Serbia and the UK have signed a new Partnership, Trade and Cooperation Agreement that will ensure £682 million of trade can continue and develop in the years ahead.
The new agreement with Serbia secures continued preferential trade access between the UK and Serbia. These preferential trading terms enable British business to trade as they did before 1 January 2021.
This will offer significant savings for business to support jobs and the wider economy, according to the Government.
As well as looking at existing arrangements, the deal also sets out how the two countries will strengthen political, economic, security and cultural ties, and reaffirms the UK’s support for governance reform in Serbia, to create a competitive business environment.
Serbia has become a major hub for UK manufacturers with Unilever, AstraZeneca, JCB and Jaguar Land Rover opening plants in this flourishing nation.
The new deal was signed by Her Majesty’s Ambassador to Serbia Sian MacLeod and Serbian Minister of Trade, Tourism and Telecommunications Tatjana Matić in Belgrade.
Minister for Exports, Graham Stuart MP, said: “This is great news for businesses in the UK and Serbia, providing certainty and strengthening ties between both countries to drive growth and support economic recovery from COVID-19.
“This agreement will support jobs up and down the country, drive further investment and open up opportunities for our exporters.”
UK Export Finance is now establishing its presence in the region with over £3.5 billion available to finance projects in Serbia, bringing greater value for money from UK supply chains and making large infrastructure projects more competitive than ever before, the Government confirmed.
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