The only encouraging news is that both sides, provided that they conclude this agreement, will have to report it to the Commission for the Protection of Competition and obtain its consent. Dijana Markovic‐Bajalovic, the President of the Commission, said that it all depends on whether or not this agreement could have negative impact on the competition.
“We would have to look into the matter, because at the moment we are not familiar with the details and we don’t know whether NIS and the small private oil traders actually represent 80 percent of the market or not. The Commission is competent to decide whether to approve or disapprove this agreement,” said Dijana Markovic‐Bajalovic.
The regulation of the Serbian Government, banning the import of oil derivatives, has been introduced to protect NIS from the competition and to give the refineries in Pancevo and Novi Sad time to carry out the maintenance, repair and modernisation works and to introduce the European standards in their fuel production. This regulation expires on 1 January 2011.