Eurasian Economic Union to decide on imports of Serbian-made Fiat 500L cars within days

Eurasian Economic Union to decide on imports of Serbian-made Fiat 500L cars within days
By bne IntelliNews March 17, 2016

The council of the commission of the Eurasian Economic Union (EaEU) might decide at a meeting in mid March whether to allow the import of 10,000 Fiat 500L cars, manufactured at the FIAT Chrysler Automobiles (FCA) plant in Kragujevac in central Serbia, Russian ambassador to Serbia, Aleksandar Chepurin said on March 16.

For several years, Belgrade has been trying to start exports of Fiat 500Ls Russia, for which it needed approval from all EaEU countries.

Serbia aims to export Fiat 500L vehicles to the EaEU under a free trade agreement signed with Russia in 2000, which states that goods produced in Serbia which have at least 51% value added in the country are considered to be of Serbian origin and can be exported to the Russia duty free. The Fiat 500L, which is manufactured at FCA Serbia’s plant in Kragujevac, meets these requirements.

On March 16 Tanjug quoted Chapurin as saying that some positive steps towards launching Fiat 500L exports to the EaEU had been taken, but no further information was given.

Chepurin said in an earlier interview with Sputnik that exports to Russia are dependent on approval from the other members of the EaEU, and that for issues related to duty free imports or exports within the EaEU, a consensus is always required.

Serbia is the only country outside the Commonwealth of Independent States that enjoys a free trade agreement with Russia, and has so far resisted EU requests to join the economic sanctions imposed on the country over the conflict in Ukraine.

Related Articles

Fiat workers end 3-week strike that halted production at Serbia's top exporter

Production at the Fiat Chrysler Automobiles (FCA) Srbija factory in Kragujevac will restart on July 19 after workers and Prime Minister Ana Brnabic agreed on the evening of July 18 to end ... more

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

RBI issues €650mn of AT1 hybrid securities

Raiffeisen Bank International (RBI), the second largest bank operating across Central and Eastern Europe by assets, has issued €650mn of perpetual additional Tier 1 capital (AT1). ATI ... more