Brussels, 02/09/2013 (Agence Europe) - The stabilisation and association agreement (SAA) between the European Union and Serbia came into force on 1 September. According to the European Commission, the SAA defines the rules for a comprehensive partnership which, in particular, will favour free trade between Serbia and the EU - with the gradual liberalisation of workers and capital inter alia. The SAA results in the implementation of a “much more complete formal institutional structure” - which covers trade and related issues, political issues, justice and home affairs, innovation, research, social policy, transport, the environment, energy, regional development, electronic communications and the media. The agreement is also due to help Belgrade implement European standards in the areas of state aid and competition rules, intellectual property, public procurement, and consumer protection. Negotiations on the SAA began in November 2005 and concluded in April 2008. The agreement was then ratified by the member states and Serbia.
The SAA's entry into force is “a milestone in Serbia's path towards the EU … Serbia now has a comprehensive framework in place to move closer to the EU and to prepare for its future participation in the single market”, according to Commissioner for Enlargement and European Neighbourhood Policy Stefan Füle in a press release.
The interim agreement, which entered into force in February 2010, enabled a 4.8% increase in Serbian exports to the EU over the first 11 months of 2012, and a 9.2% increase in its imports from the EU, the Commission stated. The trade surplus in agricultural products with the EU rose from €200 million in 2009 to nearly €500 million in 2011, the Commission added. (CG/transl.fl)