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Presidential election results to influence foreign investment
Belgrade,
28 May 2004
The results of the forthcoming presidential election will influence the inflow of foreign investment, Serbian Deputy Prime Minister Miroljub Labus told a meeting at the Serbian Chamber of Commerce yesterday.
Foreign companies will not invest in Serbia unless the country elects a democratic president, said Labus, adding that the state must also eliminate constitutional obstacles preventing foreign investors from purchasing land in Serbia.
He also called on local authorities to help attract and retain foreign invest, and noted that relevant international organisations are currently assessing Serbia’s creditworthiness.
Serbia would lose its preferential treatment in the European Union market it if increased customs duties, said Labus, stressing that the EU has allowed duty-free exports for nearly 97 percent of Serbian goods. In order to keep the preferential treatment of its goods, the country will have to introduce other measures to help local companies become competitive in the EU market, he added.
Serbia’s foreign trade gap widened 13 percent following trade liberalisation in 2001, the Deputy Prime Minister said, adding that the deficit rose a further 45 percent following the adoption of the Action Plan for economic harmonisation with Montenegro in 2003.
Serbia cannot reduce tariffs for 56 agricultural products, which it has yet to harmonise with Montenegro, said Labus, adding that the country has proposed a second solution to both Brussels and Montenegro.
He also called on local authorities to help attract and retain foreign invest, and noted that relevant international organisations are currently assessing Serbia’s creditworthiness.
Serbia would lose its preferential treatment in the European Union market it if increased customs duties, said Labus, stressing that the EU has allowed duty-free exports for nearly 97 percent of Serbian goods. In order to keep the preferential treatment of its goods, the country will have to introduce other measures to help local companies become competitive in the EU market, he added.
Serbia’s foreign trade gap widened 13 percent following trade liberalisation in 2001, the Deputy Prime Minister said, adding that the deficit rose a further 45 percent following the adoption of the Action Plan for economic harmonisation with Montenegro in 2003.
Serbia cannot reduce tariffs for 56 agricultural products, which it has yet to harmonise with Montenegro, said Labus, adding that the country has proposed a second solution to both Brussels and Montenegro.
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