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The Government of the Republic of Serbia

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Preparation of national innovation strategy by Ministry of Economy

Belgrade, 22 March 2007

Serbian Assistant Minister of Economy in the Sector for competitiveness and cooperation with international institutions Mihailo Vesovic said today that the Ministry is drafting a national innovation strategy.

Speaking at the first working forum of the Black Sea Economic Cooperation (BSEC) dedicated to competitiveness and innovations, Vesovic said that the strategy is being drafted as support to businesspeople in improving and modernising business methods, because the introduction of innovation and achieving competitiveness are necessary for the development of Serbian economy.

He stressed that the future of Serbian economy should be built on innovation and not on low cost production as until now, and due to that improved production and provision of more valuable services can provide an edge in competition.

He recalled that the state, as contribution to the development of economy and increasing employment and exports, supported the project of encouraging the growth of clusters, and this year it is envisaged that budgetary funds in the value of €120,000, as well as an additional sum of €500,000 donated by the Norwegian government, will be used for this purpose.

According to Vesovic, clusters are an efficient means to increase innovation because they are directed towards the realisation of joint projects and strategic partnerships between companies and research and development institutions.

Vice President of the Serbian Chamber of Commerce Radmila Milivojevic summed up the review of the innovative activities by Serbian companies carried out in cooperation with the EU programme for development of entrepreneurship by saying that it has been noticed that there is a low level of awareness regarding innovation in the Serbian economy.

The BSEC forum which gathered more than 60 participants from BSEC member countries, the EU and Serbia, was organised by the BSEC Business Council and the Serbian Chamber of Commerce, with the support of the Serbian Ministry of Foreign Affairs and the Serbian ministries of economy and science and environmental protection.