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The Government of the Republic of Serbia

In the service of citizens

Opportunities for Serbian companies in Moscow

Belgrade/Moscow, 27 February 2008

Serbian Minister of Trade and Services Predrag Bubalo expressed gratitude today in Moscow, on behalf of the Serbian government, to the Russian people, government and Russian President Vladimir Putin for the principled policy regarding Serbia’s territorial integrity.

Speaking at the third session of the expert working group for trade and economic cooperation between Serbia and Moscow, Bubalo recalled the statement by Russian First Deputy Prime Minister Dmitry Medvedev which he made in Belgrade that political support for the Serbian people should be provided together with economic help.

Bubalo said that the market in Moscow presents huge opportunities for Serbia and added that the large number of Serbian businesspeople attending the session shows that they are interested in intensifying cooperation.

The Minister said that during the previous two to three years good results were achieved in cooperation between Serbia and Russia, a satisfactory upward trend in Serbian exports and the agreement reached regarding the important question of the debt of the former Soviet Union towards former Socialist Federal Republic of Yugoslavia, which has helped the economic development of both countries.

Bubalo explained that the basis for strengthening cooperation will be expanded also by the agreement on energy cooperation in the oil and gas industries signed between Serbia and Russia.

According to Bubalo, it is necessary to continue with the liberalisation of the regime in the free trade agreement since there are groups of products which Serbia could export but they are still subject to customs.

Serbian Minister of Agriculture, Forestry and Water Management Slobodan Milosavljevic said that from 2004 to the end of 2007 the export of agricultural products to Russia, particularly to Moscow, increased threefold, from $26 million to more than $90 million.

Milosavljevic pointed out that Serbia can deliver several hundreds of tonnes of products, including fruit, vegetables, crops, meat and dairy products, and noted that products including wine, beer, some juices, confectionery products and chocolate face customs restrictions for export to Russia.

Co-president of the expert working group for cooperation between the Serbian government and Moscow Mihail Visegorodcev said that Serbian pharmaceutical and food companies have great potentials and noted that 31,000 tonnes of food are consumed daily in Moscow.

The conclusions drawn from the meeting today will be presented at a meeting of Serbian government representatives with Moscow Mayor Yuri Luzhkov.

The Serbian delegation also included Belgrade Deputy Mayor Radmila Hrustanovic and president of the Serbian Chamber of Commerce Milos Bugarin, as well as representatives of Ikarbus, Trayal, Simpo, Napred, Lagado, Hemofarm, Tarkett and Agrobanka.