In addition to duty-free trade between Member States, the agreement sets the case for the accumulation of the origin of the product, in other words, products exported from Serbia are of Serbian origin when integrated materials come from another CTAE country, From the European Union, Iceland, Norway, Switzerland (including Liechtenstein) or Turkey, provided that these products have been sufficiently processed, i.e. at least 51% of the added value of the product comes from Serbia (if the value added is greater than that of the products used). Serbian Prime Minister Ana Brnabic signed a free trade agreement with the Russian-led Eurasian Economic Union (EAEU) in Moscow on Friday after the EU warned it would closely monitor relations, with Serbia a candidate for EU membership. Negotiated agreement, meetings, fact sheets, circular reports The agreement also provides for tariff concessions for processed agricultural products (Protocol A). Trade in agricultural commodities is covered by three bilateral agricultural agreements between the STATE of EFTA (Iceland, Norway and Switzerland) and Serbia. These agreements provide for substantial concessions on both sides, taking into account the respective sensitivities of the parties. « Serbia should gradually adapt to the EU`s common foreign and security policy. We are monitoring the situation closely and discussing these issues as part of our regular political and commercial dialogues with the Serbian authorities, » Kocijancic said. Brnabic visited Moscow with Trade Minister Rasim Ljajic, who previously told Serbian media in September that it was not a political agreement, but only a trade agreement signed by Serbia with Turkey and ALECE, the Central European free trade agreement.
The EU has trade agreements with these countries/regions, but both sides are now negotiating an update. However, a Spokesman for the European Commission told Euronews that Serbia must withdraw from all existing bilateral free trade agreements before entering the bloc. One study showed that eu trade agreements implemented during the 1993-2013 period « reduced quality-adjusted prices by almost 7%. »  « We must bear in mind that about 83% of our total foreign trade with the EAEU countries is carried out by the Russian Federation, which is why this unique agreement is so important to us, » he continued.