The fact that some Greek and Serbian products are sold in local retail chains has improved cooperation in the last few years.
According to the data of the State Statistical Office (SSO), in the first six months of 2020, the total trade in goods with Greece amounted to 247.2 million euros. In the observed period, exports amounted to 96.3 million euros and recorded a 5.7% increase relative to the same period last year. Greece ranks 24th on the list of countries that Serbia mostly exports to with a 1.2% share. In the first six months of 2020, imports amounted to 150.9 million euros, which was a 1.2% growth compared to the same period last year. Greece ranks 20th on the list of countries that Serbia mostly imports from a 1.4% share. In the first half of this year, Serbia recorded a deficit in trading with Greece in the amount of 54.6 million euros. The export to import coverage in the observed period stood at 63.8%.
Business entities
Based on the data collated by the Ministry of Finance of the Republic of Serbia – Customs Administration, 2,028 business entities in Serbia do business with Greece.
Number of business entities net exporters from Serbia to Greece – 548; Number of economic entities net importers from Greece – 1 273; Number of economic entities that export to and import from Greece – 207
Business entities in Serbia with a majority Greek capital
According to the data collated by the Business Registers Agency of the Republic of Serbia, 436 active business entities are registered on the territory of the Republic of Serbia (as of June 3, 2020), which are majority-owned by Greek nationals, i.e. legal entities registered in Greece.
The largest number of business entities operates in the following economic branches: Wholesale and retail trade and motor vehicle repair (150); Professional, scientific, innovation and communication activities (61); Administrative and support services (55); Manufacturing (41); Construction (37)
“In the first quarter of 2020, the revenue generated by Greek residents in Serbia amounted to -2.5 million euros”
POTENTIAL FOR BETTER COOPERATION Greek investors are mostly interested in investing in the following sectors: food and beverage industry, infrastructure, energy, environmental protection and transport. They have also shown interest in investing in the energy and renewable energy sector (Aktor, Terna, etc.). Greek companies are also increasingly interested in establishing and boosting cooperation in the segment of organic production, tourism and innovation (technology transfer, etc.).
There is great potential for improving trade cooperation between the two countries, given that cooperation is currently at a relatively low level. The fact that some Greek and Serbian products are sold in local retail chains has improved cooperation in the last few years.
The laws regulating public-private partnerships have created the possibility for joint projects of Serbian public enterprises and private Greek companies in the construction of motorways (primarily Corridor X), as well as auxiliary infrastructure (motels, shopping malls, restaurants, etc.).
In the first quarter of 2020, the revenue generated by Greek residents in Serbia amounted to -2.5 million euro.
Under the auspices of the Athens Chamber of Commerce, a Greek business delegation came to Serbia in March 2020. On that occasion, the Chamber of Commerce and Industry of Serbia, in cooperation with the Athens Chamber of Commerce, the Greek Embassy in Belgrade and the Greek associations for the promotion of the Greek economy – Enterprise Greece and SEVE – organized the Serbia-Greece Business Forum and bilateral talks between more than 100 Serbian and Greek businesspeople.