Minister Popovic: Serbia needs Russian gas and oil for economic security and economic growth

Photo: Tanjug/AP, Shutterstock

Serbian minister in charge of international economic cooperation and social position of the (Serbian Orthodox) Church in the country and abroad, Nenad Popovic, said today that the Serbian people, throughout history, have not had a closer friend or a more reliable ally than Russia, and pointed out that Serbia needs Russian gas and oil in order to ensure a stable supply, security for the economy and citizens, as well as a smooth growth of industry and the entire economy.

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Addressing a session of the Serbian-Russian Intergovernmental Committee for Trade, Economic, and Scientific-Technical Cooperation - which he co-chair with Russian Minister of Economic Development Maksim Reshetnikov - Popovic stressed that trade between Serbia and Russia continues to grow and develop under challenging business conditions.

"Serbia has always needed and continues to need the cheap Russian gas and oil in order to ensure a stable supply, security for the economy and citizens, as well as the smooth growth of the industry and the entire economy. Serbia receives gas from Russia at the most favorable price, under the best terms, and most importantly, we are given guaranteed quantities of gas, which is an extremely important factor when it comes to the energy stability of the Republic of Serbia," said Popovic.

He added that Serbia is immensely grateful to the brotherly Russian people for their support and understanding demonstrated in the most difficult moments of Serbian history, as well as for their consistent readiness to together defend the values ​​of freedom, justice, and dignity.

Speaking about Serbia's economic path, the minister stated that the country has shown resilience and went into this year with a projected GDP growth of 3 percent.

"This growth is the result of Serbia's determination to make progress, to develop and build, and in that context, thanks to EXPO Belgrade 2027, which is being organized for the first time in history in this part of Europe, Serbia is currently the largest 'construction site' in this part of the world  - just as the construction sector in most of Europe is contracting," Popovic stressed.

He added that unemployment is at a historical minimum in Serbia, while foreign exchange reserves are at about €29 billion, which is a strong indicator of macroeconomic stability and security.

"We are the absolute regional leader in attracting foreign direct investments from all over the world, and our foreign trade is continuously growing, reaching €75 billion last year," said Popovic.

He welcomed the Russian delegation led by Minister Reshetnikov and pointed out that the meeting of the Intergovernmental Committee is one of the key mechanisms for monitoring, improving and developing both bilateral trade and economic cooperation, as well as overall bilateral relations between our countries.

Popovic said he is particularly pleased with the first Serbian-Russian Business Forum, which on Thursday gathered more than 200 participants from Serbia and Russia, including representatives of state institutions, the economy, the financial sector, as well as experts representing various fields.

"This year we mark 85 years since the beginning of the Second World War. The brotherly Serbian and Russian people have always been on the right side of history, bravely and selflessly fighting against Nazis, and we made the greatest sacrifices for freedom. Together with our allies, Russia and Serbia liberated the whole of Europe in the Second World War," noted Popovic.

He expressed gratitude to the Russian Federation and President Vladimir Vladimirovich Putin for the consistent and continuous support to the Republic of Serbia, in terms of protecting our territorial integrity and sovereignty, especially when it comes to our southern province, Kosovo and Metohija.

"That support, represents one of the key pillars of our international positioning, and the defense of our state and national interests. The recent talks between the President of Serbia (Aleksandar) Vucic and President of Russia (Vladimir) Putin further confirm the continuity, and strength of our bilateral relations, while the personal relationship and trust at the highest level give an additional impetus to the development of cooperation in all areas," said Popovic.

Noting that, in the coming period, there will be even stronger external pressure aimed at disrupting relations between Serbia and Russia, the minister pointed out that the two countries are bound through deep historical friendship, cultural and spiritual ties, as well as a long tradition of mutual understanding and support.

"We will always stand together with our Russian brothers," concluded Popovic.

(Telegraf.rs/Tanjug)