Serbia and Bavaria continue to foster a long-standing and productive relationship, marked by robust economic ties, high trade volumes, and significant Bavarian investments in Serbia. In 2023, trade between the two regions reached 1.5 billion euros, while around 25,000 people are employed in Bavarian-owned companies operating in Serbia, underscoring the importance of their collaboration.
This was highlighted during the Serbia-Bavaria Permanent Commission meeting held on November 27 and 28 in Munich. A key outcome of the summit was the signing of a protocol aimed at enhancing bilateral cooperation over the next three years. The protocol was signed by Gojko Stanivuković, State Secretary in Serbia’s Ministry of Finance and co-chairman of the Permanent Commission, and Eric Bijswenger, State Minister for European and International Affairs in the Bavarian State Office.
The agreement outlines areas of future cooperation, including economic development, construction, transport, state administration, justice, education, science, culture, agriculture, environmental protection and consumer issues.
“About a third of all employees in German companies in Serbia work for companies with capital from Bavaria, which emphasizes the importance of our partnership with Bavaria,” Stanivuković noted after the summit, where he also presented Serbia’s recent economic achievements.
He highlighted Serbia’s successful investment track record and the ongoing implementation of the “Leap into the Future – Serbia 2027” development plan, which is preparing the country to host the specialized EXPO 2027 exhibition.
Despite global economic challenges, Stanivuković stressed that the Serbian government is committed to maintaining a stable and attractive environment for both domestic growth and foreign investment, ensuring macroeconomic and fiscal stability. He noted that Serbia’s public debt is under control at 46.5% of GDP, with expected GDP growth of 3.8% in 2024. Unemployment in the country stands at 8.1%, while the employment rate has surpassed 51%.
Stanivuković reaffirmed Serbia’s commitment to European Union membership and emphasized that the government is accelerating its European integration processes, with the aim of meeting all membership criteria by 2027. He also pointed to the Growth Plan for the Western Balkans, which aims to foster regional cooperation and provide financial support through favorable loans and grants to aid Serbia’s reform agenda.
The Serbia-Bavaria Permanent Commission, which is the oldest of its kind between Serbia and a German state, has played a crucial role in strengthening bilateral ties for over 50 years. The next session of the Permanent Commission will be held in Belgrade.
