Serbia and Al Rawafed from the Emirates to form joint agricultural venture

Representatives of the Serbian Economy Ministry and the Al Rawafed company from the United Arab Emirates signed July 4th in Belgrade an agreement on joint investment in the establishment of joint venture for investments in Serbia's agriculture.

The agreement was signed between Serbian Economy Minister Dusan Vujovic and Al Rawafed CEO Mahmud Ibrahim Al Mahmud, the Economy Ministry of Serbia announced in a release.

It was pointed out that Serbia would hold a 20-percent stake in the joint venture and it would not be obligated to invest in its operations, whereas the partner from the Emirates had taken on the obligation to invest EUR 140 million in the new company within the next four years.