Belgian-Serbian Business Association founded

Belgian-Serbian Business Association (BSBA) was founded in Belgrade with the aim to enhance business cooperation between the two countries, it was announced on Thursday (May 21, 2010.) by the Serbian Chamber of Commerce (PKS).


The Association will facilitate the exchange of business and information on legal regulations, and will work to promote the commercial potential of Belgian companies to invest in Serbia, it was said at the Press conference in SCA.


President of the Belgian-Serbian business associations, Hugo van Veghel said that the aim of the association was to develop the connection between businessmen from both countries, adding that on the Association's site http://www.bsbiz.eu/ all interested parties can get information about member companies and business opportunities.


Ambassador of Belgium in Serbia Denise de Hauwere said that the interests of Belgian companies to invest in Serbia was increasing and that the Association, which gathers about 40 members, would help businessmen to establish contacts and develop economic relations between the two countries.


De Hauewere pointed out that Belgium wants to work with Serbian businessmen and invest in Serbia.


According to data of SCA, the overall commodity exchange of Serbia and Belgium last year amounted to 266.4 million USD, of which the export of goods from Serbia amounted to 113.6 million USD, which means that the Serbian deficit was 39.2 million USD, said Secretary SCA Committee for Foreign Economic Relations, Olivera Kiro.


Revenue from exports to Belgium have been achieved mainly by exports of raw materials and intermediate goods, while finished goods were imported, she added.


Last year Serbia's revenue in trade with Belgium achieved sales of fruits and vegetables, iron and steel, tobacco, office machinery, textiles, fabrics and textile products, while most imported goods were plastic materials, medical and pharmaceutical products and vehicles.


According to data from the National Bank of Serbia, direct net investment in cash from Belgium since 2000 to 2008 totaled U.S. $ 63.9 million.


On the Serbian market there are currently present around 20 companies with participation of the Belgian capital in the property.