Friday, 10th October 2025

Serbia Takes Over Presidency of CEFTA for 2024

On 1st January Serbia assumed the one-year presidency of the Central European Free Trade Agreement (CEFTA). 

As announced by the Government, Serbia’s priorities during its 2024 CEFTA presidency will include consolidating and strengthening the implementation of the agreement, facilitating trade in goods and services among CEFTA parties, and advancing digitalization.

Key focus areas will involve piloting joint customs actions, data exchange, working towards mutual recognition of Authorized Economic Operator programs among CEFTA parties, e-commerce, and easing the movement of fruits and vegetables.

Additionally, priorities include reducing trade costs and border waiting times, working on the recognition of professional qualifications, and finalizing the text of a new additional CEFTA protocol on dispute resolution.

For Serbia, participation in the CEFTA, which is based on European Union standards and principles, means improved market access for products and services, reduced trade barriers, and easier business operations at the regional level.

This image has an empty alt attribute; its file name is Serbia-Takes-Over-Presidency-of-CEFTA-for-2024-2.jpg

The CEFTA market is Serbia’s second-largest trading partner in terms of trade volume, export, and import, following the EU.

In the first 11 months of 2023, Serbia had a trade exchange of over 5.5 billion euros with CEFTA parties.

In this exchange, Serbia achieved a trade surplus of more than 2.5 billion euros, mainly due to exports of electricity, grains and their products, oil and oil derivatives, beverages, and road vehicles, with an export-to-import coverage ratio of 260.6%.

CEFTA is a trade agreement between Serbia, Albania, Bosnia and Herzegovina, North Macedonia, Moldova, Montenegro, and the United Nations Interim Administration Mission in Kosovo in accordance with UN Security Council Resolution 1244.

Former members include Poland, the Czech Republic, Slovakia, Slovenia, Hungary, and Croatia, all of which have become members of the European Union.

Have a news tip or story to share? Email us at info@connectingregion.com

Photo sourcemust.gov.rs

Zuckerberg Predicts Mobile Phones Will Disappear by 2030

TThis is inevitable as new technologies like augmented reality (AR) glasses and virtual reality (VR) devices reshape how people...

ProCredit Launches ProConnect Platform

The platform is the first of its kind in the region, offering firms the ability to present their products...

Switzerland Tops Global Innovation Ranking, China Enters Top 10

China has entered the top 10 for the first time, taking the 10th spot and replacing Germany, which fell...

Meta, Google, Microsoft Pay Top AI Experts Up to $300K

Meta, Google, and Microsoft offer top researchers up to $300,000 annually—and up to $1.5M over four years. Meta recently...

World First: Albania Elevates AI to Ministerial Rank

In a world first, Albania has appointed an artificial intelligence system to ministerial rank. Prime Minister Edi Rama announced...
spot_img

Connecting the Adria Region Decision Makers

The Region is more than a publication - it's where the region's elite converge for insights and opportunities