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The Government of the Republic of Serbia

In the service of citizens

Several new companies to enter Serbian market next year

Belgrade, 13 December 2005

Director of the Serbian Investment and Export Promotion Agency (SIEPA) Jasna Matic said today that several larger foreign companies are expected to enter the Serbian market in the course of 2006.

Speaking at a press conference, Matic said that talks will soon be concluded with a Japanese company that wishes to invest in the car parts manufacturing industry in Serbia, as well as with an Italian company who is interested in the textile industry. Talks with several foreign investors concerning their possible investments into the food industry are also under way.

According to Matic, SIEPA plans to form an association of exporters next year, continue its work on establishing contacts between Serbian companies and foreign partners, as well as help Serbian manufacturers to attend specialised exhibitions world wide.

Together with the Serbian Ministry of Agriculture, Forestry and Water Management, SIEPA will enable several Serbian companies to take part in five or six exhibitions in Europe, as well as the exhibition in Dubai, announced Matic, adding that they are also planning for Serbian producers to participate in exhibitions of software, the textile and wood industries and furniture.

She specified that each organised promotion of domestic companies abroad will receive assistance of €50,000 from SIEPA.

Speaking about the 2005 "Exporter of the Year" award, she said that SIEPA gave this award to US Steel Serbia, who this year exported one million tonnes of steel into 40 countries, which is 25 percent more than in 2004.

The award for the "Exporter of the Year" in the category of small and medium-sized enterprises went to MikronasNIT from Novi Sad. This company exported its entire software output, which was increased by 30 percent against last year.

The Sombor Accumulator Factory (FAS) was awarded the "New Export Product of the Year" award, said Matic and added that FAS sold €5.5 million worth of goods in foreign markets this year.

According to Matic, the "Exporter of the Year" award for new market breakthrough went to the Nektar company from Backa Topola, who started exporting its products to Hong Kong this year, and achieved great success there.