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The Government of the Republic of Serbia

In the service of citizens

US Commercial Centre declares Serbia-Montenegro Market of the Month

Belgrade, 25 January 2006

The Serbian Investment and Export Promotion Agency (SIEPA) announced today that the US Commercial Centre, a specialised agency of the US Department of Commerce, has declared Serbia-Montenegro the Market of the Month among the competition of 150 countries.

The network of the US Commercial Centre comprises 107 American centres for export assistance throughout the USA and 150 offices abroad. Last year they enabled 23 billion dollars worth of exports for the US and organised around 150,000 meetings with representatives of American companies, reads the statement.

This recognition places Serbia-Montenegro in a group of economically developed countries which American partners can seriously count on. Markets of the Month in 2005 were Holland, Australia, Morocco, River Plate and the Baltic market, and in 2004 Singapore, Israel, Portugal, Turkey, Ukraine, South Africa and Chile, says the statement.

SIEPA has helped create a web presentation of the Serbia-Montenegrin market at the official website of the US Commercial Centre. The direct link to the presentation can be found at the SIEPA website www.siepa.sr.gov.yu.

Within the Market of the Month promotion campaign, the US Commercial Centre will contact their offices in all 150 countries and forward this information to its electronic database which comprises 14,000 business addresses from all over the world.

SIEPA Director Jasna Matic said it is very important that an influential and large organisation such as the US Department of Commerce has declared Serbia-Montenegro the Market of the Month.

American companies greatly rely upon the detailed information on world markets provided by the Department, and this recognition will be a further incentive for renewing and intensifying trade cooperation between Serbia-Montenegro and the US. This will undoubtedly help increase American investment in Serbia, but also Serbia's exports to the US, stressed Matic.

She pointed out that since 2000, American companies have invested over $1.3 billion in Serbia-Montenegro, thus making the US the largest foreign investor in the country. This new recognition once again confirms the quality of the trade and economic relationships between the two countries.

The US Commercial Centre has pointed to the "aggressive reforms" that Serbia-Montenegro conducted to become the regional centre and crossroads linking together Europe with southeast Europe, Turkey, Greece and the Middle East, adds the statement.