19 April 2021

On 16 April 2021, Minister of Trade, Tourism and Telecommunications of the Republic of Serbia Tatjana Matic and Ambassador of the United Kingdom in Belgrade Sian MacLeod signed a Partnership, Trade and Cooperation Agreement between the Republic of Serbia and the United Kingdom at the Serbia Palace in Belgrade.

The Agreement sets a new legal basis for regulating bilateral trade, which was previously defined by the Stabilization and Association Agreement between the European Communities and their Member States and the Republic of Serbia.

Both sides expressed satisfaction with the successful completion of negotiations and formally ensuring the continuation of successful cooperation in the political and economic spheres.

Minister Tatjana Matic emphasized that the Partnership, Trade and Cooperation Agreement between the Republic of Serbia and the United Kingdom maintained the level of cooperation in all areas, as well as the degree of trade liberalization that existed until 31 December 2020.

"Not only that the signing of the Agreement made it possible to return to regular trade flows and create conditions for further growth of mutual trade in the interest of both countries, as well as for further investments, but it also additionally strengthened the traditionally good relations between our two countries", Minister Matic said expressing an expectation that with the successful implementation of immunization against Covid-19, the previous highly developed tourism cooperation between the two countries would be renewed.

On this occasion, she thanked the United Kingdom in particular for the development assistance it provided to the Republic of Serbia in the previous period.

Ambassador MacLeod emphasized that with the personal support of Prime Minister Boris Johnson and President Aleksandar Vucic, the United Kingdom and Serbia were working together to build a stronger forward looking relationship. Increasing trade and investment was an important part of that ambition.

"This agreement is both a demonstration of our shared commitment to bilateral relations and a practical means to regulate smooth mutual trade in the interests of business and consumers in both our countries. I would like to congratulate the negotiators in both capitals on their efforts. I look forward to the entry into force of this agreement, after all parliamentary procedures have been completed. I also look forward to seeing more British companies and expertise that will provide an additional boost to Serbia’s economic development and progress", the Ambassador of the United Kingdom to Serbia, Sian MacLeod said.

The United Kingdom and Serbia signed the first provisional bilateral trade agreement in March 1879.

Source:www.mtt.gov.rs
Photo:www.mtt.gov.rs