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The Government of the Republic of Serbia

In the service of citizens

Slovenia’s first greenfield investment in Serbia

Belgrade, 23 June 2004

The Slovenian chemical producer JUB will open a paints and varnish factory in Simanovci today in Slovenia’s first greenfield investment in Serbia. The value of the investment is €6 million and the plant will employ 45 people, while some three-quarters of its output will be exported, according to a meeting of the Slovenian business club in Belgrade late on Tuesday.

Serbian Minister of Trade, Tourism, and Services Bojan Dimitrijevic said at the meeting that 27 Slovenian firms have so far invested around €120 million in Serbia and he called on Slovenian companies to take part in the privatisation of Serbian hotels.

Dimitrijevic said that Slovenia’s accession to the European Union (EU) will hinder the sales of Slovenian products in Serbia to some extent, but that it will make it easier for Serbian exporters to sell goods in Slovenia, thanks to changed customs regulations.

He recalled that Serbian trade balance with Slovenia has improved this year, compared with 2003, with the value of exports equaling 40 percent of the value of imports from Slovenia.

Slovenian Minister of European Affairs Milan Cvikl said that Slovenia will back Serbia-Montenegro’s accession to the EU and help the state union to carry out all necessary reforms.

According to Cvikl, the arrival of Slovenian firms to the Serbian market will facilitate Serbian exports to the EU, which he said is poised to become a federation of economic regions.