Serbia Main Country in Balkans in Which France Invests – We Get 70% of Its Investments

The relations of France and Serbia are strong, the trade has reached nearly EUR 2 billion, said the ambassador of France to Serbia, Pierre Cochard.

– When it comes to trade, in 2022, our trade grew 34.2% compared to the previous year and is now getting closer to an amount of EUR 2 billion – Cochard said at the ceremony organized by the Chamber of Commerce of Serbia (CCIS) and the company Coface on the occasion of 10 years of cooperation and the existence of the EXCELLENT SME certificate in Serbia.

He said that the relations of the two countries were especially solidified with the agreement on financial support from 2019, whose aim was to strengthen the economic ties.

As he pointed out, a large number of French companies operates in Serbia, and the exports are increasing with each year.

He specified that, at that moment, there were 120 French companies operating in Serbia, employing 12,000 people, and highlighted Vinci as an example of good practice.

– Small and medium French companies need to be encouraged to do more business with Serbia and be braver when it comes to investments. It is up to us to attract those companies – Cochard said.

The minister of economy of Serbia, Slobodan Cvetkovic, said that that day’s event continued a tradition over 10 years long and that the EXCELLENT SME certificate in Serbia was a testament to the continuous work and dedication.

– Through the issuing of these certificates, the CCIS provides a very important instrument of support to small and medium enterprises in Serbia, which enables a clear marking of own credit-worthiness and contributes to increasing their transparency in the market. An awarded certificate has a key role in improving the digital presence and harmonization with EU directives for promoting successful small and medium enterprises – Cvetkovic said.

He emphasized that, in synergy with Coface Serbia, an approach to securing quality information and ratings behind that certificate was being realized.

He pointed out that the aim was for Serbia to be recognized as fertile ground for investments and a country with a stable economy which is ready to get involved in advanced global flows and take active part in the global market.

– This year, the Ministry of Economy has set aside RSD 3.4 billion in grants for supporting the sector of small and medium enterprises and entrepreneurs. We are realizing four support programs which are a combination of grants from the budget and favorable loans from the Development Fund or commercial banks, for the procurement of the equipment, for development projects, for assisting beginners and young people in business and for improving female entrepreneurship – he said.

Cvetkovic also said that the Government of Serbia had adopted the strategy of the development of small and medium enterprises and entrepreneurs until 2027 with an action plan for the next year, which defines the policy of the growth of this sector through principal goals and concrete measures, along with an increase in the number of companies and employees.

The adviser to the president of the CCIS, Milun Trivunac, emphasized that the “EXCELLENT SME” certificate sign enabled quicker decision-making, increased market transparency and promoted good business customs and pointed out that, in Serbia at that moment, 667 micro, small and medium enterprises had that certificate.

– Those are fast-growing companies with a formed serious and quality offer which is conquering both the region and the world. Successful implementation of these and similar projects in the domain of creating a business environment and the mutual respect and honest friendship between our countries have resulted in the fact that France has recognized Serbia as the most vital economy in the region, as the leading promoter in the fields of internationalization, digitization, dual education and regional economic integration – Trivunac said.

He pointed out that, according to the data of the Serbian Business Registers Agency, 285 companies owned by French citizens operated in the market of Serbia and that France was 11th among the countries with the biggest net investments of non-residents in Serbia.

– In the period between 2010 and 2023, France invested EUR 1.14 billion and employed more than 13,000 people, mostly in the automotive industry, food and IT sectors. In 2022, nearly 5,000 business entities which did business with the market of France were registered, of which 811 exported frozen raspberries, car tires, circular pumps, whereas close to 3,700 companies imported medical drugs, seed goods and machine parts from France – Trivunac explained.

He pointed out that, in addition to the investment cooperation, the aim was to increase the number of companies which trade among themselves, so as to additionally improve the value of the trade of goods.

– Serbia is the main country in the Balkans that France invests in and to which 70% of its investments go. In 2022, the total value of the foreign trade between Serbia and France amounted to close to EUR 2 billion. We mostly export frozen raspberries to France, close to 10% of the total exports – Trivunac said.

Ambasada Republike Francuske Beograd

Privredna komora Srbije

Coface Srbija d.o.o. Beograd

Belgrade airport doo Beograd

Ministarstvo privrede Republike Srbije

Coface

Vinci

Pierre Cochard

Slobodan Cvetković

Milun Trivunac

EXCELLENT SME certificate

small and medium enterprises