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Bubalo, Shoigu talk about Russian investments in Serbia

Belgrade, 22 June 2007

Serbian Minister of Trade Predrag Bubalo and Russian Minister of Emergencies and Calamity Relief Sergei Shoigu signed today a protocol from the sixth session of the mixed intergovernmental committee for technical, economic and scientific cooperation between Serbia and Russia.

Sergei Shoigu and Predrag Bubalo

Shoigu said that today's meeting was very constructive since after the talks that were held during several years, practical solutions were worked out.

He said that it was agreed that the Agreement on regulating the clearing debt should be implemented further and that the ways of investing into Serbian economy, primarily into energy and transport, were discussed.

Bubalo said that Serbia gives Russia a leading role in fields such as energy and transport so it is logical that cooperation in those fields be the most intense.

Bubalo said that Serbia welcomes Russian participation in the privatisation of the Serbian Oil Industry, Jat Airways, construction of gas pipelines and underground storages of natural gas, leaving the possibilities open for investing in Danube ports, the cargo centre at Belgrade airport and similar.

Bubalo and Shoigu also talked about further liberalisation of goods through the free trade agreement and possibilities for further development of regional cooperation.

The two officials also signed the Protocol of intentions of the open joint-stock company Farmimeks from Russia and the Institute for Immunology and Virology Torlak.