Serbia Expects To Boost Exports To EAEU By 50% After Signing FTA - Deputy Prime Minister

Muhammad Irfan Published August 28, 2019 | 01:28 PM

Serbia is planning to increase exports to the members of the Eurasian Economic Union (EAEU) by 50 percent following the signing of a free trade agreement with the bloc, Serbian Deputy Prime Minister Rasim Ljajic told Sputnik

BELGRADE (UrduPoint News / Sputnik - 28th August, 2019) Serbia is planning to increase exports to the members of the Eurasian Economic Union (EAEU) by 50 percent following the signing of a free trade agreement with the bloc, Serbian Deputy Prime Minister Rasim Ljajic told Sputnik.

According to the prime minister, Serbian exports to the EAEU members amounted to $1.1 billion in 2018.

"Our plan is to increase our exports to the market of the EAEU members to $1.5 billion and I am sure that our producers will use this chance provided by the state," the prime minister said.

He added that the free trade agreement was expected to be signed on October 25, and that it would allow Serbia to trade with new partners such as Armenia and Kyrgyzstan.

On August 9, Russian Prime Minister Dmitry Medvedev called for the acceleration of the signing of EAEU free trade agreements with Serbia and Singapore.

The EAEU was created in 2014 by Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan with the goal of creating a single market and facilitating economic relations between the member countries.