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EU largest foreign trade partner of Serbia
Belgrade,
14 March 2008
Serbian Minister of Trade and Services Predrag Bubalo said today at the inaugural session of the Trade Committee of the Chamber of Commerce that Serbia’s main foreign trade partner is the European Union, where 50% of Serbia's total exports go.
According to volume of foreign trade, next are the markets of countries that signed the CAFTAN agreement, and then the Russian market, which is very important potentially for Serbia, the minister said and added that the percentage growth of exports and imports which Serbia is recording on the Russian market is very optimistic.
He said that trade had a significant share in the growth of Serbia's GDP, which in the past four years has grown at the rate of 7%.
One of the main generators of GDP growth last year was trade, which accounted for 20% of growth.
Speaking about the results of the work of the Ministry of Trade and Services, Bubalo said that the Ministry adopted many laws, that changes and amendments were made to some laws, and that some others are in preparation.
He explained that so far the Ministry of Trade and Services has been in charge of the internal market, but that it proposed that after the new government is set up, foreign and internal trade be accredited to one single ministry since trade policy must be tailored in one place.
He explained that so far the Ministry of Trade and Services has been in charge of the internal market, but that it proposed that after the new government is set up, foreign and internal trade be accredited to one single ministry since trade policy must be tailored in one place.
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