Agreement signed with Spain on avoidance of double taxation

The Minister of Trade and Services, Slobodan Milosavljević, said today (March 9, 2009) that Serbia and Spain had signed the Agreement on avoidance of double taxation in Madrid, which should stimulate Spanish investments in Serbia.

- That agreement will be the stimulus for the investors from Spain to come to Serbia, it will make the operations of Spanish companies in Serbian market easier, as well as the operations of Serbian companies in Spain - Milosavljević told agency Beta.

As he explained, the agreement will be favorable for the citizens of both Serbia and Spain, including sportsmen and cultural workers.

Milosavljević announced that the meeting with the businessmen from Spain would be held the next day (March 10, 2009), and that the main themes of the meeting would be concrete investments and improvement of economic cooperation and trade between the two countries.

- The value of foreign-trade exchange between the two countries amounted to about 300m USD in 2008 – said Milosavljević and added that Serbia had also registered large deficit.

According to his words, the value of Serbia’s export amounted to about 50m USD, while the goods imported from Spain were worth 250m USD.

- There is space for growth of exchange, and it is important that we analyze the market of Spain and determine the products that can be exported to that market – said Milosavljević.

Ministarstvo turizma i omladine Republike Srbije

Ambasada Kraljevine Španije Beograd

Slobodan Milosavljević

Agreement on avoidance of double taxation

Madrid