Turkey wants to invest in milk processing, banks and household appliances in Serbia

Turkish investors interested in investing in production and milk processing, banks and especially Beko company, in Serbia already famous for household appliances and TV sets, it was said today in Belgrade at 6th Serbian-Turkish business forum which gathered 40 companies from that country and 250 from Serbia.

President of the Belgrade Chamber of Commerce which together with the SITA Business Association is organizing the forum, Milivoje Miletic, said there is a huge potential for goods exchange increase between the two countries in the upcoming period based on free trade agreement which Serbia has with Turkey since January 2010. The agreement is asymmetric, Miletic said and added that it provides advantages to Serbian party and that it could influence goods exchange increase.

Miletic said there is interest in cooperation development, especially in the field of textile industry, energy, agriculture, infrastructure and construction.

According to him, in the first seven months this year, total goods exchange scope between Serbia and Turkey totals USD 56 m but there was also a huge deficit in goods exchange from the Serbian side.

- Serbia used to import more than it exported – Miletic said and added he will work on deficit decrease in the next period.

Turkish investments in Serbia total EUR 95 m, Miletic said and as an example he mentioned the investment of Efes in beer industry in Zajecar and Pancevo.

President of the SITA Association, Omer Simsek, outlined that “Serbia and Turkey have mutual history and neighboring relations and that therefore cooperation should be much stronger".

Great opportunity for Turkish products is the fact that Serbia has an agreement on free trade with Russia and good relations with EU, he said.

The assistant minister of trade, Stevan Nikcevic, said that Turkish banks have been negotiating for some time now to get working permits in Serbia. Nikcevic also said that Serbia should use the fact that Turkey in the recession times, is generating economy growth.