-Petrovic emphasized that the initial conference of CEFTA participators will took place in Macedonia by next month, and adding up that nations which do not endorse the accord by then will participate in the conference only as commentators, and not full members.

She also explains that it was ideated that the CEFTA contract should come into force immediately it is sanctioned by at least five nations that have been done as all countries, apart from Bosnia Herzegovina and Serbia, have signed it.

She added that about 32% of Serbia’s overall export and 12% of the total import encompasses trade exchange with CEFTA parties and Serbia is the single country in the Southeastern Europe with a trade surplus.

She also noticed that Serbia has eradicated imposts on all the goods traded with Bosnia and Herzegovina and Macedonia, on the other hand nearly all custom duties have been eliminated for the trade with Moldova apart from customs quotas on eight items.

Customs duty on manufacturing goods in the trade with Croatia and Albania were abolished before time in the year and novel grants will be viewed for agricultural products till May 1, 2009, said Zubic-Petrovic.

She also clarifies that involvement in the CEFTA Agreement eases foreign investments in the country through the synchronization of regularizations with European Union statute law, and the best evidence for that is the conception that all former CEFTA members have already entered the EU too.