Serbia lifts restrictions on importing sunflower oil from EAEU - EEC

MOSCOW. March 10 (Interfax) - Serbia has notified the Eurasian Economic Commission (EEC) about lifting the restrictions on importing sunflower oil and fat-containing products from the Eurasian Economic Union (EAEU) countries, the EEC said in a press release.

Nenad Popovic, Serbian government minister responsible for developing relations with the EAEU, initiated lifting the restrictions in response to an appeal from the EEC.

"The issue had been under consideration by the commission since April last year as part of working on implementing the free trade agreement between the EAEU and Serbia. The topic was specifically raised during a meeting with Nenad Popovic in September," EEC Trade Minister Andrei Slepnev was quoted as saying in the press release.

Slepnev said that lifting the restrictions reflects constructive interaction and emphasizes the positive development of trade and economic collaboration between the parties.

Exports of sunflower oil and margarine from the EAEU to Serbia dropped 40% year-on-year in the first 10 months of 2024 following implementation of the restrictive measures in March 2024. The figure had jumped approximately fivefold year-on-year in the same period in 2023.