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India, Serbia to sign bilateral trade pact

Our Bureau

New Delhi , Feb. 1

INDIA and Serbia and Montenegro are likely to sign an agreement on bilateral trade very soon, following the agreements on cultural co-operation and on scientific and technical co-operation.

At a meeting between the visiting Serbian Minister of Economy and Privatisation, Mr Predrag Bubalo, and the Minister of State for Commerce & Industry, Mr E.V.K.S. Elangovan, today, the decision to sign an agreement on bilateral trade soon figured, an official release said. Both the Ministers expressed satisfaction over the growth in trade, but also noted that the current level of bilateral trade was below the potential.

India exported goods worth $16.78 million to Serbia and imported $3.64 million, with the total trade accounting for just $20.42 million during 2003-04.

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