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The Government of the Republic of Serbia

In the service of citizens

Serbia joins EIP

Belgrade, 27 November 2008

Serbian Minister of Economy and Regional Development Mladjan Dinkic and Vice-President of the European Commission responsible for Enterprise and Industry Gunter Verheugen today signed a Memorandum of Understanding on Serbia’s participation in the Entrepreneurship and Innovation Programme (EIP).

Dinkic said that Serbia’s participation in the EIP will help SMEs to obtain favourable loans from European banks.

He added that apart from funds, primarily from the European Investment Bank, Serbian enterprises will also receive technical support for the improvement of competition and innovation.

The Minister pointed out that the programme is of great importance, considering the fact that SMEs employ more than 1.3 million people and make up 50% of Serbia’s exports.

Verheugen explained that SMEs in Serbia will have full access to EU financial instruments for better business and the development of innovative potential.

He said that the programme will also make it possible for Serbian businesses to access the European SMEs network and form useful contacts.

Serbia has made the right choice in joining the EIP because competition and innovation in the performance of SMEs will pave the way to the EU, said Verheugen.

The EIP is part of the Competitiveness and Innovation Programme intended to help develop the competitiveness of European companies over the period 2006–2013.