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The Government of the Republic of Serbia

In the service of citizens

2004 will be much better for Serbia in terms of finance and economy

Belgrade, 19 May 2004

The Serbian government's priorities are good regional cooperation and the accession to the European Union, said Serbian Deputy Prime Minister Miroljub Labus at the Fourth Summit of Serbia-Montenegro which is being held at the Hyatt hotel.

Miroljub Labus

Author: Tanjug

Labus said that he visited several neighbouring countries in the past two months. Some of them have already become EU members, and Croatia will get the candidate status on June 17. By supporting the accession of the neighbouring countries, Serbia paves its way too, because cooperation of the Balkan countries is very important for that process.

The Serbian Deputy Prime Minister told the future investors in Serbia-Montenegro that the EU is a future framework in which their investments will be realised. He said that this year will be much better for Serbia in terms of finance and economy, that the GDP growth will be above five percent, that the exports will increase and the fiscal deficit decrease, while the inflation will remain the same.

Labus promised that the Serbian government will eliminate obstacles to financing and continue to improve investment climate. To that end, new legislation will be passed, including the law on registration of economic entities, and the law on registration agency, which will be the new name of the present Solvency Centre of the National Bank of Serbia.

The two-day summit of Serbia-Montenegro has opened at the Belgrade Hyatt Regency hotel, and it will gather top state officials, foreign statesmen, diplomats, businessmen and representatives of foreign companies.

Opening the summit, President of Serbia-Montenegro Svetozar Marovic urged all democratic powers in the country to reach a consensus on common European goals. He called on EU countries to continue cooperation with Serbia-Montenegro, because only in that way these territory can be Europeanised, which will bring lasting political stability and multiethnic peace.

Marovic pointed out that Serbia-Montenegro must understand that it can join international institutions only if it fulfills its obligations towards them. Otherwise, Serbia-Montenegro will only get farer away from Europe and the Partnership for Peace.

He recalled that harmonisation of economic relations of Serbia and Montenegro has been lasting for a long time, and that it is very difficult to explain that we have problems harmonising 56 products to those who harmonised economies of 25 countries. He said that the solution to this problem will finally be found and that the member states will come out with proposals, adding that Serbian Deputy Prime Minister Miroljub Labus and Montenegrin Deputy Prime Minister Miroslav Ivanisevic are working on that.

Marovic stressed that Serbia and Montenegro are obliged to meet their obligations mandated by the Belgrade Agreement, as well as Europe. Otherwise, they will remain in the waiting room of European integrations in next two years as well.