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The Government of the Republic of Serbia

In the service of citizens

Serbia, Slovakia sign memorandum on economic and trade cooperation

Belgrade, 29 March 2006

The First sitting of the Mixed commission for economic cooperation of Serbia-Montenegro and Slovakia wrapped up today in Belgrade with the signing of the Protocol and the Memorandum on cooperation between the agencies for investment and export promotion of the two countries (SIEPA and SARIO).

Jirko Malcharek, left, and Predrag Ivanovic

Author: Beta

The Protocol and the Memorandum were signed by Serbia-Montenegrin Minister for International Economic Relations Predrag Ivanovic and Slovakian Deputy Prime Minister and Minister of Economy Jirko Malcharek, as well as by the directors of the Serbian and Slovakian investment and export promotion agencies, Jasna Matic and Milan Jaruska respectively.

Ivanovic said that there are numerous possibilities for improving trade and economic cooperation between Serbia-Montenegro and Slovakia, especially through cooperation of companies in the field of production, transfer of know-how and joint ventures.

Ivanovic recalled that the Mixed commission was formed by an agreement signed on October 5, 2005 and added that regardless of trade balances between the two countries achieved so far, the potential for improving economic relations is much bigger.

Basic potentials exist in the fields of infrastructure, energy and mining, agriculture, industry and health, Ivanovic said. He explained that the Protocol defines the ways of using those potentials and that the next year the results achieved will be examined at the sitting in Bratislava.

Malcharek pointed to the fact that economic cooperation between the two countries achieved so far has not been successful enough and voiced hope that the level of trade, which in 2005 stood at $187 million, will be improved.

Jasna Matic highlighted that by signing this Memorandum, Serbia acquires possibilities for promoting its companies in Slovakia more than it used to do, which is of great importance both for trade and for investment in Serbia.