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The Government of the Republic of Serbia

In the service of citizens

Trade between Russia, Serbia worth $4 million

Belgrade, 6 December 2008

First Deputy Prime Minister and Minister of Interior Ivica Dacic today voiced hope that trade between Serbia and Russia will reach $4 million by the end of this year and will double in the following two years.

Following a working breakfast with the Russian economic delegation, Dacic commended the energy agreement reached between Serbian President Boris Tadic and the Russian delegation.

Dacic recalled that at a meeting of the Serbian-Russian mixed committee, held in Moscow, the two sides reached an agreement regarding visa abolition and proposed the expansion of the list of products to be placed in a free trade zone.

The Deputy Prime Minister said that the Serbian and Russian delegation also discussed the realisation of infrastructure projects in Serbia and the reconstruction of the electric power plant Djerdap.

President of the Farman Company Branislav Grujic specified that the two sides discussed the construction of the Belgrade underground, cooperation between Serbian and Russian pharmacists and the promotion of Serbian spa centres.

They also discussed the setting up of a central distributive storage facility for consumer goods near Moscow, reconstruction of the hydroelectric power plant Djerdap, bank cooperation and the possibility of selling domestic banks to Russian financial organisations.

Russian Presidential Envoy Georgy Poltavchenko said that the signing of the energy agreement by December 20 will be proof that Serbia is a hospitable environment for doing business.

He added that economic relations between Serbia and Russia are growing fast.

Poltavchenko announced that the Mayor of Belgrade Dragan Djilas may visit Moscow next week to discuss the construction of the Belgrade underground with Russian partners.

According to him the agreement also includes the reconstruction and modernisation of the Serbian railway system. President of the Bank of Moscow Andrei Borodin said that other Russian financial institutions also consider investing in Serbia.

He said that although the Bank of Moscow altered its working plans due to the global financial crisis, it has still provided first loans and considered investing in Serbian infrastructure.

Borodin announced that the Russian-Serbian business dialogue's second session will be held next May, in Moscow.

The two sides yesterday signed an agreement on the Russian – Serbian business dialogue.

The agreement was signed by President of the PSP Farman Company Branislav Grujic and President of the Bank of Moscow Andrei Borodin. The ceremony was attended by Serbian President Boris Tadic and Prime Minister Mirko Cvetkovic.