Thursday, December 09, 2004

IranMania News

IranMania News: "Iran, Serbia sign five agreements

Thursday, December 09, 2004 - ©2004 IranMania.com
LONDON, Dec 9 (IranMania) - Iran and Serbia-Montenegro signed five trade and investment agreements at the end of the 12th joint Iran-Serbian and Montenegro Economic Cooperation Commission session, IRNA said.

Iranian Economy and Finance Minister Safdar Hosseini and Serbian and Montenegro Federation Minister for National Minorities and Human Rights Rasim Ljajic signed protocols on removal of double taxation on trade and investments, support and attracting of foreign investments, and trade and economic cooperation.

Also, an agreement on cooperation on insurance coverage between the Export Guarantee Fund of Iran (EGFI) and Serbian Guarantee Institute and another on provincial cooperation will be signed in Tehran and the city of Arak respectively on Wednesday.

Hosseini said that the 12th economic commission was a good opportunity for identifying the two countries' investments prospects in various areas and expressed satisfaction on the commission proceedings.

Hosseini referred to the determination of the officials of both countries to expand relations, and said "cooperation in trade, transportation, energy and tourism sectors are the priorities among various industries."

The protocols will facilitate closer ties between the two states' private sector, Hosseini said stressing on the necessity for expediting the implementation of the agreements.

Ljajic also underscored the importance of implementing the protocols. He said the two sides should strive to boost bilateral trade exchanges.

In addition to the agreements signed, three more protocols on customs, and in athletic and cultural fields are also on the agenda, which if the contents were agreed upon, would be finalized, the Serbian official added.

He expressed his country's readiness to expand cooperation in the area of broadcasting.

The three-day session wrapped up on Tuesday.

Hosseini said at the inaugural session of the commission that Iran and Serbia should raise the volume of their transactions given their high potential.

Referring to the "very good cooperation" between Iranian and Serbian companies in commercial, industrial, technical, research and educational fields, Hosseini hoped Iran-Serbia Economic Commission would help promote mutual cooperation.

He said the two governments could help and support private sector's activity in economic and commercial exchanges.

He proposed that Iranian and Serbian manufacturing and commercial, technical and engineering companies should strengthen cooperation with each other and implement joint projects.

He added that Iran supports projects for technological progress, information sharing and joint production for exports.

The minister further called for banking and export insurance and investment ties between Iran and Serbia.

The trade between the two sides in recent years stood at $700 mln."

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