The European Union will sign with Serbia on Thursday an agreement for the trading of textile products. With this agreement, the Serbian industry will have the possibility to increase its placement of textile products several times over on the EU market, an industry which brought in about 156 million dollars last year.

The agreement should take effect on May 1 and will be the first agreement that Serbia has made with the EU following the framework of the two-way track plan for European integration. The agreement calls for the cancellation of all customs taxes and limits on the amount of products that can be exported and imported, although Serbia will keep a customs charge on the import of goods for three years, which will periodically be decreased before it is fully abolished.