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The Government of the Republic of Serbia

In the service of citizens

International Capital Market Seminar begins

Belgrade, 26 February 2007

Serbian Minister of Trade, Tourism and Services Bojan Dimitrijevic opened today in Belgrade, the International Capital Market Seminar titled “Capital Markets Programme”, which will last until March 2.

Author: Fonet

Dimitrijevic said on the occasion that the seminar in intended for experts who work in the financial services sector, in order to keep them well informed regarding modern principles of the functioning of capital markets, their structure and instruments, as well as regulations and control mechanisms for protection of investors.

He said that the total value of trade on the Belgrade stock exchange in 2006 exceeded €1.2 billion, which is an increase of 108% against the previous year.

The Minister explained that this growth was mostly due to share trading, worth €1 billion, which on an annual level is an increase of 123%, and is the largest level of growth seen in share trading on the Belgrade stock exchange ever.

According to Dimitrijevic, the growth of market capitalisation on the Belgrade stock exchange in 2006 was well over 37%, which shows the positive and further expected development of the Serbian financial market.

The best results in the process of reforms during the previous years were realised in the banking sector, said Dimitrijevic and pointed to the fact that the share of foreign capital in the total baking sector of Serbia is more than 76%, including six foreign Greenfield investments in that area.

The Minister stressed that privatisation of the banking sector encourages the development of the capital market and contributes to the economic growth of the country.

The seminar on capital markets has been organised by the Belgrade Banking Academy, in cooperation with the US National Association of Securities Dealers (NASD), the International Capital Markets Association (ICMA) and the University of Reading in the UK.