The main goal of this event is strengthening of the business
cooperation between India and Serbia. The organizers of the fair will be:
Serbia Chamber of Commerce and Industry, City of Kragujevac, Serbia Investment
and Export Promotion Agency and Regional Chamber of Commerce and Industry
Kragujevac with support of Embassy of India in Belgrade and Embassy of Serbia
in New Delhi.
During the Manifestation days, many events will be
organized, such as:
· The Fair of
Indian Economy
· B2B meetings
· Business
round tables with the themes:
- The possibilities of cooperation between Indian and
Serbian Automotive and Components industry
- Indian
experience in establishing Technological Parks
· Foundation of
Indian-Serbian Friendship
· Days of
Indian Culture, Film and Tourism
· The Evening
of Indian Cuisine
Besides
the traditional friendship between the two nataions, the visiting of
this Manifestation may enable you, at the easiest and the fastest way,
to access to European and Russian market, as well as to become
potential suppliers to great trade chains, such as CORA, VERO, METRO,
MERCATOR, MAXI, TEMPO, AGROCOR, INTEREX, LIDL…
The region that Chamber of Commerce and Industry Kragujevac
covers is situated in the central part of the Republic
of Serbia. The town of Kragujevac
as the regional center is 120 km away from Belgrade.
The Central Serbia region is
acceptable as the Euro region, having approximately 2 million people and the
central position in the Republic of Serbia.
This region is linked with Europe and Asia
through the most important international corridor 10, and with Europe
by the waterway through the Danube.
Kragujevac, as a regional center, used to be a capital of Serbia
principality in the period between 1818 and 1841. First institutions of great
importance for the development of Serbia
were established then, such as first lyceum, theater, and pharmacy... The Gun
foundry established in 1853 gained a very important role in the development of
the Serbia
industry. Kragujevac is an important educational center. The University
of Kragujevac consists of eleven
faculties and two institutes. It is also one of the most significant cultural
centers in the Republic of Serbia.
The main characteristics of the economy of Kragujevac are
long industrial tradition and its experience in foreign economic relations with
many worldwide countries.
The most significant export products: cables and cable
accessories, plastic products, vehicles and their spare parts, sports and
hunting weapons, steel and iron products (tools, forgings, castings, chains),
commercial and packaging glass, food products (mineral water, plum brandy,
beer, fruit juices, meat and meat products, dairy products, fruits and
vegetables...), small agricultural and other machines, as well as their parts,
then building and insulating materials, apparel, footwear, wood and furniture.
The main advantages for investments in this part of Europe
are as follows:
• Favorable
geographic position within the South-East Europe, beside
the European transportation corridors No.10 and No.7
• CEFTA Free
Trade Agreement that has been recently signed instead of 28 bilateral
agreements in South-East Europe
• Serbia
is the only country outside the Commonwealth of Independent States that signed
the Free Trade Agreement with Russian Federation
• Mostly
harmonized legislative with EU laws and WTO rules
• Well
educated, hard working, fast learning and multilingual labor force
• Macroeconomic
stability
• Low
operating costs
• Financial
incentives for investment projects in the area of production, international
services and R&D
• IMF Country
Report No. 06/382, October 2006 -
“Serbia has made significant progress in recent years after two decades
of stagnation and decline, with industrial output rising 40% from 2000 and GDP
growing 5-6% annually, largely due to macroeconomic stabilization, banking
sector reforms, and privatization".
• Besides,
$4,4 billion of FDI entered the country in 2006, it should be stressed that the
total amount of FDI from 2000 till now has been $9 billion and that the general
investment climate has been constantly improved.
• The average
annual growth of GDP was 6,5% over the past three years, but GDP per capita
reached to $4.200.
The highest growth rates were achieved in those sectors that
had undergone substantial privatization or restructuring in recent years (food
and beverages, tobacco, chemicals, rubber and plastic products and base
metals).
• Privatization
and restructuring process is in the final phase
• Anti-inflation
measures, stipulated with the aim of meeting the target of single-digit
inflation for 2006, gave adequate results with inflation of 6,6%.
• During the
first half of 2007, export volume has been increasing by 52% and import volume
by 63% compared to the results achieved in same period of the last year.
• Company’s
profit tax of 10% is the lowest in Europe
• VAT: the
standard rate of 18% (applicable for most taxable supplies) and the lower rate
of 8% (applicable for basic food stuffs, fertilizers, medicines, hotel
accommodation, daily newspapers, communal services etc.).
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