Over 80 percent of French investments in the Western Balkans are concentrated in Serbia. The relationship between France and Serbia has evolved through various historical phases, but today, it is characterized as friendly. As French President Emmanuel Macron prepares for his second visit to Serbia in five years, the current investment landscape is clear: Serbia boasts €1.2 billion in French investments. According to the Franco-Serbian Chamber of Commerce, France has been among the top 10 largest investors in Serbia over the past decade.
In the first nine months of this year alone, French investments in Serbia have surpassed €50 million. Notably, trade between the two countries is on the rise, with the exchange reaching €1.6 billion last year. This is positive news for Serbia, which enjoys a trade surplus with France, exporting more than it imports. Michelin, a major player, significantly contributes to this surplus with its exports. Presently, around 120 French companies operate in Serbia, employing approximately 13,000 people. These investments span various sectors, including energy, transportation, infrastructure and more, with notable projects like the smart grid implementation and the sanitary landfill in Vinča.
The most significant cooperation between France and Serbia has been in the automotive and food industries. Exports to France amount to about €1 billion. Historically, raspberries were Serbia’s top export to France, but recently, software has taken the lead, reflecting the country’s growing IT sector and digitalization efforts, according to Marko Čadež, President of the Serbian Chamber of Commerce (PKS).
The upcoming meeting between Presidents Macron and Vučić will likely focus on several key issues. These include France’s support for Serbia’s transition to a green economy, French involvement in the construction of the Belgrade subway, discussions about the Belgrade airport, and the potential procurement of military aircraft. The anticipated sale of 12 aircraft, valued at around €3 billion, is expected to be a major topic of discussion, as it represents a significant financial gain for France and a strategic enhancement for Serbia.
Strahinja Subotić from the Center for European Policies suggests that Macron’s visit is likely linked to these ongoing negotiations. He believes that Macron’s visit would be aimed at finalizing key agreements and offering encouragement for Serbia’s continued progress towards EU integration.
Five years ago, when Macron visited Belgrade, the two nations celebrated 180 years of diplomatic relations. During this visit, scheduled for Thursday and Friday, Presidents Macron and Vučić will address cooperation on political, defense, artificial intelligence, and energy fronts.
