The Republic of Moldova and Serbia will foster bilateral cooperation in the economic sphere. The Cabinet authorized the initiation of negotiations on an agreement on the reciprocal promotion and protection of investments, IPN reports.

The agreement will ensure the normative framework needed to stimulate economic development and the flow of capital between the two states. It aims to create safe conditions for investors and encourages the opening of mixed capital companies and is designed to strengthen the relations of friendship between the two states.

The agreement will be valid for a period of ten years and can be extended.