Minister: Serbia welcomes Russian capital

Minister: Serbia welcomes Russian capital

“Taking into account the major deficit recorded in the trade, we are not satisfied, since exports to Russia stood at meager US$ 311mn,” he said.

According to Bubalo, Serbia’s chance to increase the value of its exports to Russia lies in construction and food industry.

“We have to penetrate markets beyond Moscow, in other Russian regions,” he  stressed.

Bubalo said that Serbia welcomes Russian participation in the privatization of the Serbian oil monopoly NIS, Jat Airways, construction of gas pipelines and underground storage for natural gas, leaving the possibilities open for investing in the Danube ports, and a cargo center at the Belgrade airport.

Russian Minister for Emergency Situations Sergei Shoigu, who visited Serbia Friday, said that for the first time in the past 15 years, the trade between Russia and Serbia exceeded the US$ 2bn mark.

Russia is interested in promoting economic cooperation, he also said, adding that Russian investors have particularly targeted the Serbian oil industry, transportation, metallurgy, banking and tourism.