Sitemap

Economic And Trade Cooperation

Roots Of The Past, Wings Of The Future

Serbia is an EU membership candidate country and Italy has never failed to support its accession process. In order to raise our already excellent bilateral cooperation to an even higher level, the further integration of the Serbian market into that of Europe is of paramount importance, representing a crucial driver of beneficial internal reforms

Last year’s outbreak of the pandemic showed once again that a friend in need is a friend indeed, as our peoples provided each other with mutual assistance in overcoming this tragic turn of events. And despite the pandemic, we were still able to organise three high level visits of members of the Italian Government to Belgrade: Minister of Foreign Affairs and International Cooperation Luigi Di Maio, former Deputy Minister of Foreign Affairs Ivan Scalfarotto and Defence Minister Lorenzo Guerini. Two Serbian Ministers also visited Rome: former Minister of Foreign Affairs Ivica Dačić and European Integration Minister Jadranka Joksimović.

This year, on 1st April, Serbian Foreign Minister Nikola Selaković met Italian Foreign Minister Luigi Di Maio in Rome. One of the key topics on their agenda was how to expand the two countries’ strategic partnership to enable the realising of the full potential of our intertwined economies. In the hope that the epidemiological situation will improve, the two countries have ambitious plans for the coming months that are aimed at further boosting old and solid ties; relations that are rooted in the past, but look boldly to the future: infrastructure projects and transport corridors, energy transition and the green agenda, digitalisation and innovation are just some of the areas where Italy has built up skills and capabilities and is ready to work hand-in-hand with Serbia.

Italy is Serbia’s second largest trade partner and can claim a very large economic presence in the country, with more than 1,600 companies operating in Serbia, around 600 of which form the core of the countr’s presence, employing approximately 40,000 people

Italy is Serbia’s second largest trade partner and can claim a very large economic presence in the country, with more than 1,600 companies operating in Serbia, around 600 of which form the core of the countr’s presence, employing approximately 40,000 people. Their activities span all sectors: FCA/Stellantis (automotive), Banca Intesa, Unicredit, Generali, Unipol/DDOR Novi Sad (banking & insurance), Ferrero (agri-food), Engineering Software Lab d.o.o (digitalisation). In addition to these, many Italian SMEs have launched production operations in Serbia and are now present all over the country, from Subotica to Vranje.

The bilateral trade volume ranged from 3.8 to four billion euros in the 2017-2019 period, according to data from the Statistical Office of the Republic of Serbia. And in 2020, despite the global emergency created by the COVID-19 pandemic, the two countries still achieved bilateral trade worth 3.4 billion euros. Considering the current circumstances, this was a very good result that once again showed that trade is a pillar of these bilateral relations.

And that’s not all! A positive inversion has already come in the first quarter of 2021: with total trade having reached 927 million euros, with an increase of +2.6% compared to the 903 million euros achieved in Q1 2020. Serbian exports grew by +2.1% (from €414 to €423 million), while Serbian imports from Italy – i.e. Italian exports – grew by +3.1% (from €489 to €504 million). The trade balance thus favours Italy to the tune of 81.5 million euros. Confidence is high that bilateral trade is set to surge in the coming months, as pandemic constraints gradually ease thanks to the positive impact of the vaccination campaign.

Related Articles

Strengthening Of Cooperation Between Serbia And Mexico – 76 Years Of Diplomatic Relations

Mexico respects the territorial integrity and sovereignty of Serbia, and the exchange of parliamentary visits is essential for establishing better contacts between MPs of...

Europe Day Celebrated In Novi Sad

A Festival of Europe organized by the EU Delegation to Serbia was opened on Freedom Square in Novi Sad. EU member states, the Serbian...

Ambassador Pierre Bashar Receives Public’s Recommendations On EU’s Future

Serbian Minister for European Integration Jadranka Joksimović delivered to French ambassador Pierre Bashar a document with recommendations from the Serbian public for the European...

EU Solidarity Fund Allocates 12m Euros To Serbia

Minister for European Integration and National IPA Coordinator Jadranka Joksimović has signed a trust agreement on behalf of the Republic of Serbia, by which...

Relations With Italy Blossoming With Stable Friendship And Intensive Cooperation

Serbian President Aleksandar Vučić has spoken with Italian Minister of Defence Lorenzo Guerini, and thanked Italy for its continuous and strong support for Serbia's...

Serbia And Angola Sign Four Documents On Co-Operation

Serbian President Aleksandar Vučić has spoken with Angolan Foreign Minister Téte António, and Minister of National Defence and Veterans of the Fatherland João Ernesto...

Nehammer: Serbia Is An Important Partner For Austria

Serbia is a geostrategically and geopolitically important partner for Austria, and in these unprecedented times it is important to send the message that the...

Diplomatic Relations Between Greece And Serbia

Great Potential For Devloping Our Cooperation

Diplomatic relations between the Republic of Serbia and the Republic of Greece were established on 18th January 1879, and the first Serbian embassy in...

More...

Italy Win EURO 2020

Italy beat England 3-2 on penalties after the Euro 2020 final ended 1-1 following extra time at Wembley on Sunday to secure their second...

H.E. Carlo Lo Cascio, Ambassador Of Italy

From The Dark Wood To Paradise

Inspired by Dante Alighieri’s verses, in the year of the 700th anniversary of his death, H.E. Ambassador Lo Cascio provides us with insight into...

Vlatko Sekulović, Law Office Sekulović

Let’s Turn Towards The Green Economy

Law Office Sekulović, which in the last few years has also focused on developing strategies to attract foreign investors, hopes that economic flows will...

Marina Scognamiglio, Director Of The Italian Trade Agency In Belgrade

Exciting Year Ahead

Italy has been Serbia's main trade partner in the last decade, with a high degree of compatibility and proximity, and I have reasons to...

News

Quarter Of Britons Resort To Skipping Meals

A quarter of Britons have resorted to skipping meals as inflationary pressures and a worsening food crisis conflate in...

French Companies Show Increased Interest In Investing In Serbia

The French Development Agency is showing increased interest in investing in Serbia, said H.E. Pierre Cochard the French ambassador...

Cannes Film Festival Opens With Zelenskiy Appeal To World Cinema

The Cannes Film Festival opened up Tuesday with crowded red carpet arrivals, a star-studded ceremony and a call from...

EC: Serbia’s Growth Is 3.4 % This Year, In The EU Eurozone 2.7 %

The European Commission forecasts growth of Serbia's gross domestic product of 3.4 per cent this year and 3.8 per...

Baerbock: Brussels Must Keep Its Promise Of EU Membership To The Western Balkans

On the eve of the EU Council of Foreign Ministers in Brussels, German Foreign Minister Annalena Baerbock pointed out...

Quarter Of Britons Resort To Skipping Meals

A quarter of Britons have resorted to skipping meals as inflationary pressures and a worsening food crisis conflate in...

French Companies Show Increased Interest In Investing In Serbia

The French Development Agency is showing increased interest in investing in Serbia, said H.E. Pierre Cochard the French ambassador...

Cannes Film Festival Opens With Zelenskiy Appeal To World Cinema

The Cannes Film Festival opened up Tuesday with crowded red carpet arrivals, a star-studded ceremony and a call from...

EC: Serbia’s Growth Is 3.4 % This Year, In The EU Eurozone 2.7 %

The European Commission forecasts growth of Serbia's gross domestic product of 3.4 per cent this year and 3.8 per...

Baerbock: Brussels Must Keep Its Promise Of EU Membership To The Western Balkans

On the eve of the EU Council of Foreign Ministers in Brussels, German Foreign Minister Annalena Baerbock pointed out...

Quarter Of Britons Resort To Skipping Meals

A quarter of Britons have resorted to skipping meals as inflationary pressures and a worsening food crisis conflate in...

French Companies Show Increased Interest In Investing In Serbia

The French Development Agency is showing increased interest in investing in Serbia, said H.E. Pierre Cochard the French ambassador...

Cannes Film Festival Opens With Zelenskiy Appeal To World Cinema

The Cannes Film Festival opened up Tuesday with crowded red carpet arrivals, a star-studded ceremony and a call from...

EC: Serbia’s Growth Is 3.4 % This Year, In The EU Eurozone 2.7 %

The European Commission forecasts growth of Serbia's gross domestic product of 3.4 per cent this year and 3.8 per...

Baerbock: Brussels Must Keep Its Promise Of EU Membership To The Western Balkans

On the eve of the EU Council of Foreign Ministers in Brussels, German Foreign Minister Annalena Baerbock pointed out...