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The Government of the Republic of Serbia

In the service of citizens

Free trade zone agreement to be signed in December

Belgrade/Cavtat, 24 October 2006

Serbian Minister of Finance Mladjan Dinkic said today that the Central European Free Trade Agreement (CEFTA) will be signed in early December this year and explained that CEFTA will increase competition on the Serbian market because it will enable the signatory countries to have free placement of their products in Serbia.

Addressing journalists at a regional financial and investment conference for southeastern Europe held in Cavtat, Dinkic said that the creation of a free market of 55 million consumers is of extreme importance for all countries in the region and it will also enable greater inflow of investments.

According to a rank list made by the most prestigious European magazine in the field of business and finance Euromoney, Serbia holds 93rd place, which is a significant economic step forward, the Minister said.

He explained that Serbia's greatest problem is a high unemployment rate and the unresolved status of Kosovo-Metohija, while the greatest obstacle to a faster regional economic growth is an uneven development of the country.

The sixth regional financial and investment conference for southeastern Europe has been opened today in Cavtat, with the participation of officials and banking experts from Bulgaria, Macedonia, Albania, Croatia, Serbia, Montenegro and Bosnia and Herzegovina.