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The Government of the Republic of Serbia

In the service of citizens

Serbia open to new Turkish investments

Belgrade, 7 September 2022

President of the Republic of Serbia Aleksandar Vucic stated today at the Serbia-Turkey Business Forum that Turkish businessmen are welcome in Serbia and that they can always count on the support of our state, noting that there is great potential for cooperation in the defence and military industry sector.

Vucic underlined that it is necessary to focus on strategic matters that can bring prosperity to both sides and in line with that called on Serbian and Turkish companies from the private and state sectors to try and find a common denominator for cooperation.

Turkish companies in Serbia employ around 10,000 workers, he said and expressed gratitude to Turkey for opening factories in different parts of Serbia – from Vranje, Leskovac and Lebane, to Krupanj, Mali Zvornik, Sabac and Loznica.

The most important thing is that the Turks can always count on the Serbian state and the Serbs on the Turkish state. When we establish such trust, we can ensure good business for our states and more profits. We also imported politics and the preservation of peace and stability, Vucic said.

President of Turkey Recep Tayyip Erdoğan emphasised that a strong economy is necessary for prosperity and stability and pointed out that there is a will on both sides to improve bilateral economic relations.

Erdoğan assessed that economic and trade relations are the engine that drives our comprehensive relations and expressed the hope that the Serbia-Turkey Business Forum will bring new chances and opportunities for cooperation.

He recalled that the trade exchange between the two countries in 2021 amounted to $2 billion and that in the first eight months of 2022, an exchange in the amount of more than $1.5 billion was recorded.

In Serbia, there are large investments by Turkish companies that create jobs, he said and added that so far Turkish investors have invested $400 million in Serbia, as well as that there are currently 3,300 Turkish companies operating in Serbia, of which 21 are factories.

According to him, the potential for improving cooperation exists not only in the implementation of infrastructure projects, but also in the areas of health, energy, the IT sector and tourism.