NEW DELHI, APRIL 25: Serbia and Montenegro (formerly Republic of Yugoslavia) is working on a new trade agreement that would help reduce its trade deficit with India. This is expected to be done soon, according to the country’s ambassador Vuk Zugic.
"We are in the process of privatisation and we want Indians to invest in the economy of Serbia and Montenegro," he told FE adding, "We are exploring government-government and business-business possibilities of tie-ups and joint ventures."
To further strengthen relations between the two countries, deputy prime minister Gvozdenovic of Montenegro is leading a high-level delegation to India on Tuesday at the invitation of the shipping minister. "We are looking for co-operation in several areas including food processing, construction, pharmaceuticals and seeds," Mr Zugic said.
Indeed, Serbia and Montenegro is examining several other areas too in which bilateral co-operation can be expanded, he added. These include commerce, tourism, culture, science and IT as well.
"It may be recalled that in 2004 Kapil Sibal, minister for science and technology, visited our country and an agreement in the science and technology area was signed to strengthen ties in this sector," he added.
According to the ambassador, several delegations -- particularly in the automobiles and spare parts sectors -- visited India on a fact-finding mission in the car/truck/bus industries. And more are expected to arrive soon and will visit Tatas, Mahindra & Mahindra and Ashok Leyland plants, he added.
Currently, most discussions relating to the automobile sector and spare parts are in the nascent stage. However, we are looking for joint venture possibilities, Mr Zugic explained.
The Indian businessmen will get an opportunity to enter other markets in the region through Serbia and Montenegro, he said.
Tourism and culture are other areas where we are keen to have stronger relations with India, he added. "Recently tourism minister Renuka Chowdhury was in Belgrade to open the Indian cultural exhibition."