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The Government of the Republic of Serbia

In the service of citizens

Call on American companies to use Serbia’s investment potential

Belgrade/Washington, 31 January 2024

Minister of Economy Slobodan Cvetkovic met yesterday with CEO of the American-Serbian Business Council and American-Central European Business Association (ACEBA) Eric Stewart in Washington.

The meeting was attended by President of the Serbian-American Friendship Congress Vladimir Marinkovic and representatives of American companies Bechtel, Citi Bank, Lockheed Martin, Smartmatic and UGT Renewables.

On that occasion, Cvetkovic pointed out that American companies employ more than 30,000 people in Serbia and added that our country is ready to receive an even larger number of American investors, who positively influence our image at the global level.

Our commodity exchange is below the real potential and possibilities. The total value of goods exchange in the first 11 months of last year was about $1.047 billion, the Minister said.

He assessed that it is necessary to start with the concretisation of cooperation, as well as with the intensification of meetings between Serbian and American businessmen, which will represent a further step towards the realisation of projects of mutual interest.

Cvetkovic called on American investors to visit Serbia and take advantage of the potential for investment and development of their business.

Stewart emphasised that American companies are satisfied with the treatment and business conditions in Serbia.

The Minister of Economy spoke today in Washington with representative of the Office of the US Trade Representative Silvija Savic about the additional improvement of bilateral economic cooperation.

He underlined that Serbia is continuously working to improve the business environment, especially in the area of legislation, which should be the main logistics for investments, starting a business and trade cooperation with as few barriers as possible.

Cvetkovic expressed the hope that the USA will soon restore the General System of Preferences with Serbia, and pointed out that, to further stimulate economic relations between Serbia and the USA, it would be important to have an agreement on avoiding double taxation.