German companies are planning long-term investments in Serbia

Published on 31. January 2023., News

Germany is Serbia’s first trade partner in the EU and is one of the largest investors, and there are strong economic ties between the two countries, it was said at the meeting of representatives of the Eastern Committee of the German Economy and the Serbian Chamber of Commerce, and it was said that German companies are committed to long-term investments in Serbia.

At the meeting, it was assessed that a more dynamic green transformation is needed and the establishment of a system of incentives for the use of green energy, considering the resources and climatic conditions that Serbia has.

The Director of the Sector for Strategic Analysis, Services and Internationalization of PKS, Mihailo Vesović, presented the German delegation with investment opportunities in Serbia, as well as key macroeconomic parameters and challenges in the business environment.

Vesović said that we will try to maintain and further improve the level of German investments in the Serbian economy.

“Our job is to ensure that business is faster, more efficient and simpler, both through regional initiatives such as the Open Balkans and the Chamber Investment Forum of the Western Balkans, as well as through submitting initiatives to the government in the best interest of the economy,” said Vesović.

The director of the German-Serbian Chamber of Commerce in Serbia, Aleksandar Markus, stated that the German companies operating in this market are committed to long-term investments and plan to continue their business.

Germany is the main export partner

Bojan Stanić, Assistant Director of the Sector for Strategic Analysis of the Serbian Chamber of Commerce, stated that in 2022, Serbia achieved a very high deficit in total foreign trade goods exchange of almost 10 billion euros, caused primarily by high energy prices.

But, as he stated, this was compensated by a significant surplus in the exchange of services, as well as a high inflow of foreign direct investments and remittances.

“Serbia’s trade in goods was the largest with the countries with which Serbia has signed free trade agreements, while the member countries of the European Union participated with about 60 percent of the total exchange. The main individual foreign trade partner in Serbia’s exports was Germany, followed by China and Italy”, says Stanić.

The delegation of the Eastern Committee of the German Economy included director Michael Harms and regional director for Southeast Europe Awa Quiring.

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