18:35 GMT16 May 2021
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    The trade turnover between Serbia and Russia in the first five months of 2017 increased 16 percent compared to the same period in the previous year, the Serbian Trade Ministry said Wednesday, citing Deputy Prime Minister Rasim Ljajic.

    BELGRADE (Sputnik) – Earlier in the day, Ljajic held a meeting with Russian Ambassador Alexander Chepurin in Belgrade.

    "Ljajic expressed satisfaction with the fact that the trade between the two countries in the first five months increased by 16 percent compared to the same period last year, and that 815 Serbian companies are exporting to Russia, the largest number so far," the ministry said in a statement.

    The statement also cited Ljajic as saying that there was the potential to develop Russian-Serbian economic cooperation which shows the necessity to continue negotiating free trade deal between Serbia and the Eurasian Economic Union (EAEU).

    In 2016, Russian-Serbian turnover amounted to $1.6 billion.

    The Eurasian Economic Union is a Russia-led bloc, comprising Russia, Kyrgyzstan, Kazakhstan, Belarus and Armenia, and aimed at developing intraregional economic ties and establishing the free flow of goods among its members.

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    Tags:
    economy, trade, Alexander Chepurin, Serbia, Russia
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