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The Government of the Republic of Serbia

In the service of citizens

Serbia, Moscow sign Memorandum of Cooperation

Belgrade, 26 May 2004

Serbian Minister of Trade, Tourism and Services Bojan Dimitrijevic and Moscow Mayor Yuri Luzhkov signed today in Moscow a Memorandum on Trade and Economic Cooperation between the governments of Serbia and Moscow. Cooperation in a number of economic fields implies exchange of business information and holding of various manifestations important for both states.

Upon the signing of the Memorandum, a joint expert group for the Memorandum's implementation held its first working meeting, read a statement by the Ministry. The expert group agreed to enhance cooperation in the fields of industry, technology, transport, trade, utility services, support to small and medium-sized enterprises, health, tourism, environment, and other fields of mutual interest.

The Memorandum envisages cooperation in creating favourable conditions for investment in both countries, as well as in the realisation of projects of opening a Serbian department store in Moscow and a Russian department store in Belgrade.

As part of business cooperation, the opening of companies with foreign capital share will be encouraged, as well as establishing of direct business ties between enterprises and other legal entities and associations from Serbia and Moscow. The Memorandum also envisages holding of roundtables, seminars, conferences, exhibitions, fairs and other manifestations.

In a number of bilateral meetings, Minister Dimitrijevic stressed that the Serbian government is committed to improve economic and political relations between the two friendly countries, which were not at its best in the previous years.