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Austria, Serbia to intensify economic relations
Belgrade/Vienna,
27 February 2006
Serbian Minister of International Economic Relations Milan Parivodic said that today in Vienna a Memorandum of Understanding between the Serbian Ministry of International Economic Relations and the Austrian Federal Ministry of Economics and Labour was signed which envisages intensification of bilateral economic relations of the two countries.
Milan Parivodic
Minister Parivodic said in a statement to the Serbian government's official website that the Memorandum sets good foundation for close cooperation of the two countries, adding that the Memorandum was signed on behalf of Austria by Minister of Economy and Labour Martin Bartenstein.
This agreement is of great importance for both countries, because the Austrians are currently one of the major investors in Serbia in view of the fact that Austria has so far invested over €1 billion in our country, Minister Parivodic said. He added that trade exchange between Serbia and Austria has reached approximately $400 million.
Parivodic said that it was also decided that on April 24 an agreement will be signed on avoiding double taxation, which is of great significance for encouraging investment in Serbia. He stressed that another very important fact is that Austria, which currently holds the EU presidency firmly supports the integration of the entire West Balkans into the EU.
He explained that Austria supports Serbia-Montenegro's fast accession into the EU and the World Trade Organisation. He added that he expressed his expectation in Vienna that the unique agreement on a free trade zone in the West Balkans is signed as soon as possible, and the idea was welcomed by Austrian representatives.
Parivodic informed Austrian representatives, headed up by Minister Bartenstein, on successes achieved in reforms which have been implemented in the Republic of Serbia.
This agreement is of great importance for both countries, because the Austrians are currently one of the major investors in Serbia in view of the fact that Austria has so far invested over €1 billion in our country, Minister Parivodic said. He added that trade exchange between Serbia and Austria has reached approximately $400 million.
Parivodic said that it was also decided that on April 24 an agreement will be signed on avoiding double taxation, which is of great significance for encouraging investment in Serbia. He stressed that another very important fact is that Austria, which currently holds the EU presidency firmly supports the integration of the entire West Balkans into the EU.
He explained that Austria supports Serbia-Montenegro's fast accession into the EU and the World Trade Organisation. He added that he expressed his expectation in Vienna that the unique agreement on a free trade zone in the West Balkans is signed as soon as possible, and the idea was welcomed by Austrian representatives.
Parivodic informed Austrian representatives, headed up by Minister Bartenstein, on successes achieved in reforms which have been implemented in the Republic of Serbia.
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