RI, SERBIA TO SIGN ECONOMIC COOPERATION AGREEMENTS

Jakarta, June 13 (ANTARA) - Indonesia and Serbia have agreed to sign the draft agreements on economic cooperation and on promotion and reciprocal protection of investment.

"The agreements were one of the results of the bilateral meeting between the two countries in Beograd on June 10-23," the director of Central and East Europe of the Ministry of Foreign Affairs, Emeria W.A. Siregar, said here on Saturday.

She said the economic cooperation agreements to be signed would be umbrella agreements to facilitate cooperation in the field of economy.

"These agreements are new to replace similar ones signed in 1968," she said.

She said areas covered in the agreements included trade, investment, transportation, banking, industry, communications, agriculture, research and technology, energy, tourism and others.

The draft agreements also regulate the establishment of a joint economic commission which is a forum to discuss economic cooperation.

The draft agreement on promotion and reciprocal protection of investment is aimed at increasing investment flows between the two countries.

"We are now trying to settle negotiations on investment agreements with several countries in line with the implementation of new investment regulations of 2007," she said.

She said Indonesia and Serbia had also agreed to immediately negotiation on the agreement for cooperation in trade.

While in Serbia, the Indonesian delegation also met with Serbia's foreign ministry's secretary of state, ambassador Stanimir Vukicevic, to discuss the development of the two countries' bilateral relations.

During the meeting they had also talked about the implementation of bilateral consultations agreement signed by the two countries' foreign ministers in Jakarta on March 27, 2008.

The agreement covers diplomat education, extension of free-visa cooperation agreement for diplomatic and official passport holders and exchange of views on development in the two countries, regional and international issues.

***4***