Goran Pekez, president of the Japanese Business Alliance in Serbia

Serbia’s location, skilled workforce and “long-term friendly” status all serve to attract Japanese investment, while the finalising of agreements on mutual investment protection and energy cooperation will enhance investor confidence

There are currently 15 Japanese-owned factories operating in a wide range of sectors in Serbia, while several other potential investors are inquiring. JBAS President Goran Pekez believes that the growing interest in Serbia among Japanese companies presents an excellent opportunity to deepen bilateral trade through carefully crafted agreements that promote long-term collaboration.

“Serbia’s strategic location, skilled workforce and official classification as a “long-term friendly country” have already positioned it as an attractive destination for Japanese investment,” explains Pekez. “To build on this momentum, finalising key agreements like the Protection of Mutual Investments and the Bistrica RHP cooperation agreement will provide Japanese companies with a secure framework for operations and thus encourage further investment.”

What are the other avenues for increasing this cooperation?

— The upcoming 2025 Osaka World Expo and 2027 Belgrade Expo will serve as crucial platforms to strengthen existing ties. By aligning with Japan’s Society 5.0 vision – focused on innovation, digitalisation and sustainability – Serbia can position itself as a reliable partner to Japanese industries. These events provide opportunities to highlight Serbia’s capabilities and establish trade agreements in strategic sectors like renewable energy, artificial intelligence, smart cities and advanced manufacturing.

Finally, global trends like friendshoring – where international corporations focus increasingly on their supply chain networks in countries considered political and economic allies – make Serbia an ideal partner for Japanese companies seeking stable and reliable investment locations. With shared challenges like population ageing and the transition to sustainable economies, trade agreements could focus on addressing these issues through joint ventures, technology transfers and enhanced market access. By fostering this mutual alignment, Serbia can support the long-term presence of Japanese companies while strengthening bilateral trade relations.

What is the Serbian economy’s interest in EXPO 2025 and in which areas can Serbian companies expect your help?

— Expo 2025 offers Serbian companies unparalleled access to the latest technologies, innovations and global trends. From April to October, this event will feature several thematic weeks, each highlighting a specific area of innovation. In collaboration with relevant institutions of the Serbian government, we’ve agreed to focus particular attention on the following sectors: Smart cities and advanced mobility, Healthcare, Food, Smart Factories, Energy efficiency and Green Tech, Science and Education, Infrastructure and Disaster Management.

Serbian companies can count on comprehensive support from JBAS in preparing for and organising their Expo 2025 participation by structuring the agenda for their visit to Osaka and facilitating communication with Japanese counterparts.

Is your association simultaneously promoting EXPO 2027 in Serbia; is this event of interest to Japanese companies?

— Thanks to the exceptional bilateral relations between Serbia and Japan, Japan was one of the first countries to express an interest in participating in Expo 2027 Belgrade. This reflects the strength of our partnership and the mutual interest in fostering collaboration on innovative solutions to global challenges.

We are committed to ensuring that Japanese companies’ activities here are both successful and impactful

JBAS is actively supporting processes related to the development of bilateral economic cooperation, including facilitating communication between relevant stakeholders in Serbia and Japan. We are committed to ensuring that Japanese companies’ activities here will be both successful and impactful, highlighting opportunities for further collaboration in areas such as technological development, renewable energy, healthcare and infrastructure.

Both events are expected to deepen ties between our two countries, and to serve as platforms to showcase Japan’s cutting-edge innovations while creating opportunities for Serbian companies to learn, collaborate and grow alongside one of the world’s leading economies.

With the visit of representatives of 100 Japanese investors to Serbia in 2024, you sparked new interest in economic cooperation with Serbia among Japanese companies. What should be the next step to truly expect new investments?

— The 2024 visit of the delegation of Japanese institutions and companies to Serbia marked the largest economic delegation ever hosted in the country, serving as a testament to the advancement of bilateral cooperation and Japan’s growing interest in Serbia. This shows the great potential for deepening economic ties and fostering new investments.

To ensure this interest is translated into tangible opportunities, the next steps should require a well-coordinated follow-up. One effective approach ideally could be organising a reciprocal visit by a Serbian economic delegation to Japan, which would allow us to present Serbia’s investment potential directly to Japanese companies. Additionally, hosting an investment conference could provide a platform to showcase Serbia’s strategic sectors, such as renewable energy, advanced manufacturing, and digital technologies, while facilitating direct dialogue between Serbian and Japanese businesses.

Such initiatives, supported by JBAS and other key stakeholders, would not only strengthen mutual trust, but also create an environment conducive to long-term partnerships, ultimately paving the way for new Japanese investments in Serbia.

What would you highlight as good practices that Japanese companies have brought to our nation?

— To name a few examples, I would point out the commitment to renewable energy and the optimisation of large industrial systems that Japanese companies have brought to our community. For instance, Toyo Tire’s new solar power plant, “Taiyo”, is expected to reduce CO2 emissions by 200,000 tonnes. Another memorable project, the Vinča Energy- from-Waste Plant, is predicted to cut CO2 emissions by 210,000 tonnes annually.

Moreover, Japan Tobacco’s extensive investments in gas-powered curing barns has reformed the sector’s ecological footprint. In the energy sector, the flue gas desulphurisation plant at the Nikola Tesla A thermal power plant reduced sulphur dioxide emissions by as much as thirty times, with the same technology currently being implemented at Nikola Tesla B. The RHE Bistrica project, planned for completion by 2031, represents another major initiative, focused on sustainable hydropower solutions. These projects are supported by Japanese companies, which are working to help Serbia’s green transition through renewable energy and sustainable solutions.