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The Government of the Republic of Serbia

In the service of citizens

$309m surplus in foreign trade with agricultural and food products in first seven months

Belgrade, 4 September 2007

Serbian Minister of Agriculture, Forestry and Water Management Slobodan Milosavljevic said today that in the first seven months of 2007 foreign trade with agricultural and food products recorded a surplus of $309 million.

Slobodan Milosavljevic

Milosavljevic told a press conference that exports amounted to $904 million, which is 43.3% more than in the same period of 2006, whereas imports in the first seven months this year reached $594 million, 19.9% more against the same period of last year.

This means that export-import ratio is 152%, said Milosavljevic and added that no other economic branch has recorded such foreign trade balance.

He expressed expectation that this year’s exports of agricultural and food products could reach $1.5 billion, noting that predominant in exports were sugar, corn, wheat, fruit and vegetables whereas tobacco was mostly imported.

Agriculture and food industry have proven with their results they should be priorities for Serbia, Milosavljevic said and pointed out that these economic branches have largest potentials and with their development Serbia’s exports could double.

The Minister said that this year’s wheat crop is 1.8 million tonnes, or 1.4% less than last year and 16% above the average during the past decade.

According to him, corn yield is expected to be by 27% smaller, sugar beet by 4.5% smaller, sunflower by 20% smaller and soy by 23% smaller against 2006.

Milosavljevic said that estimated damage from this year’s drought is nearly RSD 30 billion and announced that the Ministry will soon present measures to mitigate the consequences of the draught.

The Ministry will insist that water management facilities are treated equally in the National Investment Plan and budget and even to give them priority so as to reduce dependence of agriculture on climate changes, the Minister announced.

He added that millions of euros need to be invested in irrigation systems and it would be ideal to find partners who would agree to a loan in exchange for food.