“3.5bn dollars in foreign investment”

A 3.5 billion dollars foreign investment income is expected this year, the Foreign Investors Council chairman says.

Izvor: Beta

Friday, 23.02.2007.

15:04

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“3.5bn dollars in foreign investment”

He added that Serbia had not fully utilized its free trade agreement with the Russian Federation, which, although not ratified, was being implemented. Serbian Chamber of Commerce (PKS) president Slobodan Milosavljević said that the agreement would most likely be ratified in the Russian Duma this April.

Milosavljević added that the Danube river traffic, along with the CEFTA agreement, represented a chance to attract foreign investors to Serbia. This year, FIC and PKS plan to issue a “white book”, containing proposals to improve Serbia’s business environment, while a “green book” on the advantages of doing business in the Serbian market will be published for the first time.

Commenting on Philip Morris and BAT demands that the Serbian government provide protection for the companies in light of the harmonization of foreign and domestic tobacco purchase taxes in line with the CEFTA provisions, Kostić said he expected a solution to be found that would satisfy the domestic producers.

BAT representative Mihailo Crnobrnja said that company sought urgent measures that would enable them to make up for the profits lost due to the implementation of new tax policies.

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