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The Government of the Republic of Serbia

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Bubalo opens international textile fair

Belgrade, 13 October 2006

Serbian Minister of Economy Predrag Bubalo opened last night the international fair of textile, clothing, leather, footwear and equipment and announced that by end-2006 all textile factories in Serbia will be privatised which will help revive this industry.

Bubalo said there are 210 exhibitors at the fair, out of which 45 are from abroad, which is another proof that Serbia has an attractive business atmosphere. The fair's slogan "Born Again" reflects the current situation in the Serbian textile industry.

Thanks to satisfactory organisation of small and medium-sized enterprises in the process of privatising textile plants, as well as creativity, inventiveness and increased production, the textile and leather industry is coming back to life and the reduction of the grey zone is also anticipated, said the Minister.

He said that goals are yet to be scored at the match taking place on the European market.

Bubalo recalled that in the past two years, the Serbian government managed to create an atmosphere that attracted investors and showed that it is possible to work successfully and safely in Serbia.

According to Bubalo, the government and the Ministry of Economy have started public presentations of the Serbian National Development Strategy, which is to be adopted by year's end and which will define the guidelines of economy development in the next six years.

The fair began with a fashion show at which fashion company Mona presented its Tesla collection by Olja Ivanicki and Beba Kids company showed its collection of children's clothes.