Economiesuisse sees potential in Serbia as innovation location

Serbia is pursuing the aim of diversifying its economy, as detailed in a press release issued by economiesuisse. Moreover, the country is seeking to establish itself as a “research and innovation location in the fields of biomedicine, bioinformatics, biotechnology and biodiversity”, the press release explains. Serbia has plans to build the BIO4 Campus in its capital city Belgrade before the end of this year.

In the press release, the business association addresses the 11th meeting of the Joint Economic Commission Switzerland-Serbia, which took place on June 7 in Bern and was chaired by Ambassador Erwin Bollinger and State Secretary Stevan Nikčević. During the exchange, the Swiss Cooperation Office states its commitment in Serbia to matters concerning energy, environmental protection and technological development.

Serbia is Switzerland’s most important trading partner in south-east Europe, as the press release explains further. The country also plays an important role in the region as a location for manufacturing activities of Swiss companies. When it comes to trade in services, Switzerland is the fourth most important trading partner for Serbia, economiesuisse writes. The trade association relies on surveys carried out by the Serbian National Bank for such data.

Last year, trade in goods between Switzerland and Serbia increased by +46.6 percent versus 2021. From the perspective of economiesuisse, in fundamental terms, trade between the two countries is well-regulated by the free trade agreement signed by the EFTA states with Serbia. For the trade association, guaranteeing legal certainty and non-discriminatory market access is “essential” in order to continue attracting foreign direct investment”. ce/hs