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Energy sector offers big opportunities for cooperation with Sweden

Belgrade/Stockholm, 15 June 2005

Serbian Minister of Energy and Mining Radomir Naumov said today that there are big opportunities for cooperation with Sweden in the energy sector, both in power and mining industries.

Radomir Naumov

Naumov, who is heading a delegation of the Serbian Ministry of Energy and Mining and a delegation of Serbian businessmen on their visit to Sweden, said that Sweden has made successful reforms in the energy sector and assessed that this country can serve as an example to Serbia’s energy sector.

In a statement to the Tanjug news agency, the Minister said he expects that the Nordic Investment Bank (NIB), which has recently signed an agreement on financing projects in infrastructure and environmental protection with Serbia under relatively favourable terms, will watch over future joint projects between Serbia and Sweden.

The Minister pointed out that it is of particular importance that in this agreement there are no prerequisites to cooperation that are set by other financial institutions, or other countries in relation to the energy sector.

Naumov recalled that the aim of the meetings between the Serbian delegation and their Swedish colleagues is to create possibilities for future cooperation based on the previously signed Memorandum of Understanding on cooperation between the two countries’ energy sectors. More active participation on the part of Serbian companies in investment projects in the region and in third markets will be emphasised, he added.

The Minister explained that Serbia, together with Swedish companies with which it has already cooperated, aims to take part in projects not only in Serbia but also abroad, and recalled that Serbia’s advantage is the free trade agreement it has signed with Russia and Ukraine.

The Minister announced that an agreement on the energy union of southeastern European countries, which is to join the EU market, will be signed in September, thus creating a Pan-European energy union.

The Serbian delegation visiting Sweden also includes representatives of Serbia’s largest energy companies, the Serbian electric power company (EPS), the Energoprojekt construction company, the Mihajlo Pupin Institute and the Nikola Tesla thermo-electric power plant.