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30 Oct 09

Serbia, Montenegro Sign Bilateral Agreements

Serbia's and Montenegro's economy ministers, Mladjan Dinkic and Branko Vujovic, signed a series of bilateral economic agreements in Podgorica on Thursday.
Bojana Barlovac
Tanjug news agency reports that the pacts include an agreement on economic cooperation and an agreement on the mutual encouragement and protection of investments.

The two ministers said that the signing of the pacts will contribute to improving overall economic relations between the two countries and in increasing the volume of mutual investments.

“Serbia still regards Montenegro as one of [its] most important partners for the future, and the agreement on mutual promotion and protection of investments is important, considering the fact that our country now has invested approximately €200 million in Montenegro,” the agency quoted Dinkic as saying.

According to Vujovic, Serbia is one of the most important foreign trade partners for Montenegro, with a trade volume amounting to between €800 and €900 million a year.

Bilateral trade has been increasing every year, up until this year when the economic crisis has had a deletorious impact.

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