Moscow, Belgrade Sign Agreements On Export Loan, Localization Of Russian Enterprises

Russia and Serbia have signed a memorandum of understanding on the localization of Russian enterprises in Serbia as well as providing the latter with an export loan, a Sputnik correspondent reported from the signing ceremony led by Russian Prime Minister Dmitry Medvedev and Serbian President Aleksandar Vucic

BELGRADE (UrduPoint News / Sputnik - 19th October, 2019) Russia and Serbia have signed a memorandum of understanding on the localization of Russian enterprises in Serbia as well as providing the latter with an export loan, a Sputnik correspondent reported from the signing ceremony led by Russian Prime Minister Dmitry Medvedev and Serbian President Aleksandar Vucic.

According to the documents prepared ahead of the Russian delegation's visit, the agreement looks to give Russian industries an opportunity to operate in Serbian special economic zones.

"The signing of the memorandum will be the first step to host Russian industrial production in Serbia. Potential participants in the Russian industrial zone could be Russian companies such as BL Group [lighting equipment], Armastek [composite building materials], Russian Railways, as well as Russian automotive manufacturers," the materials said.

The agreement on granting Belgrade with an export loan was also signed and the necessary documents were exchanged between Russian Deputy Finance Minister Yuri Zubarev and Serbian Finance Minister Sinisa Mali.

According to First Deputy Head of the Russian Government Office Sergei Prikhodko, who talked to reporters before the ceremony, the agreement contained an export credit for Belgrade worth 172.5 million Euros ($192.6 million).