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The Government of the Republic of Serbia

In the service of citizens

Decision on one-off assistance to Serbia from Hellenic Plan expected on December 1

Belgrade, 23 November 2006

Serbian Minister of International Economic Relations Milan Parivodic said this evening that the Greek government will announce a decision on December 1 regarding the approval of non-repayable funds worth €100 million to Serbia for the construction of the highway from Leskovac to the border with Macedonia.

Author: Fonet

Speaking at a press conference held by the Greek-Serbian Business Council, Parivodic stressed that the construction of this part of the highway which is 80 kilometres long, and is part of the European transport Corridor 10, is worth €450 million.

He said that the rest of the funds required for this highway will be secured by the Serbian government. He added that construction could begin as early as the middle of next year. According to Parivodic, the road from Leskovac to the Macedonian border could be completed in three years.

Parivodic recalled that during the previous five years, Greek investors invested $1.8 million in Serbia, due to which they are at the top on the list of foreign investors.

The Minister pointed to the fact that external trade between Serbia and Greece grew by 30% this year against the previous year. He added that, according to the data of the Ministry of International Economic Relations, this growth could significantly increase if opportunities for cooperation in the sectors of energy, infrastructure, production of food and tourism were used.

According to Parivodic, 80 Greek companies are doing business in the Serbian market, and 150 more have joint investments with domestic firms.

Speaking on problems which significantly obstruct business between Greek and Serbian companies, Parivodic mentioned double taxation, and explained that thus far there has been no progress regarding the matter because conducting bilateral talks was the jurisdiction of the former state union.

Parivodic said that by adopting the legal framework the mandate should be taken by the Serbian government. He added that he expects negotiations on the matter to continue in May next year, or even a couple of months earlier if everything goes according to plan.