Nenad Đurđević, advisor to the president of the Serbian Chamber of Commerce (PKS), highlighted the significant role of the CEFTA region for Serbian businesses, with more than 13,000 companies operating there. Đurđević emphasized that for many Serbian companies, venturing into the CEFTA market serves as their crucial first step towards international expansion.
“The importance of the CEFTA market for the Serbian economy extends beyond just numbers. For many Serbian companies, entering this market represents their inaugural and most pivotal stride towards international business, albeit not entirely novel considering the historical economic ties of our former common country. Taking this step forward signifies a test of their competitiveness and the initial challenge in penetrating the demanding European market,” stated Đurđević to the Beta agency.
He emphasized the dual significance of CEFTA for its member states. “In addition to fostering business growth, companies operating in the CEFTA region glean valuable practices and often find themselves competitive in the European Union (EU) market as well.” He recalled the founding members of CEFTA—Bulgaria, the Czech Republic, Hungary, Romania, Poland, Slovakia, Slovenia, and Croatia—and highlighted its temporary nature as a prelude to EU entry, urging the Western Balkan countries to achieve the necessary reforms, which unfortunately remain unfulfilled.
Đurđević underscored the CEFTA market’s importance for Serbia, noting that the trade exchange between Serbia and CEFTA members reached 6.46 billion euros in 2023. He mentioned a notable surplus in goods exchange between Serbia and CEFTA members, reaching 2.99 billion euros last year, driven by reduced imports from CEFTA markets and increased exports to Montenegro and Albania.
Serbia exported goods predominantly to Bosnia and Herzegovina (1.96 billion euros), Montenegro (1.22 billion euros), and North Macedonia (954 million euros), while imports were primarily from Bosnia and Herzegovina (1.02 billion euros) and North Macedonia (429 million euros).
Key export products included mineral fuels, oils, and waxes, alcoholic drinks, road vehicle accessories, machinery, electrical equipment, plastics, and metal products, while imports comprised mineral fuels, iron, steel products, wood products, plastics, and pharmaceuticals.
Đurđević highlighted the substantial contribution of the processing sector, wholesale and retail trade, and energy sectors to Serbia’s exports to the CEFTA region. Despite the agreement being in place since 2006, significant changes in import-export structure have been limited to sectors with substantial foreign investments.
He stressed the necessity of higher forms of economic cooperation, such as joint ventures and partnerships, among companies in the region, promoting investment to create a conducive business environment.
Đurđević voiced concerns over unresolved political issues, particularly between Belgrade and Pristina, affecting regional cooperation and CEFTA implementation. The ban on Serbian goods entering Kosovo* further exacerbates economic challenges, with estimated damages reaching 157.5 million euros in 2023.
Goran Petković, a professor at the Faculty of Economics in Belgrade, emphasized CEFTA’s role in facilitating trade and preparing businesses for EU markets, emphasizing Serbia’s surplus within CEFTA and the need for deeper political and economic integration in the region.
Milojko Arsić, another professor at the Faculty of Economics in Belgrade, highlighted the mutual benefits of CEFTA, stressing the need to address non-tariff barriers and enhance regional cooperation.
With Serbia assuming the CEFTA presidency in 2023, renewed efforts are expected to further strengthen economic ties and promote regional integration.
