US Congress restores Serbia's prefertial trade status

The US administration decided to restore Serbia’s most-favored nation status as of April 22, allowing customs-free exports of some 5,000 products to the end of the year 2020, the Serbian Customs Administration said on Tuesday (April 3).  

The Generalized System of Preferences which the US Congress approved expired on December 31, 2017 forcing Serbian exporters to pay customs on goods which were customs-free earlier. The decision to restore the preferential trade status is retroactive and the US Customs Service will pay back the duties charged between January 1 and April 22, the statement said.  

Serbia is classed as a developing country under the Generalized System of Preferences.  

Serbian companies exported goods worth 258 million Dollars to the US in 2017.