Update on the Partnership, Trade and Cooperation Agreement

Update on the Partnership, Trade and Cooperation Agreement

The UK/Serbian Partnership Trade and Cooperation Agreement (PTCA) comes fully into force next week.  It is already making a difference to bilateral trade and reduced uncertainty.  Companies who are shipping goods directly between Serbia and the UK are taking advantage of the resumption of tariff free trade.  

However, for more complex supply chains, the zero rate tariff free terms may not be applicable. We are still working out how much of this is because the PTCA is new and how much is a consequence of its terms.  But, if companies are sourcing more than a small part of the exported product from outside the UK or Serbia or if the product is not shipped directly from the UK/Serbia to the other country then tariffs may still be due. 

We are currently developing ideas on how to improve matters and where we need to intervene.  The BSCC will support our members and work hard to mitigate the impact working with the BCC in the UK and with PKS and FIC in Serbia.  We are extremely keen to hear from any company affected by this whether they export from the UK or from Serbia and are contacting all affected members.

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