Prime Minister Mirko Cvetkovic and Executive Director of the International Monetary Fund (IMF) Nemat Shafik agreed today that Serbia’s latest Stand By Arrangement with the IMF was completed successfully and that talks on further cooperation should be opened.

Cvetkovic, who is heading a Serbian delegation at the spring meetings of the IMF and the World Bank in Washington, said in a statement to Tanjug news agency that he and Shafik discussed the conclusion of a new arrangement as a precaution, which does not entail money, but cooperation with the IMF.

He announced that a Serbian delegation, comprising Deputy Prime Minister Bozidar Djelic and Governor of the National Bank of Serbia Dejan Soskic, will hold a technical meeting in Washington concerning the relations with the IMF, at which occasion further steps will be defined.

Cvetkovic also met with Swiss Minister of Finance Eveline Widmer-Schlumpf and Swiss Minister of Economy Johann Schneider Ammann. Switzerland is chairing the IMF group in which Serbia currently stands.

At separate meetings with these two Swiss ministers, the Prime Minister discussed bilateral relations between Serbia and Switzerland and proposed possibilities to step up their economic cooperation.

He underlined the importance Serbia ascribes to its relations with Switzerland, noting that it wants to intensify the political dialogue and develop bilateral cooperation, especially in economy.

The sectors of energy, clean technologies, food and chemical and pharmaceutical industries have great potential for the development of economic relations and investment, he proposed.

As for the EU integration process, Cvetkovic notified the two ministers about the anticipated dynamics of Serbia’s EU accession, stressing that the key goal is to acquire candidate status this year and set the date for talks.

Following the meetings, Cvetkovic attended a session of the Constituency at the World Bank headquarters in Washington, attended by Azerbaijan, Kazakhstan, Kirgizstan, Poland, Switzerland, Turkmenistan and Uzbekistan, along with Serbia.

Cvetkovic presented Serbia’s basic macroeconomic indicators and said that the government’s chief goal is to revive sustainable economic development and continue the EU integration process.

Serbia will step up public sector reforms to fully harmonise legal regulations and institutions with those of the EU over the upcoming period. If they are implemented, the planned economic policy measures will help to balance the economy and enable long-term development, Cvetkovic observed.

Tonight, Cvetkovic will meet with US congressmen, members of the Serbian caucus, Pete Visclosky and Dan Burton, while tomorrow he will talk with World Bank Managing Director Ngozi Okonjo-Iweala.