The Japanese Business Alliance in Serbia (JPAS) is strategically enhancing cooperation with Serbia to bolster its presence in the European market. Goran Pekez, President of JPAS and Director of Corporate Affairs at Japan Tobacco International (JTI) for the Western Balkans, emphasized the significance of a new investment protection agreement. This initiative aims to elevate Serbia’s profile as an attractive investment destination, attracting further Japanese investments.
Presently, Serbia hosts approximately 30 Japanese companies and over 60 entities engaged in import and distribution, collectively employing more than 4,000 people. In Vojvodina alone, six Japanese firms are contributing significantly to local economies in Senta, Sremski Karlovci, Novi Sad, Ruma, and Inđija. Bilateral trade between Serbia and Japan amounts to around 330 million euros annually, with Serbian exports to Japan nearing 90 million euros. Pekez anticipates exports exceeding 200 million euros soon, underscoring Japan’s substantial direct investments in Serbia, totaling 420 million dollars over the past three years.
Japanese officials view Serbia as a gateway to Central Europe, driving their interest in deeper economic cooperation. They are particularly keen on investing in Serbia’s textile, machinery, food, energy, green technologies, and innovative agriculture sectors. A forthcoming large-scale business delegation from Japan in October, led by JETRO, signals an intent to solidify bilateral ties further. Moreover, Serbian academia shows growing enthusiasm for collaboration with Japan, fostering opportunities for scientific and educational partnerships.
The longstanding diplomatic relationship since 1882, coupled with mutual aid during crises like Fukushima and Serbian floods, underscores the strong friendship between Serbia and Japan. Japanese companies are recognized as exemplary employers in Serbia, contributing to technology transfer and elevating professional standards. Serbia’s favorable investment environment, backed by robust industrial traditions and government support, continues to attract successful Japanese enterprises. Recent entrants like Toyo Tires, Nidec, Yazaki, and Mayekawa exemplify Japan’s sustained commitment to Serbia’s economic growth and regional partnership in the Western Balkans.
