Social Security Agreement between the Government of Serbia and the Government of People’s Republic of China enters into force on February 1, 2021

Pursuant to Article 16, paragraph 2 of the Law on Conclusion and Execution of International Agreements (Official Gazette of RS”, No. 32/13), the Ministry of Foreign Affairs of the Republic of Serbia announced that the Social Security Agreement signed on June 8, 2018 between the Government of Serbia and the Government of People’s Republic of China, would enter into force on February 1, 2021.

The Social Security Agreement regulates the exercise of rights in the following areas of social insurance: (a) in relation to the Republic of Serbia: (i) mandatory pension and disability insurance; (ii) unemployment insurance (b) in relation to the People’s Republic of China: (i) basic old-age insurance for employees, (ii) unemployment insurance. Health insurance is not encompassed with the Agreement. The Agreement provides for equal treatment of nationals of the Contracting States in the exercise of social security rights both in the territory of the country of employment and in the territory of the country of origin.

The Agreement will help avoid double insurance contributions and reduce investment costs of companies of both countries and foster the development of bilateral economic and trade ties, as stated by the signatories.

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