Source: Tanjug | Friday, 21.02.2020.| 10:37
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Serbia largest trade partner of Austria in the region – Increase of investments in our country expected in 2020

Illustration (Photo: Edhar/
With a trade volume of EUR 1.1 billion, Serbia was the largest trade partner of Austria in the region in the first three quarters of 2019, it was said at the presentation of the results of the survey of companies' trust, organized by the Embassy of Austria.

In the first ten months of 2019, Austrian exports to Serbia grew by 16%, whereas the exports from Serbia to Austria grew by 30%, it was said.

In Serbia, Austria has more than 400 subsidiaries and is one of the largest investors, and representatives of 80 companies took part in the survey.

In the survey, presented by the commercial counselor at the Embassy of Austria, Erika Teoman-Brenner, Austrian companies identified the fields of legal security and fight against corruption and bureaucracy as the fields where they encounter the most problems in their operations in Serbia.

They highlighted the market infrastructure, awareness of quality and purchasing power as the fields which need to be reformed urgently.

That the lack of qualified workforce, not just engineers, but craftsmen as well, increasingly so, is one of the growing problems in Serbia was emphasized by the director of the logistics company Quehenberger, Vladimir Varicak, and the director of wood materials company JAF, Melanija Pavlovic.

A total of 89% of the Austrian companies surveyed do not regret their investments and operations in Serbia, and 40% expect to increase the investments this year.

The chambers of commerce of Austria and Serbia have already helped 3,000 students get access or enter the process of getting access to professional studies at schools and companies in Serbia through the dual education program, it was said at the presentation.

A new contribution to the economic cooperation of Austria and Serbia will be given by Peek & Cloppenburg, a German fashion brand, which is developing in the region from Austria and which is to arrive to Serbia on April 9 through a location at the Beo Shopping Center.
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