Status of the most-favored nation in the US, this fall

Serbian Finance Minister, Mr. Bozidar Djelic, declared yesterday that FRY could be given back the status of the most-favored nation in the commercial relations with the USA. According to the Minister, the procedure has already been initiated in the US, so that the American Congress could vote the status of the most-favored nation during the next fall. FRY is the only country in this region, which still does not have the most-favored nation status, the fact that has serious repercussions on the exportations concurrency, considering the strong US market protection, affirmed Mr. Djelic.

He also pointed out that granting FRY the status of the most-favored nation will mean the suspension of the major part of customs obligations payment for the products coming from FRY, which will enable realization of the „Zastava – Namenska proizvodnja“ (Zastava – specific purpose production) contract for the US market of a total value of 4,5 million dollars, but also the disposal of numerous other products.