EU main investor in Serbia with 82% of total investments

The EU is the main investor in Serbia with 82% of the total net foreign investments, stated Oscar Benedict, Deputy Head of the EU Delegation to Serbia, on Friday, December 16.

He said that investments from the EU in the amount of EUR 15 billion had been realized in the past 15 years.

At the conference dedicated to preparations for the opening of the negotiation chapter 30, Benedict said that it amounted to more than three fourths of the investment in Serbia and that the opening of the chapter, dealing with foreign economic relations, was very important for Serbia.

– More than 65% of exports from Serbia, that is, around two thirds, is realized in cooperation with the EU – Benedict emphasized.

He also stated that the export to the EU had doubled from 2009 till 2016, from EUR 3.5 billion to EUR 7.9 billion.

On the other hand, Benedict noted that Russia had made up only 5.4% of Serbia's foreign trade in 2015, but added that Russia was nevertheless important due to significant export of oil and gas.

– There's a positive trade trend between Serbia and the EU, especially regarding agricultural products. This creates an opportunity for further integration and Serbia's entrance to the EU and its unique market – Benedict said.

The screening report for chapter 30 was prepared in 2016, and the Government of Serbia and the EC are currently preparing their negotiation positions, it was said at the conference.

Although chapter 30 is considered an easily closed, exclusively expert chapter in other state's cases, it could prove to be a challenge in the case of Serbia, due to several very important unresolved issues.

The challenges to closing chapter 30 pertain to the requirement of Serbia's membership in the World Trade Organization, which is related to the question of harmonizing the regulations with those of the international organization, for example regarding GMO, but also the free trade agreements of Serbia with third countries, which need to end with Serbia's accession to the EU.

Delegacija Evropske unije u Republici Srbiji Beograd

Vlada Republike Srbije

EUROPEAN COMMISSION Bruxelles

EU investments in Serbia

chapter 30

negotiation chapter 30

Accession negotiations of Serbia with EU

Oscar Benedict

export of Serbia to EU

trade between Serbia and EU

membership of Serbia in WTO

WTO

World Trade Organization

EC

European Commission

GMO

free trade agreements with third countries