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Serbia has established diplomatic relations with Saudi Arabia for the first time since the 1990s break-up of the former Yugoslav federation, aiming to "step up economic cooperation", a foreign ministry statement said Tuesday.
Saudi Arabia was the only country in the Arab world with which Serbia did not have diplomatic ties, the ministry said.
Faced with a decrease of foreign investments necessary to revive its ailing economy, Serbia has recently stepped up contacts with Arab countries.
Trade Minister Rasim Ljajic recently said Belgrade would propose a number of investment projects to Riyadh, without elaborating.