Scouts from across the continent have been checking on the Montenegro international - who can play anywhere along the forward line - and he has not disappointed this term with seven goals in just 12 games.
City have now thrown their hat into the ring to land Jovetic after Sven-Goran Eriksson sent his right-hand man Tord Grip to hold talks with Partizan.
Former Dundee United star Petric admitted talks had taken place but stressed Jovetic would not be moving in January and that no deal had been agreed with any club.
"We won’t be selling Jovetic this January," Petric insisted.
"We are aware that he will go sooner or later, but we wouldn't let go of his services earlier than the end of 2008.
"Of course, it depends what kind of offers we will be getting for him, but personally, I think it wouldn't be good for him to leave for abroad so soon at this age.
"The talks are going on, and City are not the only club in question."
Partizan president Tomislav Karadzic added that the club are not looking to sell, yet.
"The money on offer can be tempting, but we are not planning to lose such a bright talent so early," he told the Serbian press.
Jovetic is currently valued at around £7million but when Partizan sell, if he continues to improve as he has done in recent months, the teenager could well fetch over £10million.