() - Macedonia and Serbia/Montenegro (SCG) agreed Thursday on a new free trade agreement, which covers 100 percent of products instead of current 97 percent.

Macedonian Economy Minister Fatmir Besimi and SCG Minister of international economic relations Predrag Ivanovic signed the document today, after the sixth session of Macedonia-SCG Committee.

"This is a great step for intensifying the trade cooperation between the two countries. The agreement gives green light to all economies in the region to boost the trade exchange," Besimi said after the signing ceremony.

This is the first agreement, signed within the Stability Pact for Southeastern Europe, Ivanovic said, pointing out that Macedonia-SCG trade exchange in the last year was at US $ 444 million, rising for 25 percent in comparison to previous period.

He expressed hope that the document would be soon ratified and enforced this fall.