Energy resources management of Serbia and its foreign trade with Russia

Resources management by a national economy is of great significance for every country. If they are deficient then they should be purchased abroad. Oil and oil derivatives are the energy resources that are in shortest supply in Serbia. The statistical data on its foreign trade in the period January-July 2008 show that Serbia recorded the greatest foreign deficit in its trade with the Russian Federation. This primarily results from its energy resources imports. Russia is Serbia's most important partner in strategic commodities supply. For this reason the measures for abolishing or decreasing the oil export duties would considerably reduce the production costs in our economy. This would lead to an improvement in a large number of our economic branches.