Khripunov: Expobank is a new stimulus for economic relations between Serbia and Russia

The third Russian bank entering the Serbian market will add significantly to developing economic relations between Belgrade and Moscow, Andrey Khripunov, Russia’s trade representative in Serbia, told Sputnik.

In an interview with Sputnik’s Serbian edition, Andrey Khripunov, Russia’s trade representative in Serbia, underscored the importance of the third Russian bank entering the Serbian market, which he said will contribute to bolstering bilateral economic ties.

The interview came amid reports that Russia’s Expobank will soon start to operate in Serbia. It will become Russia’s third bank after VTB and Sberbank to service the Serbian market. The news about Expobank has already provoked an uproar in some Serbian media outlets, which immediately mentioned huge sums injected in “the Russian economic and propaganda assault” which they said will allegedly hit Serbia in the near future.  It seems that the so-called “economic patriots” prefer to turn a blind eye to the US investing billions of dollars in Serbia, and the fact that Russia has been present in the Serbian market for a long time, according to Khripunov.

He recalled that more than 30 Russian companies currently operate in Serbia, including the oil company Gazprom Neft, which injected 947 million euros into Serbia, where it created about 4,000 jobs.

Khripunov added that the volume of Russian investments in the Serbian economy currently stands at about three billion dollars. Apart from bilateral energy projects, the two countries are developing economic cooperation in other sectors.

Russia ranks fifth among Serbia’s export partners and third among its import partners. This year, Serbia substantially reduced the trade deficit, supplying 650 million dollars in goods to Russia in the first nine months of 2016.

This is an 9.1-percent increase, as compared to the same period in 2015.  Adding to bilateral relations will be a free trade agreement between the Eurasian Economic Union and Serbia. At present, consultations on the matter are under way.

(Sputnik News, 11.12.2016)

A small favour

Since 2013, Serbian Monitor has been offering to its readers carefully selected news about the Republic of Serbia, as a daily commitment stemming from the genuine desire to offer undistorted information about a country that is too often a victim of prejudice and superficiality. From November 2016, this service is available in English and Italian with a growing number of original articles with a goal of providing a complete picture of this Balkan country's economy, politics, culture and society. Our archive is completely free of charge, available to anyone who wants to get to know the country, to study its specific aspects, or to be constantly updated about it. This project will only be able to continue with the help of readers on whom we are calling to provide a small financial support so that we can continue supplying an increasingly expanding pool of information and original contributions. If you appreciate our work, please click on the button below.

This post is also available in: Italiano

Share this post

Leave a Reply

Your email address will not be published.

scroll to top