Grujic: Initiative could cut Serbia's trade deficit with Russia

ST PETERSBURG - An initiative to boost the volume of trade between Serbia and Russia, launched last year as an arrangement whereby 10 pct of Serbia's imports of Russian fuels would be compensated by Serbian exports to Russia, could be implemented within the next six months, PSP-Farman Holding President Branislav Grujic, who co-chairs the Serbia-Russia Business Council, said on Friday.

Speaking at a panel on Russia-Serbia bilateral cooperation, held as part of the St Petersburg International Economic Forum (SPIEF), Grujic said Serbia was currently importing Russian fuels worth 2.1-2-2 bln dollars.