Former Serbian president Tomislav Nikolic will be at the helm of the newly-established National Council for Coordination with Russia and China, the Serbian government decided on Wednesday.

Nikolic, who ended his five-year term as the president of Serbia on May 31, has confirmed his appointment as chairman of the council on Wednesday in a statement to Tanjug News Agency.

He said that in previous five years he noticed "a lack of coordination for cooperation" because the job was done by separate ministries.

Nikolic explained that besides himself as the chairman, the council will have 14 members -- seven ministers from the government and seven experts.

"We cannot miss out on the opportunity that we have with China. We wish to reach the economic level of certain European countries that have directed all their attention to China, because they also know that it is where most of the healthiest and freshest investments are to be found," he said.