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The Government of the Republic of Serbia

In the service of citizens

Israeli businessmen show great interest for investing in Serbia

Belgrade, 24 March 2005

Serbian Minister of International Economic Relations Milan Parivodic said today that the visit by a Serbian state business delegation to Israel was very productive, that there is a great interest in investing in Serbia's economy and significant potential for improving economic cooperation between the two countries.

Parivodic told a press conference that during last week’s three-day visit to Israel at the invitation of Israeli Deputy Prime Minister Ehud Olmert, the Serbian state business delegation gave Israeli businessmen a presentation on the investment climate in Serbia and its potential for investments in energy, trade, tourism, mining and civil engineering.

The Serbian delegation met with representatives of five multinational companies including the RAB factory for high technologies, which is interested in development of computer chips in Serbia, the Alvarion telecommunications firm, the Institute for Agriculture Development, the Africa-Israel conglomerate, and the Bateman company, which is especially interested in Serbia's refineries.

Serbian Deputy Minister of Agriculture, Water Management and Forestry Danilo Golubovic said that cooperation with Israel in this field has intensified since the beginning of the year and added that representatives of a leading Israeli company for production of greenhouses and irrigation systems announced the opening of a branch office in Belgrade.

Golubovic also mentioned a visit to the Israeli Ministry of Agriculture’s Institute for Agriculture Research, where an agreement on cooperation in the production of seeds was reached.

Deputy Minister of Energy and Mining Djordje Mihajlovic stressed that the Bateman corporation is especially interested in the refineries in Pancevo and Novi Sad, the Petrochemical Industry in Pancevo and for partnerships in the field of mining.

Deputy Minister of Trade, Tourism and Services Vlajko Senic said that a tourist offer of Serbia on the basis of cultural and historical heritage was presented. He announced that a delegation of the Ministry of Trade and leading Serbian tourist agencies will visit Israel from May 15 to 22, with the aim of concluding concrete contacts.

Assistant Minister of Capital Investment Branimir Uljdur said that the ministry offered the Israelis projects worth €500 million, which are important both for Serbia and Europe and include the construction of part of Corridor 10, from Nis to the Bulgarian border. He added that Israeli partners showed the most interest in the construction of business space and apartments, as well as for construction of a marina on the Danube River.

Assistant Minister of Finance Vladimir Vukojevic pointed out that there is an interest to make an agreement on abolishing twofold taxation between the two countries because Serbia’s trade exchange with Israel is on the increase. According to Vukojevic, the Israeli parliament will soon verify a decision guaranteeing the investments of Israeli companies in Serbia.