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Serbia makes major progress in EU integration
Belgrade,
1 April 2008
Serbian Minister of Trade and Services Predrag Bubalo said today that an atmosphere has been created in Serbia in which businesspeople will determine the country’s future.
Speaking at a roundtable discussion on the sustainable development of Belgrade and Serbia which was held at the Serbian Chamber of Commerce, Bubalo said that Serbia cannot go back in time because the socio-political structure of the country has changed from socialism to capitalism.
According to Bubalo, Serbia has made major progress in the process of EU integration since a large number of firms have been privatised during the previous period and currently nearly 2,000 foreign and numerous domestic firms are doing business in Serbia.
The Minister said that every foreign company that came to Serbia brought its own production standards and procedures from the EU and works according to them, and domestic companies which export to the European market had to adjust to European standards in order to survive.
Serbia needs economic growth of 7%, a 17% growth in exports and at least $2 billion annually in FDI during the upcoming years in order to reach the level of countries in the region, said Bubalo.
He said that construction of the Horgos-Pozega motorway and implementation of the energy agreement with Russia could lead to far more FDI than is needed.
According to Bubalo, Serbia has made major progress in the process of EU integration since a large number of firms have been privatised during the previous period and currently nearly 2,000 foreign and numerous domestic firms are doing business in Serbia.
The Minister said that every foreign company that came to Serbia brought its own production standards and procedures from the EU and works according to them, and domestic companies which export to the European market had to adjust to European standards in order to survive.
Serbia needs economic growth of 7%, a 17% growth in exports and at least $2 billion annually in FDI during the upcoming years in order to reach the level of countries in the region, said Bubalo.
He said that construction of the Horgos-Pozega motorway and implementation of the energy agreement with Russia could lead to far more FDI than is needed.
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