Serbian Minister of International Economic Relations Predrag Bubalo headed the Serbian government’s delegation in negotiations between the Zastava Group and Italian carmaker Fiat regarding their debtor-creditor relations. The two sides reached an agreement which stipulates that 72.5 percent of Zastava’s €41.5 million debt will be written off, while the rest will be paid off from revenues collected after the company’s subsiduaries are privatised, the Ministry of International Economic Relations said in a statement.