The west Londoners currently sit at the top of the table while Manuel Pellegrini's men lie six points behind the leaders with two games in hand and a superior goal difference.
Kolarov admits City has been hindered by a packed schedule and freak weather storm which have seen several fixtures postponed, and is aware that the side will have to remain competitive in their 12 remaining games to lift the title.
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Kolarov spoke of his title ambitions ahead of Serbia's international friendly with the Republic of Ireland, where his international teammate Ivanovic also outlined his desire to lift the Premier League trophy.
"I think it will be very tough until the end," Ivanovic said. "OK, Chelsea and Manchester City are fighting for the title, but there are also two more teams.
"It will be very interesting. We will try to stay on top of our game and do our best for our clubs."
Although the duo is competing against each other domestically, Serbia manager Ljubinko Drulovic affirmed that the players' allegiance lies with their country whenever they are called into the international squad.
"They are professionals as you know," Drulovic said. "I need to believe that they will give everything for their team. This is our first game in 2014 and it’s very important for us to start in the best possible way."