Cadez: Despite Challenges Surrounding NIS, Exports Are Strong, Reserves of Oil Derivatives Stable

Marko Cadez (BETAPHOTO/DRAGAN GOJIC)

Serbian Chamber of Commerce president Marko Cadez said on Dec. 4 that the current challenges with regard to the Oil Industry of Serbia (NIS) were a result of global geopolitical tremors which the Serbian government had prepared for on time by ensuring sufficient reserves of oil derivatives as well as that despite that, the domestic economy was seeing an increase in exports, regional economic cooperation was progressing, large technological events were being held and a knowledge-based economy was being built.

Cadez told Serbian Radiotelevision that the situation surrounding NIS was being monitored from hour to hour and this was not a new subject and that the Cabinet and Chamber had been working on it since the start of February this year, and that the state would not have had reserves of oil derivatives had it not prepared for the situation on time.

"For the economy it is important to secure the availability of oil derivatives which the state has done more than a good job of doing. Of course NIS with its suppliers have an effect on the Serbian economy and that the suppliers in the chain could feel problems. Now the refinery is stopping and Petrohemija is stopping, ergo, a series of products that we get for example, for the plastic industry," Cadez was quoted as saying by the Chamber.

On the other hand, he added, this demands that the companies that produce plastics make some changes. "This is why it is important that the subject of NIS's ownership is solved as soon as possible and that we return to regular channels. This is not easy in the least, we see that the Cabinet is reacting in a truly fair way where financial problems are concerned," he said, adding that the Cabinet was trying to accommodate suppliers who work for NIS to ensure their normal operation.