In many sectors that are a priority for Serbia – from agriculture and various segments of the processing, industry to services related to transport, logistics and IT – Greek companies offer advanced solutions
Greek companies have been among the pioneers of foreign investment around the Balkan region and have maintained a presence in Serbia for more than three decades. They operate across almost all sectors, particularly in hospitality, heavy industry, construction, recycling, petroleum trade, tourism, telecommunications and food and beverage retail, among others.
Speaking in this interview, HBA Management Board President Nikolaos Sliousaregko highlights the fact that Serbian companies have been achieving business success in Greece over recent years, through franchising and distribution in sectors like cosmetics, sportswear and equipment.
“The past year has been successful for our members, as we have seen an increase in sales and services. However, trade between Serbia and Greece has not yet achieved its full potential and there are numerous opportunities to further develop bilateral cooperation,” says Sliousaregko.
Which key sectors do you see as having the greatest potential for future investments and the deepening of business relations, in light of current global economic challenges?
—There is significant room for new Greek investments, as well as joint ventures with local companies across various sectors – from agriculture and different segments of the processing industry, to services related to transport, logistics and IT.
A key advantage for new investments in joint production is the opportunity to export to third markets, facilitated by Serbia’s free trade agreements with China, the UAE and Egypt.
The energy sector also has strong potential for further economic cooperation. The Greek energy industry is focused primarily on renewable energy sources, particularly solar and wind power. At the same time, Serbia is consuming increasing amounts of liquefied gas and other energy resources. Given that Greece has developed new terminals and expanded its gas supply capacities, it can play a significant role in diversifying Serbia’s energy sources. In this regard, an influx of new Greek investments could come from this very sector.
Greek companies’ expertise could also be applied across multiple areas of the energy industry, including circular economy initiatives, wastewater treatment, environmental protection and biodiversity conservation.
This year marks the 25th anniversary of the Belgrade Economic Forum, which has served as a vital platform for dialogue and economic cooperation for over two decades. Given the Hellenic Business Association’s longstanding support and engagement, how would you assess the forum’s role in strengthening bilateral economic relations?
— The Hellenic Business Association of Serbia is pleased to support the Forum, which is organised by TGI Group, one of our esteemed members, in cooperation with the Delphi Economic Forum.
First established in 2001, the Forum has served as a platform for dialogue, exchanges of information and the sharing of ideas that contribute to development and prosperity – not only for Serbia, but across the entire region – for 24 years.
Joint investments in industry, transport, IT and energy hold great potential, particularly with the opportunity to export to third markets facilitated by Serbia’s free trade agreements with China, the UAE and Egypt
Beyond the frequent participation of representatives of the Greek business community as speakers and panellists, the fact that the Forum is organised by a successful Greek company undoubtedly enhances the reputation of our Association, while also promoting Greek-Serbian economic relations.
Infrastructure investments, regional cooperation, digitalisation, workforce development and the application of innovations have been highlighted as key factors for advancing the region’s transport and logistics sector. Given Greece’s strategic position and its role as a key player in regional connectivity, what potential do you see for deeper cooperation between Greece and Serbia in these sectors?
— The enhancement of cooperation between our countries in these sectors is already well underway. The implementation of the agreement on a unified electronic toll collection system will undoubtedly facilitate the faster and smoother transport of goods and movements of people between our nations – especially considering the fact that 10,000 vehicles enter Greece from Serbia during the summer months.
Furthermore, Serbia has in recent years completed its motorway sections of Pan-European Corridor X towards Greece with the construction of modern highways, which is highly significant from an economic standpoint. The high-speed railway connecting Budapest and Athens via Serbia is also crucial, as it will serve as the backbone of rail transport in the Western Balkans, providing an outlet for all countries of the region towards Central and Western Europe.
During last December’s visit of Serbian Foreign Minister Marko Đurić to his Greek counterpart, Giorgos Gerapetritis, a Memorandum of Understanding was signed between the two foreign ministries. On that occasion, the two ministers reaffirmed their mutual commitment to the development of new transport corridors that will strengthen road infrastructure links between the two countries.
What specific initiatives or joint projects could further enhance cooperation between our countries?
— A key segment of our bilateral cooperation is tourism, given that Greece welcomes a million Serbian visitors each summer. This is further reinforced by the fact that Greece was the partner country of last year’s 45th International Tourism Fair in Belgrade.
At the same time, Serbia aims to attract a greater number of Greek tourists to Belgrade, as well as investors in the hospitality sector. EXPO 2027 presents an excellent opportunity to achieve these goals. Greek companies in Serbia are highly active in the construction sector and have been responsible for numerous projects that are of national and public interest. In this regard, Greece sees the continuation of this cooperation as a possibility within the EXPO 2027 project.
Moreover, Greek hospitality in Serbia is well established and holds prestigious status through the operations of the Laskaridis and Daskalantonakis groups, represented by Hyatt Regency Belgrade and Metropol Palace, as well as IN Hotel and Kopaonik’s Hotel Junior. Further joint projects in this sector could also be implemented through EXPO 2027, in line with expectations that a significant number of new hotels will be built ahead of the event.
| COOPERATION EXPO 2027 presents an opportunity to strengthen Greek-Serbian collaboration in the construction and hospitality sectors through new joint projects | CONNECTIVITY Enhancing transport infrastructure and introducing a unified toll collection system will further improve connectivity and movements of goods and people between Serbia and Greece | ENERGY With Serbia relying increasingly on liquefied natural gas, Greece – which is equipped with new terminals – can contribute to energy diversification. This sector thus has strong potential for new Greek investments |
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