Legislative News

Law on confirmation of the Convention on the Control and Marking of Articles of Precious Metals with annexes I and II

Law on confirmation of the Convention on the Control and Marking of Articles of Precious Metals with annexes I and II was published in “Official Gazette of RS – International treaties”, No. 4/20 from March 5, 2020 and will enter into force on March 13, 2020.

The enactment of this law created the preconditions for the full membership of the Republic of Serbia in the Convention on the Control and Marking of Articles of Precious Metals (hereinafter: the Convention).

The Convention is a multilateral international treaty concluded to date by 20 states and in which RS as an applicant state currently has observer status.

The full membership of the Republic of Serbia in the Convention will contribute to the reduction of the cost of exporting precious metal articles, as there will be no obligation for additional testing and/or hallmarking abroad for items marked with the CCM (Common Control Mark) stamp in the Directorate of Measures and Precious Metals. This increases the competitiveness of domestic producers of precious metal articles on the foreign market, which is of particular importance, given that this activity is predominantly performed by micro and small enterprises in the Republic of Serbia.

The gaining of full membership of RS in the Convention will enable precious metal articles that are marked with the Convention mark and which have the prescribed degree of fineness, can be placed on the market of the Republic of Serbia without further testing or marking.