Monday, 3 June 2024

Business Mission ENTERPRISE GREECE, SEV, and ACCI in Serbia

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Business Mission ENTERPRISE GREECE, SEV, and ACCI in Serbia

Athens, June 03, 2024 | Significant opportunities in key sectors of the Greek economy, such as food, energy, transport, and construction, were highlighted during the business mission to Serbia, organized by ENTERPRISE GREECE, SEV, and ACCI. This mission, supported by the Office of Commercial and Economic Affairs the Embassy of Greece in Belgrade, and the Enterprise Europe Network, was held from May 27-29, 2024.

The business mission consisted of 21 companies from various sectors, including food and beverage, construction/building materials, energy and environmental services, transport, agricultural fertilizers, real estate, and the oil industry.

Due to better-than-expected performance in the agriculture and construction sectors, and a strong recovery in the energy sector, Serbia's economic growth accelerated in the second half of 2023, achieving a 2.5% increase in GDP. In 2024, growth is expected to further accelerate to 3.5%. Positive aspects of the Serbian economy include rapidly increasing foreign direct investment, low labour costs, trade agreements with third countries, proximity to several important markets, macroeconomic stability, and a stable exchange rate.

Since Serbia does not produce a large number of primary products, it is heavily dependent on imports in key Greek export sectors, such as construction/building materials, real estate, energy/renewables, information and communication technologies, recycling, waste and wastewater management, irrigation systems, transport/logistics, the agri-food sector, the health sector (including medical-pharmaceutical products/equipment), the hotel sector/tourism services, and the mineral wealth sector. Greek export companies can play a crucial role as suppliers.

On Monday, May 27, the Embassy of Greece in Serbia hosted a reception at the Embassy Residence in honor of the delegation members.

On Tuesday, May 28, a business forum was organized at the Chamber of Commerce and Industry of Serbia. After the presentations by the organizers, nearly 200 B2B meetings were held. This was followed by a visit from the food/beverage and logistics sector members to the Greek food and beverage retail chain (supermarket) Veropoulos, where additional targeted meetings were held. The organizers hosted a dinner for the mission members.

On Wednesday, May 29, businesses continued B2B meetings in Belgrade and other nearby cities.

At the Business Forum on Tuesday, May 28, the Director of International Trade Relations of the Athens Chamber of Commerce and Industry, Ms. Eleni Foti, stated: "In recent years, Greece and Serbia have made remarkable strides in economic and business development, as well as in innovation. Our economies have shown resilience and adaptability, meeting global challenges with determination and ingenuity. Within this context, the forum and B2B meetings form a dynamic basis for innovation, cooperation, and building a common future. Our goal is to identify synergies, leverage our complementary strengths, and develop strategies that will enhance the competitiveness of our businesses on the global stage."

Mrs. Vicky Makrygianni, Director of International Relations and Regional Development at SEV, presented the Greek companies participating in the business mission, emphasizing that: "The trade balance between our country and Serbia has always been in surplus, with agricultural products and food accounting for approximately 50% of the total bilateral trade between Greece and Serbia. The proximity and traditionally good relations between Greece and Serbia create fertile ground for further development of bilateral trade relations."

Mr. Ilias Iliadis, Director of Investment Promotion Industry, Logistics, Technology, and Innovation at Enterprise Greece in the sectors of industry, supply chain, technology, and innovation, presented the Greek investment proposal to the Serbian company representatives. He initially focused on the most recent and particularly encouraging macroeconomic data, the reforms promoted to create a more attractive and business-friendly environment in recent years, and the entry of internationally recognized groups mainly in knowledge-intensive sectors such as research, technology, and innovation. He also discussed the available financial tools and investment incentives offered by Greece to foreign investors, while making special reference to cutting-edge industries and the dynamic and promising research and innovation ecosystem developing in the country, with high-quality human resources as a key component.

Representatives from the following Greek companies participated in the business mission:
1. AGRICOLA
2. AGROHELLAS S.A.
3. AGROVIM S.A.
4. ALMI S.A.
5. ARKAS LOGISTICS
6. C2h ENVIRONMENTAL ENGINEERING
7. CORAL S.A. (MOTOR OIL GROUP)
8. CYTOP S.A. (MOTOR OIL GROUP)
9. DEVISE ENGINEERING S.A.
10. DP PUMPS MANUFACTURERS S.A.
11. ELEA CRETA - ELEA LAND
12. ELVIAL S.A.
13. EMEK S.A.
14. FINE GOODS
15. KAMARIDIS GLOBALWIRE S.A.
16. KRONOS S.A.
17. MAKIOS LOGISTICS S.A. (ORBIT STREAM GROUP)
18. MIG HOLDINGS S.A.
19. MORE ENERGY (MOTOR OIL GROUP)
20. POSEIDON S.A.
21. VEN ENGINEERING SINGLE MEMBER S.A.

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