The new protocol with the EU with new benefits for businesses to enter European markets The Government of the Republic of Northern Macedonia, at today's session, at the proposal of the Minister of Foreign Affairs, Bujar Osmani adopted the Decision for early application of the amendments to the Protocol on the origin of goods from The Stabilization and Association Agreement between the Republic of Northern Macedonia and the EU, which provides a legal basis for the application of the revised preferential rules on the origin of goods from the beginning of November 2021.

According to the Ministry of Foreign Affairs, the changes from the new rules for the origin of goods will affect all economic operators and companies in our country that deal with exports. Considering that about 85% of the total exports of Northern Macedonia are made with the EU member states and the 24 countries in the Pan-Euro-Mediterranean zone (EFTA, Turkey, CEFTA, Eastern Partnership countries and Mediterranean countries), these new rules represent a kind of revolution in foreign trade.

Producers in Northern Macedonia will get great opportunities for importing duty-free raw materials from third countries and exporting finished products to the EU, also duty-free. All industries will benefit, but the companies that produce technologically modern products will have the biggest, especially the companies from the automotive industry and the companies in TIDZ. Companies from the food and processing industry will also have great benefits. The new rules for the origin of goods open greater opportunities for companies to provide cheaper raw materials when creating products for these markets, given that this decision abolishes customs duties on raw materials for processing, the Foreign Ministry said in a statement.

Additionally, by reducing the requirement for the percentage of value added from 60 percent to 50 percent as a domestic contribution to the creation of the product, their position in foreign markets is improved, they become far more competitive, but at the same time conditions are created for new foreign investments that receive opportunities. for export to these markets with far improved conditions through these new rules. These rules should facilitate the economic integration of our country in the regional economic market and the consolidation and development of integrated supply chains with the countries in the region that apply the new preferential rules of origin. According to the analyzes made, according to the new conditions of origin, our exports should further increase on an annual basis by 6,3 percent.

There is no doubt that the integration of the Republic of Northern Macedonia towards the European Union, but also the conditions provided by the Government of Northern Macedonia for a favorable climate for development of these relations have a direct impact on the dynamics of development of our economy, industry and our trade relations with the EU. , is added in the statement of the Ministry of Foreign Affairs.

Source: MIA