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The Government of the Republic of Serbia

In the service of citizens

“Serbia’s Best Brands” an event to make domestic economy more competitive

Belgrade, 21 November 2006

Serbian Minister of Trade, Tourism and Services Bojan Dimitrijevic said today that this year, for the third time, the event “Serbia’s Best Brands” will be held as a joint action of the Ministry, Serbian Chamber of Commerce and the daily economy newsletter “Pregled”.

Author: Tanjug

Dimitrijevic told a press conference that the aim of the action is to make the domestic economy more competitive in the international market by strengthening brands, which has already reaped results during the previous two years, leading to growth in trade and production.

He pointed to the fact that this year a novelty has been introduced, and now best foreign brands may also compete for awards under the condition that they undertake production in Serbia, and employ a work force from Serbia as a result of their investment.

Dimitrijevic said that companies may apply for the competition by the end of the month, while the ceremony for handing out awards for the best corporate brand, best trade mark, and best corporate brand in services will be held on December 20.

According to Dimirtrijevic, consumer surveys conducted by the market research agency GfK and the Faculty for Economics will also be taken into account besides official criteria.

The Minister pointed to the fact that all products are Serbian brands which are best known in the market, have loyal consumers and are sold and exported successfully. He recalled that a tourism brand for Serbia is being created, within the National Investment Plan.

Deputy jury president Stipe Lovreta explained that trade marks will be judged according to criteria of the international branding consultancy “Interbrand”, while two domestic criteria have been added – profitability and export activity.

Lovreta recalled that companies which were declared the best last year had export proceeds in the amount of €500 million. He stressed that branding is a powerful way of giving a product a competitive edge in the market because it rests upon consumer awareness, and is based on differences in comparison to competitors.