DUSHANBE, March 11, 2014, Asia-Plus – Issues related to creation of legal foundation for trade and economic cooperation between Tajikistan and the Republic of Serbia were discussed here last week at a meeting of Tajik Minister of Economic Development and Trade Sharif Rahimzoda with Serbia’s Ambassador to Tajikistan Slavenko Terzic, according to the Ministry of Economic Development and Trade (MoEDT) press center.

The sides reportedly discussed socioeconomic situation in both countries, priorities of the economies of Tajikistan and Serbia, economic reforms, development of their hydropower, industrial, tourism and agrarian sectors, attraction of investments, etc.

Rahimzoda and Terzic noted that establishment of an intergovernmental commission for trade and economic cooperation would promote establishment of close cooperation between the two countries, the MoEDT press center said.

Serbia has an emerging market economy in upper-middle income range.  According to the IMF, Serbian nominal GDP in 2013 was officially estimated at $43.7 billion or $6,017 per capita while purchasing power parity GDP was $80.467 billion or $11,085 per capita.  The economy is dominated by services which accounts for 63.8% of GDP, followed by industry with 23.5% of GDP, and agriculture at 12.7% of GDP.  Serbia is not a mass-tourism destination but nevertheless has diverse range of touristic products.  Energy sector is one of the largest and most important sectors to the country''s economy.  Serbia is net exporter of electricity and importer of key fuels (such as oil and gas).