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The Government of the Republic of Serbia

In the service of citizens

Economic relations of Serbia, Greece to be raised to the level of cultural and political relations

Belgrade, 26 January 2005

Director of the Serbia Investment and Export Promotion Agency (SIEPA) Jasna Matic stated that the forthcoming conference “Greece-Serbia and Montenegro Partnership Initiative”, which will be held in Athens and Belgrade from February 8 to 11, is expected to raise economic relations of the two countries to the level of cultural and political relations.

Jasna Matic

In an interview to the Danas daily, Matic underlined that the aim of this meeting is establishing contact between business people and creating possibilities for concluding specific business arrangements and representing firms. The meeting will gather Greek and Serbia-Montenegrin businesspeople, investors and government officials, she noted.

She reminded that Greece is the biggest investor in Balkan countries, especially in Bulgaria and that Serbia-Montenegro is at a cross-roads which links Greece with the EU, which should be used to our advantage.

Matic pointed out that there is great interest among EU countries in the possibilities of cooperation with Serbian companies confirmed by the arrival of a large Italian business delegation in October last year. She assessed that as the Partnership Initiative was organised at the highest level it would have great impact.

According to her, there is great interest of Greek companies for cooperation in the sectors of agriculture and energy supply, as well as establishing business arrangements in the finance, banking and insurance sectors. Matic added that there are no greater obstacles for Greek investors on the Serbian market as their banks are already present in Serbia.

The changeable behaviour of local self-government presents a problem to all investors including the Greek, and as regards the legal framework it is adjusted daily to the new business environment. Matic added that in spite of this certain Greek companies are expected to transfer some of their production capacities to our country, as the prices are considerably lower than in the EU, making it a good way for them to reduce production costs.