Zambia And Serbia Initiate Strengthening Of Bilateral Economic Relations

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Zambia and Serbia are all set to revive their bilateral relations and build stronger economic relations, Serbian President Mr. Tomislav Nikolic indicated.

President Nikolic pointed out that Serbia wants to intensify its economic cooperation with Zambia, noting that the country has much to offer, particularly in the sectors of agriculture and construction.

The announcement was made during an official visit to Serbia by a delegation lead by Zambian Minister of Foreign Affairs Mr. Harry Kalaba, from 14th to 16th April 2015.

During the visit Mr. Kalaba had discussions with the ministry of Agriculture of Serbia and with various Serbian companies that are currently present in Zambia as well as others that showed interest in doing business in Zambia in the future.

According to both Mr. Kalaba and Mr. Ivica Dacic, Minister of Foreign Affairs and the Deputy Prime Minister of Sebia, there is a lot that both countries can do to explore untapped opportunities.

As a result Zambia and Serbia are ready to work together to develop a memorandum of understanding (MoU) to enhance development and strengthen cooperation between the two countries.

The proposed MoU will provide a sustainable framework of cooperation between the two countries and would formulate strategies for cooperation in agriculture, education, trade and investment between the two countries.

Zambia and Serbia have also decided to conclude the ratification processes of the Avoidance of Double Taxation Agreement.

According to the Embassy Of The Republic Of Serbia the trade between the two countries currently amounts to USD 27,000 only.