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Serbia, Kazakhstan consider setting up joint investment fund

Author Radomir Ralev
Serbia, Kazakhstan consider setting up joint investment fund Source: Serbian Government

BELGRADE (Serbia), February 14 (SeeNews) - Serbia's agriculture ministry said Belgrade considers the incorporation of a joint investment fund with Kazakhstan to improve trade relations between the two countries.

The objective of the project will be to increase the investments in both countries and to boost the trade between them, Serbian agriculture minister Branislav Nedimovic said, as quoted in a statement by the ministry on Monday. 

A similar investment fund has already been set up by Kazakhstan and Hungary and this is a good model, as the fund executes around 30 projects in the two countries, Nedimovic said on the sidelines of a meeting with a delegation of Kazakh state-owned agricultural holding KazAgro, led by its president, Nurlibek Malelov. 

“Our idea is to transfer know-how and in this way to support exports from Serbia to Kazakhstan,” Nedimovic said in the statement. 

The Kazakh-Hungarian fund was established by KazAgro and Hungary’s Eximbank in December 2015. The investors injected $20 million (18.8 million euro) in its capital each.

($ = 0.9408 euro)