Serbia should invest in production

BELGRADE - Serbian President Tomislav Nikolic said on Tuesday during talks with Azerbaijani Minister of Economy and Industry Shahin Mustafayev that investment in production is the only way for Serbia to emerge from the crisis.

"The entire Serbian economy should be upgraded through cooperation with foreign investors, on solid foundations. The only way for Serbia to emerge from the crisis is to invest in production, find new sources of revenues, and not only to implement austerity measures. That's why all those who want to invest in the economy are welcome to Serbia, primarily those coming from friendly countries," he said.

Serbia has begun negotiations with the EU, and now it has a chance to put the state in order on the model of developed European countries. On the other hand, that will not affect excellent relations that Serbia has with numerous countries across the world, he said.

The Azerbaijani minister conveyed to Nikolic President Aliyev's regards, noting that Serbia and Azerbaijan had signed numerous agreements which, together with their friendship, represent a stable basis for development of excellent bilateral relations.

In the previous period, the volume of trade between Serbia and Azerbaijan increased several times, but there is still much room for improvement, he added.

Nikolic and the Azerbaijani minister concluded that the joint projects are unfolding according to the plan, and since 2014 has been declared the year of industry in Azerbaijan, another field opened in which Serbian and Azerbaijani companies could work together, the release reads.