Germany is a key destination for Serbian small and medium enterprises


At the annual Assembly of members of the German-Serbian Chamber of Commerce (AHK), CEVES presented and authored the results of the economic analysis "Trade Relations between Serbia and Germany in the period from 2015 to 2022." Germany emerges as a crucial destination for Serbian small and medium-sized enterprises, playing a pivotal role in the gradual establishment of the Serbian Mittelstand* through this collaboration.

Milan Grujić, President of AHK, underscored during the annual Assembly of members of the German-Serbian Chamber of Commerce that trade cooperation with Germany surpasses any other country on this planet by almost twice the extent. He emphasized that robust relations stem from a combination of historical ties, strategic investments, and mutual economic interests underpinned by foreign direct investments and trade connections between Serbia and Germany.

Grujić stated, "The arrival of German companies has fostered an environment in Serbia where domestic producers could actively learn and adopt new and innovative production and management technologies, standards, quality assurance measures, as well as novel technologies applicable to a broader industry."

Dr. Kori Udovički, President of the Board and Chief Economist of the Center for Advanced Economic Studies (CEVES), highlighted that economic ties with Germany represent the most critical bilateral relations for Serbia, continually strengthening day by day.

Udovički pointed out, "In the last two years alone, Serbian exports to Germany have surged by 60%, with trade with Germany constituting 15% of Serbia's total trade. This surge largely stems from enduring German investments in Serbia, reflecting deeper compatibilities." Summarizing the pivotal outcomes of this economic study, she concluded that Germany stands as a crucial destination for Serbian small and medium-sized enterprises and that, through this collaboration, the Serbian Mittelstand is steadily taking shape.

German Ambassador to Serbia, Anke Konrad, affirmed that the study illustrates close trade relations between Germany and Serbia, stressing that what is even more encouraging is that German investments have generated numerous jobs in Serbia and have significantly bolstered innovative business practices, as emphasized by the President of the German-Serbian Chamber of Commerce in his introductory remarks.

Konrad concluded, "We aspire for the citizens of this country to swiftly experience the results of the reforms that Serbia is implementing on its path to the EU. Serbia possesses the necessary capacities and could be a driving force for the entire region. Germany will actively support Serbia's strides towards the EU."

*See the publication here.

Source: German-Serbian Chamber of Commerce (AHK)