Agreement signed on economic cooperation between Serbia and Turkey - construction of traffic infrastructure as priority

The Minister of Economy and Regional Development of Serbia, Mlađan Dinkić, and the Minister of Labor and Social Insurance of Turkey, Omer Dinčer, signed the agreements today (October 26, 2009) in Belgrade on economic cooperation and cooperation in the field of infrastructure.

As the people from the Ministry of Economy told Beta agency, the Agreement on cooperation in development of traffic and other infrastructure at local, regional and national level anticipates provision of favorable terms for financing these projects.

The priorities are: construction and reconstruction of Novi Pazar - Tutin road and Novi Pazar - Sjenica/Aljinovići road, and construction and reconstruction of "accompanying road facilities" in total lenght of 65.99 km.

The funds for construction of roads will be partially provided by Turkish Exim Bank, which will provide 85% of the funds and grant the loan of about 30m USD, while 15% of the value of the projects will be financed from Serbia's budget.

- According to that Agreement, Turkish side will hire contractor that is obliged to hire subcontractors in Serbia, as well as to buy equipment and materials in Serbia - people from the Ministry of Economy and Regional Development of Serbia pointed out.

The other document signed by Dinkić and Dinčer - the Agreement on economic cooperation - should create conditions for improvement of cooperation on long-term basis.

Ministarstvo privrede Republike Srbije

Grad Novi Pazar

Opština Tutin

Opština Sjenica

Eksimbanka a.d. Beograd - privredno društvo brisano iz registra

Ambasada Republike Turske Beograd

Mlađan Dinkić

Ministry of Labor and Social Insurance of Turkey

Omer Dinčer

Aljinovići