THE UNITED KINGDOM – SERBIA AGREEMENT IMPLEMENTATION

The Partnership, Trade and Cooperation Agreement between the United Kingdom of Great Britain and Northern Ireland and the Republic of Serbia, (UK-Serbia Agreement) was signed on April 16th, 2021 in Belgrade.

The trade part of the UK-Serbia Agreement is based on the provisions of The Stabilisation and Association Agreement between European Communities and their Member States on the one hand, and the Republic of Serbia on the other, adapted to the specificities of the bilateral relationship between the United Kingdom and the Republic of Serbia.

The new Agreement seeks to preserve the ties established within the SAA with the EU, establish a free trade zone, maintain the preferential trade arrangements and provide basis for further trade liberalization.

As a reminder, the provisions of the SAA with the EU in the mutual trade of the United Kingdom and the Republic of Serbia no longer apply since January 1st, 2021, that is, since the expiration of the transitional period for entry into force of the Agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community. Consequently, when it comes to the import of the goods originating from the United Kingdom, full amount of customs and other duties (special customs duties and seasonal duty rates) apply since January 1st, 2021.

Entry into force and the implementation of the UK – Serbia Agreement are prescribed by Article 12 of the Agreement. Temporary implementation of the Agreement is expected to begin 20 of May 2021.

All of the aforementioned conditions the issuing of the new Regulation on Harmonization of the Customs Tariff Nomenclature for the year 2021.