Serbia "needs new deal with IMF, WTO membership"

Trade Minister Rasim Ljajić says it is "very important for Serbia to enter into a new arrangement with the International Monetary Fund (IMF)".

Izvor: Tanjug

Monday, 12.11.2012.

17:09

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BELGRADE Trade Minister Rasim Ljajic says it is "very important for Serbia to enter into a new arrangement with the International Monetary Fund (IMF)". This should be done "with a view to improving the international financial credibility of the country", he said after the opening ceremony for the International Furniture, Equipment and Interior Decoration Fair in Belgrade on Monday. Serbia "needs new deal with IMF, WTO membership" The arrangement with the IMF is also important because of the expert support the country would get and also because of opportunities for soft loans in the future, Ljajic told reporters. Asked whether the Serbian government was ready to meet the requirements set down by the IMF, Ljajic said that it had nothing to do with conditions or ultimatums, but rather with the interests of Serbia. “We need to curb our deficit and expenditures wherever possible. The state has to save money and show it is responsible if it hopes to afford the full right to require others to do the same by being financially rational and frugal,” Ljajic said. An IMF delegation will arrive in Belgrade on Tuesday. Turing to the subject of Serbia's membership in the World Trade Organization (WTO), the minister said that the country "needs to find a way to become a member while at the same time continue to protect itself in terms of trade in genetically modified organisms (GMOs)". "The WTO and the EU are against any restrictive measures regarding the import or export of any product, not just GMOs, while the Serbian law bans the production of GMOs," according to Ljajic. “Our interest is to be part of the WTO, but to retain the ban on GMOs,” Ljajic said. He said that Serbia, like other countries, had the right to place certain restrictions or conditions regarding the importation of GMO foods. In other words, it has the right to take a restrictive approach when it comes to such matters, he explained. Last week, Ljajic said, Laos became the 157th member of the WTO, while Bosnia-Herzegovina should be admitted in June 2013. He expressed confidence that Serbia would be able to find a solution and become a member of the international organization. (Tanjug) Tanjug

Serbia "needs new deal with IMF, WTO membership"

The arrangement with the IMF is also important because of the expert support the country would get and also because of opportunities for soft loans in the future, Ljajić told reporters.

Asked whether the Serbian government was ready to meet the requirements set down by the IMF, Ljajić said that it had nothing to do with conditions or ultimatums, but rather with the interests of Serbia.

“We need to curb our deficit and expenditures wherever possible. The state has to save money and show it is responsible if it hopes to afford the full right to require others to do the same by being financially rational and frugal,” Ljajić said.

An IMF delegation will arrive in Belgrade on Tuesday.

Turing to the subject of Serbia's membership in the World Trade Organization (WTO), the minister said that the country "needs to find a way to become a member while at the same time continue to protect itself in terms of trade in genetically modified organisms (GMOs)".

"The WTO and the EU are against any restrictive measures regarding the import or export of any product, not just GMOs, while the Serbian law bans the production of GMOs," according to Ljajić.

“Our interest is to be part of the WTO, but to retain the ban on GMOs,” Ljajić said.

He said that Serbia, like other countries, had the right to place certain restrictions or conditions regarding the importation of GMO foods. In other words, it has the right to take a restrictive approach when it comes to such matters, he explained.

Last week, Ljajić said, Laos became the 157th member of the WTO, while Bosnia-Herzegovina should be admitted in June 2013.

He expressed confidence that Serbia would be able to find a solution and become a member of the international organization.

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