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The Government of the Republic of Serbia

In the service of citizens

Internationalisation of SMEs to increase competition

Belgrade, 14 October 2008

Serbian State Secretary at the Ministry of Economy and Regional Development Dejan Jovanovic stated today that the internationalisation of small and medium enterprises (SMEs) will increase the level of competition in order to decrease foreign trade deficit, because those enterprises make up more than 50% of the overall export.

At the presentation of the project themed “Training and Technical Support to Public Administrations in the Balkans regarding Internationalisation of SMEs” held at the Italian institute Palazzo Italia, Jovanovic said that the project is financed from Italian funds and stressed that Italy is Serbia’s most important export market.

According to him, Italy holds the 3rd position in trade exchange with Serbia, and after the Fiat company invested in Zastava, it reached the 3rd or 4th position on the list of investors.

He said that considering the importance of economic cooperation between Serbia and Italy, the two countries are currently negotiating teh formation of an Italian table in the Ministry of Economy and Regional Development.

Italian Ambassador Alessandro Merolla noted that this year Italy mostly invested in banks, insurance companies and SMEs, adding that Fiat’s will be the first large investment which will help the Sumadija region to develop. Merolla recalled that 90% of Serbian companies took advantage of the Italian government’s credit line of €32.5 million, intended for the procurement of Italian equipment under very favourable terms. He said that now that these funds are used up, the second credit line of €30 million has been initiated, which will also be at the disposal of municipalities and public utility companies for the distribution of gas, electricity and water, environmental protection, waste recycling and wastewater treatment.

President of the Italian Foreign Trade Institute Umberto Vattani said that together with the Dante Alighieri society training courses will be organised for 52 participants from various institutions from Balkan countries, 10 of whom will be from Serbia.

He said that the aim of the project is to increase the efficiency of local authorities to plan and implement projects for internationalising SMEs by strengthening economic ties with Italy.

According to Vattani, participants will attend Italian language courses and lectures on the expansion of SMEs abroad, and will travel to Italy to visit clusters.

Head of the projects sector Marina DiMaggio said that two marketing tourism courses have already been held in Serbia under this programme, and marketing courses related to fields such as export, strategic cooperation, finances and joint investments will be held during the next two years.

She stressed that SMEs are Italy’s national brand because they are 90% of the total industry, and the state supports their internationalisation, and it is with a similar aim that the project has been launched in the Balkans.