China to impose FTA tariffs on Serbian imports

China will implement tariffs it has pledged as per a free trade agreement (FTA) with Serbia that will come into effect as of July 1, 2024, the Customs Tariff Commission of the State Council said on Thursday.

The commission anticipates that the FTA will stimulate bilateral trade and investment co-operation, fostering a deeper partnership between China and Serbia.

China will eliminate tariffs on certain Serbian imports, including electric generators, motors, tires, beef, wine, and nuts. In October 2023, China signed its 22nd FTA with Serbia, marking its first FTA with a central or eastern European country.

This agreement strengthens economic ties between China and Serbia, making Serbia China’s 29th global free trade partner.

Attribution: Xinhua