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The Government of the Republic of Serbia

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Representatives of Goldman Sachs to visit Serbia on 24-25 July

Belgrade, 23 July 2013

The Ministry of Energy, Development and Environmental Protection stated that a delegation of Goldman Sachs, the world’s leading investment bank, will visit Serbia on 24-25 July to discuss investment opportunities and projects in Serbia.

The host of the Goldman Sachs delegation will be Minister of Energy, Development and Environmental Protection Zorana Mihajlovic, and representatives of the company will also meet with First Deputy Prime Minister Aleksandar Vucic.

The delegation is also scheduled to meet with Minister of Agriculture, Water Management and Forestry Goran Knezevic, representatives of the Ministry of Foreign and Internal Trade and Telecommunications, the Commodity Reserves Directorate, as well as with the leadership of Transnafta and companies for production of corn Zita Srbije and Zita Vojvodine.

In addition, the Goldman Sachs delegation will visit the mining and metallurgical complex RTB Bor, where they will learn about the business activities of this company and the planned development projects.

One of the main topics of the talks will be the establishment of mandatory reserves of oil derivatives in Serbia and a possible re-capitalisation of RTB Bor.

The delegation that will come to Serbia includes Director for Emerging Markets at Goldman Sachs Office in New York Riyadh Yusuf, Director for Goods at the International Affairs Office in London David Gallagher and Director for Local Business of Customers in Emerging Markets at London Office Leor Seder.

The arrival of Goldman Sachs will be the first visit by a big international investment bank to Serbia following the decision of the European Council to start negotiations on EU accession with Serbia by the end of January.

Minister of Energy, Development and Environmental Protection Zorana Mihajlovic said regarding this visit that the decision of the Serbian government to focus on the development of the economy, consolidation of public finances, restructuring of state-owned companies and job creation did not pass unnoticed in foreign business circles and the result of this is the arrival of the delegation of Goldman Sachs to Serbia.

Mihajlovic met with a delegation of this investment bank in Belgrade on 6 June, at the initiative of Goldman Sachs representatives who were interested in the projects presented in the book of priority projects in the field of energy and environmental protection.

The Goldman Sachs Group is a multinational investment bank that does business in the fields of banking, securities, investment management and other financial services.

It employs 30,000 people around the world and is currently first-ranked in terms of net income in the investment sector in the world.

In 2011, the Goldman Sachs Group generated the net profit of $2.5 billion, it is added in the statement by the Ministry of Energy, Development and Environmental Protection.