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EuroAxis, Globex banks sign cooperation agreement
Belgrade,
7 September 2004
Serbian Minister of Trade, Tourism and Services Bojan Dimitrijevic has attended the signing of an agreement on business cooperation between the EuroAxis bank and Globex bank, which is expected to boost trade and strengthen business ties between Serbia and Russia.
Dimitrijevic said the agreement, signed by EuroAxis’ Moscow director Milos Mirkovic and Globex General Manager Anatoly Motilev, represents a continuation of a protocol that was signed during a visit to Moscow by a Serbian delegation earlier this year. Dimitrijevic explained that one of the major problems was resolved then – a $300 million debt, which had been a burden to the two countries’ economic relations.
Mirkovic said the cooperation between the two banks will include joint funding of projects, financing of exports, and mutual acceptance of guarantees and credentials.
He said the agreement is of particular significance to domestic construction firms operating in the Russian market. One of these firms, Austrobal, has already concluded deals totaling $115 million and it employs around 6,000 people from Serbia, said Mirkovic and added that EuroAxis bank cannot meet all their needs due to conditions set by Russia’s central bank with regards to capital requirements. For this reason, the agreement with Globex bank, which has an excellent rating, is of great significance.
Dimitrijevic said that in the next few days, Serbian and Russian firms will hold concrete talks, especially concerning setting up a Russian trade center in Belgrade and building a Serbian department store in Moscow.
The minister also extended condolences to the people of Russia over the tragic consequences of the terrorist attack in North Ossetia, the Tanjug news agency reported.
Mirkovic said the cooperation between the two banks will include joint funding of projects, financing of exports, and mutual acceptance of guarantees and credentials.
He said the agreement is of particular significance to domestic construction firms operating in the Russian market. One of these firms, Austrobal, has already concluded deals totaling $115 million and it employs around 6,000 people from Serbia, said Mirkovic and added that EuroAxis bank cannot meet all their needs due to conditions set by Russia’s central bank with regards to capital requirements. For this reason, the agreement with Globex bank, which has an excellent rating, is of great significance.
Dimitrijevic said that in the next few days, Serbian and Russian firms will hold concrete talks, especially concerning setting up a Russian trade center in Belgrade and building a Serbian department store in Moscow.
The minister also extended condolences to the people of Russia over the tragic consequences of the terrorist attack in North Ossetia, the Tanjug news agency reported.
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