Update on commercial & economic relations in the Balkans

Economic outlook for 2006 for selected Balkan states

Countries          GDP Growth                Direct F.D.I(Mil. Euros)

Albania              5.8%                            209

Bulgaria            6.0%                            1789

FYROM             3.5%                             80

Romania          5.5%                              5.197

Serbia             5.0                                 1.196

Source: Vienna Institute for International Economic Studies (WIIW)-2006-

  Trade relations between Greece and selected Balkan countries

 2006, all prices in Euros.

Countries                Imports from GR.              Exports to GR.

Albania                  336.3                                   29.8

Bulgaria                 971.8                                  712.6

FYROM                 288.7                                   223.4

Romania             507.8                                    449.6

Serbia                224.3                                    180.7

 Note: A lot of the commercial activity between Greece and FYROM, is actually one between Greece and Serbia.

Source: Greek National Statistics Agency.

 Serbian NIS petroleum company.

NIS:

2 refineries

500 petrol stations

Exploitation rights in Serbia, Libya and Angola

850 million Euros turnover per annum

35 million Euros profit per annum

1 industrial compex of petrochemicals

Natural gas network

14 subsidiaries

6,500 employees.

Companies interested for its privatization:

Lukoil (Russian)

ELPE (Greek)

OMV (Austrian)

MOL (Hungarian)

RomPetrol (Romanian-American)

PKN (Polish)

The Russian company is considered as the favorite since Moscow is backing Belgrade in relation to the Kosovo issue.

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