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The Government of the Republic of Serbia

In the service of citizens

Further improvement of investment climate in Serbia necessary

Belgrade, 25 October 2006

Serbian Minister of Economy Predrag Bubalo and Minister of International Economic Relations Milan Parivodic attended today together with Coordinator of the Stability Pact for South East Europe Erhard Busek a roundtable organised by the Foreign Investors Council.

A statement by the Ministry of Economy reads that this informal meeting was attended by fifteen representatives of the largest foreign companies and banks that do business in Serbia, as well as ambassadors and representatives of the EU office in Belgrade.

Busek stated that Serbia's economic growth is astonishing and that it is necessary to further improve the investment climate and to continue reforms in Serbia because that is the quickest way to a stronger regional linking as the first step in the European integration.

Bubalo said that the new Constitution and the Serbian Strategy of economic development from 2006 to 2012 are important for further economic growth. The Strategy defines all steps necessary for Serbia to be ready to join the Union.

Representatives of embassies and foreign investors said that the adoption of the new Constitution considerably contributes to removal of the existing barriers necessary for establishing a full market economy, and it also guarantees all economic freedoms characteristic for modern states.

Participants in the meeting welcomed the Serbian government's clear commitment to complete the privatisation process as soon as possible and continue reforms, the statement adds.