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The Government of the Republic of Serbia

In the service of citizens

Serbia-Montenegro approaching the EU and speedier access to WTO as priorities

Belgrade, 31 January 2005

Serbian Minister of International Economic Relations Milan Parivodic said today that the basic goals of the Ministry in 2005 are for Serbia-Montenegro to get closer to the EU and for a speedier entrance to the World Trade Organisation (WTO).

Parivodic told a press conference, held to mark his first 100 days of office, that one of the priorities of his Ministry in 2005 is luring foreign investments worth €1 billion.

According to Parivodic, reduction of the foreign trade gap and making a more favourable business climate are also priorities on the way to help turn Serbia into a competitive market with more investments coming when compared to neighbouring countries, Bulgaria, Romania and Croatia.

Presenting the 2004 results, Parivodic said that the value of donations amounted to €223 million whereas €394 million were approved in loans.

He said that in 2005, the level of donations is expected to remain the same while the value of loans will increase.

A great success was achieved in the formation of a Southeastern European free trade zone, with its centre in Serbia-Montenegro, the Minister said. This region, which includes Romania, Bulgaria, Bosnia-Herzegovina, Croatia, Albania, Macedonia and Moldova, boasts some 60 million consumers, Parivodic said.

Assistant Minister for multilateral cooperation Dusko Lopandic said that membership in the WTO is an economic precondition for EU accession talks, adding that WTO General Council will make a decision on Serbia and Montenegro’s separate entrance in the WTO.

Talks on liberalisation of our trade regime with WTO members are due to start by the end of this year, Lopandic said, noting that if everything goes as planned, we can expect WTO membership in the near future.