First Deputy Prime Minister and Minister of the Interior Ivica Dacic and Russian Minister for Emergency Situations Sergei Shoigu signed yesterday the Protocol of the 10th session of the Intergovernmental Russian-Serbian Committee for Trade, Economic, Scientific and Technical Cooperation.

Dacic said after the signing that this document regulates a number of important issues that were the subject of work of expert groups of the two countries.

He recalled that the Russian Federation is a traditional friend of Serbia, adding that before the outbreak of the global economic crisis in 2008 the foreign trade exchange between the two countries was at its highest, standing at about $4 billion.

We expect that by the end of the year the volume of foreign trade exceeds $3 billion, Dacic said.

The First Deputy Prime Minister praised the successful cooperation between Serbia and the Russian Federation on the implementation of the energy agreement.

The Serbian oil industry “Naftna industrija Srbije” (NIS) recorded profit, and I am sure that the modernisation that is being made in NIS will increase its profitability even more, Dacic said.

He said that the primary interest of Serbia and the Russian Federation is to conclude by the end of the year an agreement on long-term gas deliveries to Serbia, which would be in force from 2012 to 2021.

Shoigu noted that all projects that were supported by Serbian President Boris Tadic and Russian President Dmitry Medvedev are being implemented successfully.

The filling with gas of storage “Banatski dvor'' has started, and a joint venture for the design of gas pipeline “Southern Stream” was created, Shoigu explained.

He noted that there are good prospects for cooperation in the field of transport and restoration of locomotives and wagons of Serbian railway company “Zeleznice Srbije”, as well as in building infrastructure.

The 10th session of the Intergovernmental Russian-Serbian Committee for Trade, Economic, Scientific and Technical Cooperation was attended by Minister of Foreign Affairs Vuk Jeremic, Minister of Infrastructure and Energy Milutin Mrkonjic, Minister of Agriculture, Trade, Forestry and Water Management Dusan Petrovic, Energy Advisor to the Serbian Prime Minister Petar Skundric, as well as representatives of the Serbian Chamber of Commerce and Serbian companies.

The Russian delegation, led by Shoigu, was made up of many Russian businessmen, and the session was also attended by Russian Ambassador to Serbia Alexander Konuzin.