Serbia welcomed potential Chinese investment in its agriculture as they would be most beneficial for both countries, State Secretary in the Serbian Ministry of Agriculture Danilo Golubovic said. Since Serbia has free trade agreements with the European Union (EU), Russia and Central European Free Trade Agreement (CEFTA) countries, all Chinese food products could this way be placed on those markets in much larger extent, said the official. \"By opening their business here, Chinese agriculture and food production companies could enter markets with which we have free trade agreements, with less cost and in much larger extent, and in the same time gather investor subsidies offered by the Serbian Ministry of Agriculture,\" Golubovic told Xinhua. The Serbian Ministry of Agriculture has set aside some 432 million euros (about $561) as incentives for investment in agriculture for 2013, as it is regarded as one of the most promising industries in the future. And although, according to law no foreigners are allowed to own agricultural land in Serbia, it is possible to purchase it by direct negotiations with the government. \"We would like to attract investors by offering them to lease state owned land, on 20, or 30 years period depending on what kind of crop is grown and of total investments scope,\" said Golubovic.