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The Government of the Republic of Serbia

In the service of citizens

Successful appearance of Serbian car industry at Frankfurt

Belgrade, 29 September 2008

The Serbian Investment and Export Promotion Agency (SIEPA) stated that representatives of this agency and 12 Serbian companies met with representatives of Volkswagen and Peugeot Citroen in the course of the Automechanika 2008 car show in Frankfurt.

The statement adds that representatives of the Peugeot Citroen’s department for cooperation with foreign suppliers Frederick Mott and Patrick Ginot presented their company and the strategy for non-EU suppliers, and informed Serbian companies on the requirements of the Peugeot Citroen Group.

We currently have three suppliers from Serbia and we are very pleased with our cooperation with them, said Mott adding that Peugeot Citroen sees Serbia as a reliable partner with a long tradition in the automotive industry.

Our strategy is to extend our list of suppliers from low cost countries, such as Serbia, he added.

SIEPA representatives informed their collocutors on investment climate in Serbia and advantages of doing business there, and each of the 12 Serbian companies held a meeting with Volkswagen and Peugeot Citroen representatives.

Serbian companies had several hundred individual meetings during the 16-day car show in Frankfurt which resulted in over 30 strong contacts, which will probably lead to new contracts.

Also present at the exposition was Minister of Trade and Services Slobodan Milosavljevic, who officially opened the Serbian national stand.

SIEPA organised the participation of the Serbian companies and the Chamber of Commerce endorsed it together with the Serbian Automotive Cluster and USAID Competitiveness Project, adds the statement.

The 12 companies that were presented at the car show and met with Volkswagen and Peugeot Citroen representatives are Sumadija, Autoventil, FADIP-HKC, Tigar, Streit Jucit, Fritech, IPM, PPT Hydraulics, Potisje Investment Castings, FKL, 21. Oktobar and FAS.