(CFP Photo)

As the Free Trade Agreement (FTA) between China and Serbia went into effect on July 1, the Customs Office in Suzhou Industrial Park, a branch of Nanjing Customs, issued the first certificate of origin under the FTA in Jiangsu Province.

Suzhou Samsung Electronics received the certificate for its exports of washing machines valued at approximately 195,000 yuan, which is expected to enjoy reduced tariffs in Serbia.

"We mainly export washing machines and refrigerators to Serbia, and the exports amounted to 1.7 million yuan in the first half of this year," said Tan Meifang, head of the company’s International Trade Department.

Serbia is the first country from Central and Eastern European to sign the FTA with China, becoming China’s 29th free trade partner. According to the deal, which is also the 22nd such agreement for China, tariffs on over 95% of the products from both countries will be gradually reduced to zero.

The bilateral agreement will foster investment cooperation and industrial chain integration, and better leverage comparative advantages to enhance international competitiveness.

According to Nanjing Customs, Jiangsu’s imports and exports to Serbia amounted to 1.43 billion yuan in the first five months of this year, a year-on-year increase of 49%, with electrical equipment and printed circuit boards among the primary exports.