Russian Co. to invest 6m Euros in Eastern Macedonia

Russian company will invest EUR 6 million for the construction of a facility for processing of meat industry waste in Macedonia's east, said Vice Premier and Finance Minister Zoran Stavreski after the completion of the country's economic presentation in Russia.

"As a result of the contacts we had here with the investor, as well as previous activities by the Macedonian promoter in Moscow, we can say with high degree of certainty that a fresh Russian investment is pending in Macedonia", said Stavreski.

The plant will process meat industry waste, which is to be used for medical and other purposes following the bio-technological process.

 According to Stavreski, the investor is set to come to Macedonia by the end of April and register a firm.

"Besides the importance of the investment, the most significant thing is the opening of new jobs, thus mitigating the unemployment problem in Macedonia's east", underlined the FinMin.

Macedonia's trade exchange with Middle East, Maghreb countries without strategy

Macedonia's foreign trade exchange with countries in the Middle East and Maghreb is occurring incidentally, without a general strategy. Companies' attempts to bolster it are still hampered by unestablished preferential trade, visa regime, complex and expensive procedure for document verification and the lack of diplomatic and consular offices. Modest bilateral regulation is also seen as a problem, it was concluded at a news conference Monday at the Economic Chamber of Macedonia.
Country's total exchange with Algeria, the United Arab Emirates, Bahrain, Egypt, Iraq, Iran, Israel, Morocco, Kuwait, Lebanon, Qatar, Saudi Arabia, Syria, Jordan, Tunisia and Libya in the period between January and October 2011 stood at 50.7 million US dollars, out of which $15.6 million were accumulated by export and 34.9 million by import. Trade deficit is $19.3 million, while import-export coverage is 44.4%.
Ljubica Nuri of the Economic Chamber said that the Arab Spring did not significantly affect trade exchange, which was boosted with Algeria and Tunisia, but hugely reduced with Libya.
Macedonia in Middle East and Maghreb countries primarily exports agricultural and food products (33.3%) and iron and steel products (39.1%). The import balance includes household products, electronic devices and equipment (26.6%), construction materials (19.8%), petroleum oils and oils obtained from bituminous minerals (12.9%) as well as agricultural and food produces (7.7%)."
Macedonian companies can increase their competitiveness on markets in the Middle East with Halal certification not only of products, but also of services," Nuri stated.Economic Chamber data suggest that this year a foreign-trade surplus has been realised with Iraq, Lebanon, UAE, Bahrain, Yemen and Tunisia, while trade deficit has occurred with Morocco, Egypt, Jordan, Algeria, Israel, Kuwait, Libya, Qatar, Saudi Arabia and Iran.

Macedonia Promises Bulgaria Progress on 'Corridor 8'

Macedonia's government has agreed with Bulgaria's that the still imaginary project for Pan-European Transport Corridor No. 8 is a priority, the Bulgarian Transport Ministry announced.
Macedonia's new promises to help launch at last the transport corridor have come at a meeting of Bulgaria's Deputy Transport Minister Kamen Kichev with his Macedonian counterpart Tehir Hani.
Pan-European Corridor No. 8 – a parallel linking the Bulgarian Black Sea ports to the Albanian Adriatic ports via Macedonia along and its extension to Italy, a supposedly vital chain in the proposed shortest route between East and Central Asia and Western Europe – has been talked about for years with grand expectations for boosting trade and development in the Balkans – but has seen little realization.

Probably the most important obstacle for the project is the lack of a railway connection between Bulgaria and Macedonia, with the Macedonian state balking at the construction of several dozen kilometers of line on its territory.
Bulgaria's Deputy Transport Minister Kichev has presented to the Macedonian government the transport road and railway section under construction and/or rehabilitation in Bulgaria that are part of the proposed route of Corridor 8, the Transport Ministry in Sofia said.
These include the Trakiya Highway and the Lyulin Highway; sections from the Sofia-Burgas railway and the Karnobat-Sindel railway; and the modernization of Port Varna and Port Burgas on the Black Sea.
"The project for the construction of the Sofia-Skopje railway is of strategic significance both because it would connect the railway networks of the two states, and because it would held for the completion of the Corridor 8 route," Kichev told his Macedonian counterpart.
He further said the Bulgarian government needs to construct only 2.5 km of railway from the village of Gyueshevo to the Macedonian border.
"We are ready to build it right now if the Republic of Macedonia starts constructing their section," Milcho Lambrev, Director-General of Bulgaria's National Company "Railway Infrastructure.
"The Bulgarian Transport Ministry further says that Macedonia's Ministry of Transport and Communication "is in an advanced phase of the feasibility study for the railway line from Kumanovo to Deve Bair", the missing railway section on Macedonian territory.
"We are optimistic that we will complete the railway in 5 years," the Macedonian Transport Ministry is quoted as saying.