Serbia and Russia could agree on quota on Fiat exports

Article by Christian A., on October 19, 2014

Serbia could agree with Russia to place a quota on locally made Fiat cars exported to its neighbor, according to Serbian Prime Minister Aleksandar Vucic. Since a free trade pact between the two countries exclude autos, Serbia exports to Russia carry high customs duties.

Serbia’s request to include autos in the free trade agreement to locally made cars more competitive in Russia has so far fallen on deaf ears. Vucic announced the good news during a recent visit by Russian President Vladimir Putin to Belgrade.

“We will have a certain possibility to export a quota of Fiat (cars)." Fiat currently operates manufacturing site in Kragujevac, Serbia, which commenced producing Fiat 500L in July 2012 for export to the European Union and United States.

At the start of the meeting with Vucic, Putin remarked that taking into account Russia’s good ties with Italy, they could agree over export quotas to his country.

Once autos are included in the free trade agreement, Serbia’s currently struggling economy could receive a huge lift as it is driven largely by Fiat’s exports to other country. Fiat suspended production at its Kragujevac site for several days in September to adjust to weak demand in the Europe. [source: Reuters.com]

Topics: russia, fiat, export

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