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The Government of the Republic of Serbia

In the service of citizens

Cooperation with EU on increasing competitiveness of SMEs

Belgrade, 17 May 2023

Minister of Economy Rade Basta talked today with Head of the European Union Delegation to Serbia Emanuele Giaufret about Serbia's European path and reforms in the field of the economy.

Basta pointed out that Serbia is making great efforts in order to achieve visible results in the transformation and development of the economy, improving the business environment and the quality of life of citizens.

The economy is the pillar of every society and our perseverance on the European path is reflected in the reforms we are implementing. This is precisely why alignment with the EU's foreign and security policy is important in order to continue progress, he said.

The Minister pointed out that greater transparency and better familiarisation of Serbian citizens with the financial incentives provided by the EU are of essential importance on our European path, while the issue of energy diversification and green transition is also very important for the improvement of the Serbian economy.

We cannot allow a monopoly and to depend on one supplier. The Western Balkans can undoubtedly be the engine of the development of the entire EU, but a complete new energy infrastructure with new technologies is necessary, he emphasised, adding that issues of media freedom and the rule of law are also very important for us.

Basta also pointed out the importance of the "Serbia and EU - Equipment for the Economy" programme, adding that the goal is for the government to pass a decree as soon as possible that will allow the remaining funds to be spent.

He emphasised that the goal of our country is EU membership, especially bearing in mind that the Union is Serbia's first and largest trade partner.

Basta specified that the total foreign trade exchange with EU countries in 2022 amounted to €39.1 billion, which is an increase of 27.7 percent compared to 2021.

Giaufret expressed the readiness of the EU to continue the cooperation started with the Ministry of Economy on the implementation of the Programme "Serbia and the EU - Equipment for the Economy" for greater competitiveness of small and medium-sized enterprises (SMEs), as well as to continue joint work on concluding an agreement on the participation of the Republic of Serbia in the Single Market Programme.