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Milosavljevic opens Serbia’s stand at Automechanika Frankfurt

Belgrade, 17 September 2008

Serbian Minister of Trade and Services Slobodan Milosavljevic opened the Serbian national stand today at the international car show Automechanika in Frankfurt.

According to a statement issued by the Trade Ministry, 12 Serbian companies are taking part in this leading international automobile fair which has brought together more than 4,600 participants, including the largest world and European producers of cars and car parts.

Speaking at the opening ceremony, Milosavljevic said that the government is determined to create a good business climate which will bring new direct investments to the country, and the agreement with Fiat is just a beginning for Serbia’s return to the European automobile market.

Calling on potential investors to come to Serbia and benefit from good business conditions, the Minister said that the Fiat investment will bring Serbia back on the market as a serious partner in the automobile industry, and huge business opportunities are opening up for car parts producers.

According to Milosavljevic, the Serbian government is ready to offer one more strategic partner the same or similar favourable terms for investments that were offered to Fiat.

After the opening ceremony, Milosavljevic will attend a conference on the automobile industry of south east Europe organised by the German organisation for technical cooperation GTZ.

The Minister will also speak at a round table discussion themed ''Serbian Industry: Current Situation and Development Perspectives” at the Chamber of Commerce and Industry, in which representatives of German banks and companies will take part.

He is also scheduled to meet with director of the Trade and Economic Policy Department at the German Federal Trade Association Monika Drier, as well as with representatives of Metro, one of the largest European trade companies.

The Minister will also visit the headquarters of Stada Pharmaceuticals, the majority owner of Serbia’s largest pharmaceutical company Hemofarm.

The Serbian companies participating at the fair include Autoventil, 21 Oktobar, accumulator factory Sombor, SKL, Fadip, Fritek, Belgrade industry of precision mechanics, Potisje Precizni Liv, Prva Petoletka, Strejt Jusit, Tigar and TPV Sumadija.

The organisation of the Serbian stand at the fair is one of the several activities which will contribute to the successful showcasing of Serbia’s economic potential, encourage development and reduce the trade deficit in accordance with the national strategy for increasing exports for the period from 2009 to 2011.

Part of the funds for financing the Serbian stand at the fair come from the programme for building a national Serbian brand, which was incorporated in the action plan of the Ministry of Trade and Services, concludes the statement.