Author: Danica Pavičević (еconomist, at the time of writing: Republical Institute for Health Care, Belgrade, Serbia)
Editors note: First presented at the XII International Conference “Danube – River of Cooperation” (October, 11-14 2001) and published in the print version of Danubius, No 1-2/2001
The field of economic and financial relations with foreign countries is the most important limiting factor for growth and development of our economy, and causes of aggravation are results of both factors, international and domestic.
Positive changes are needed in areas of society and economy, in inflows of foreign investments, export growth, export encouragement, regulation of relations with international financial institutions and joint projects with foreign partners.
The rules of World Trade Organization and legislation of European Union, which have also been adopted by countries of Danube region, in our country are going to be legally defined. Normative regulation is being structural adapting and bringing into harmony with the existing potentials of economy. Because of that, the rehabilitation of banking system is the core link in restructuring process of our economy and in stimulating the international program of cooperation.
In market-oriented economy, the good credit flows are being selectively stimulated by reaffirmation of commercial banks.
Banking system institutionally gives right to international exchanges and other financial intermediaries to act with its infrastructure on domestic financial market
Good and modern operation and future business cooperation with foreign partners cannot be imagine without this types of cooperation.