Trade between Serbia and Great Britain at only EUR 250 million in 2012 - Bureaucracy hinders economic cooperation

Last year's trade between Great Britain and Serbia was at EUR 250 million, and the main reasons for poor economic relations lie in bureaucratic procedures, legal uncertainty and insufficiently developed infrastructure, it was assessed Monday at a seminar held in Belgrade with the aim of improving economic cooperation between Great Britain and Serbia.

President of the British-Serbian Chamber of Commerce Paul Judge said on that occasion that diplomatic relations between Serbia and Great Britain were on a very high level, adding that economic cooperation was lagging behind a lot.

- I believe that bureaucracy and legislation are among the reasons why our economic relations are so poor. Let me give you an example: it takes seven different documents to import goods from Serbia, while the average number of documents required in OECD countries is four. Also, companies operating in Serbia must pay 66 different taxes compared to only 12 taxes charged in OECD countries - Sir Paul Judge said at the event held in the Parliament Members Club.

Serbian Deputy PM Suzana Grubjesic pointed out that Great Britain was not among the leading investors from the EU.

She stressed that the Serbian government was doing everything to simplify bureaucratic procedures and facilitate easier operations of foreign companies in Serbia.