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The Government of the Republic of Serbia

In the service of citizens

Greek investors willing to invest €3bn in Serbia

Belgrade/Athens, 1 April 2008

Serbian Deputy Prime Minister Bozidar Djelic said today that Greek companies and investors are willing to invest nearly €3 billion in Serbia during the next three years, which would create thousands of new jobs and increase Serbia’s exports.

In a statement to the news agency Beta via telephone, Djelic said that with investments worth €1.8 billion, Greece is the third largest investor in Serbia, while more than 120 Greek companies are doing business in the Serbian market in the areas of telecommunication, finance, tourism, real estate and the textile industry.

He said that at a meeting organised by the Greek-Serbian business council, more than 120 Greek businesspeople pointed out the problems they have doing business in Serbia such as the slow pace of administration and difficulties in obtaining construction licenses.

Djelic said that he received support from the Athens Chamber of Commerce for removing the €35 tax on Serbian citizens for obtaining a Schengen visa from May this year. He voiced hope that the Greek government and other countries will accept this initiative.

I presented Serbia’s policy on the issue of Kosovo-Metohija to Greek officials and asked them not to accept the violation of international law and the independence of the southern Serbian province, said the Deputy Prime Minister.

He said that he met with advisor to the president of the European Commission whom he requested to introduce free of charge visas for Serbian citizens.

According to Djelic, the next step in Serbia’s association with the EU could be taken in April, when EU representatives will be able to determine which further steps must be taken in order to remove visa restrictions for Serbian citizens by the end of 2008.

We also spoke about the signing of the Stabilisation and Association Agreement (SAA), but for the time being there are no specific steps in relation to it, Djelic said and recalled that a police action last week in Nis showed again that Serbia is dedicated to cooperation with the Hague tribunal.

Djelic met with President of the Athens Chamber of Commerce, representatives of nine companies, Deputy Minister of Foreign Affairs and representatives of the Greek Ministry of Economic Development and Ministry of Interior.

Earlier today, Djelic said that there may be investments in agriculture, real estate, tourism and industry and added that the Athens Chamber of Commerce supports his initiative to make Greek visas for Serbian citizens free-of-charge this summer.

According to him, the Athens Chamber of Commerce will send a letter to the Greek Ministry of Foreign Affairs asking it to issue visas to Serbian citizens free-of-charge.

Djelic also said that in order to increase investments at local level, it is necessary to adopt a new law on concessions, as well as to solve the problem of issuing construction licences.

He said that Greek businessmen wanted to know when Serbia will adopt European standards and at which speed it will move towards membership in the EU.

President of the Athens Chamber of Commerce Constantin Michalos said that Djelic encouraged Greek companies to continue investing in Serbia and added that in the next few years an increase in Greek investments in Serbia can be expected.