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The Government of the Republic of Serbia

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Government to enable Comico Oil’s investment in Smederevo

Belgrade, 9 July 2012

Minister of Economy and Regional Development Nebojsa Ciric today stated that talks on Serbia’s membership in the World Trade Organisation (WTO) are drawing to an end, voicing his hope that they will be concluded at the end of 2012 and that in 2013 Serbia will become a WTO member.

Author: Fonet

Following the opening of the 24th regional course of the UN Conference on Trade and Development (UNCTAD), Ciric recalled that talks on Serbia’s WTO membership have been under way for two years.

They were slowed down by Ukraine because it demanded free export of steel to Serbia, which Serbia could not allow, he explained.

There is another matter that has to be resolved in our relations with the United States, the Minister said adding that once the talks with other WTO members are concluded, an agreement will be reached with the United States as well.

Ciric noted that the Serbian government must invest efforts to enable the realisation of Comico Oil’s investment in the Smederevo Oil Refinery.

Representatives of the government and the local self-government made a huge effort to help investors invest their funds in Serbia, he added.

The Minister expressed the hope that this investment will be realised, given its importance for Smederevo.

Speaking about the Smederevo steelworks, he said that the government will conduct negotiations with potential strategic partners in order to start production with lower input costs of steel production.

Ciric said that the aim of the government is to ensure continuity of production and jobs.

Given that the second blast furnace in the steelworks is in silent mode since September, talks will be led in the coming weeks with trade unions on how to more easily overcome emerging problems, he said.

The main topic of the course are key issues in international economy for countries in transition.

UNCTAD is an organ of the UN General Assembly founded in 1964 with the aim of enhancing the process of integration of developing states in the global economy, most notably the international trade system.

Serbia is hosting the UNCTAD regional course for the second time. This year, the course will last until 27 July.

Ciric stressed that the idea of this meeting is to gather representatives of the Serbian public administration and that of other countries which deal with international economy and trade, and to share practical first-hand experience.

He added that there is a proposal to continue this type of courses and trainings every year, in cooperation with UNCTAD.

The Minister said that the organisation of this course in Serbia is a form of continued cooperation with the UNCTAD, which has extensive experience and significant role in raising the technical capacity, education and technical assistance.

Attending the course are representatives of ministries and government institutions, as well as partner universities from Azerbaijan, Belarus, Bulgaria, Montenegro, Croatia, Bosnia, Kazakhstan, Kyrgyzstan, Macedonia, Russia and Ukraine.