Serbia's Prime Minister Mirko Cvetkovic and his Bulgarian counterpart Boyko Borisov opened a Bulgarian-Serbian business forum in Sofia on Tuesday, which gathered the most important companies and businessmen of the two countries.

Cvetkovic underlined that the tax environment in Serbia is very favorable for foreign investors, and added that the state will continue to boost economy and realize infrastructure projects, particularly Corridor 10 and its section from Nis, a city in southern Serbia, to the border with Bulgaria, which is planned to be completed in two and a half years.

Cvetkovic and Borisov qualified close political ties as a sort of "umbrella" and a basis for good economic cooperation. The goal of this forum is to present the businessmen with the possibilities offered by both countries, the prime minister stated at the opening ceremony.

Speaking about Serbia's business environment, Cvetkovic said that the country is still on the path of transition and hit by the economic crisis just as Bulgaria or any other state, but added that nevertheless positive trends were registered in 2010. Reforms are being carried out intensively and Serbia will be faced with a serious agenda in order to achieve the EU candidate status, Cvetkovic underscored.

Noting that Serbia is to take a number of serious steps in the area of legislature and institutions, the prime minister pointed out that the government has made an ambitious but feasible plan, which is being implemented with success.

Cvetkovic also said that the talks with the International Monetary Fund (IMF) were closed on Monday, adding Serbia will continue to cooperate with this financial organization within the so-called precautionary arrangement. Apart from Corridor 10, Cvetkovic underlined the importance of the South Stream gas pipeline project and cooperation in the gas sector.

Bulgarian Prime Minister Boyko Borisov also pointed to the importance of infrastructure projects, as well as the Danube Strategy and the South Stream gas pipeline.

The Bulgarian prime minister announced the opening of new border crossings between the two countries, as well as a joint military exercise in Bulgaria in August.

The delegation, headed by the Serbian prime minister, also comprises Minister of Trade and Services Slobodan Milosavljevic and Minister of Energy and Mining Petar Skundric.

The Serbian companies which took part in the Sofia forum are: Trayal, Galenika, FAP, Jugoimport, SDPR and Prva Iskra.