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Germany find Serbia attractive for investment

Staff writer |
Progress in EU reforms will help attract more German investors to Serbia, German Vice-Chancellor Sigmar Gabriel said at a joint press conference with Serbian Prime Minister Aleksandar Vucic in Belgrade.

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Gabriel arrived on Sunday for a two-day visit to Serbia during which he participated in a business council meeting between the two countries and their delegations.

"It is not in the interest of Germany to act as a teacher in the region, but it wishes for a partnership on an equal basis. There is so much to be done, while German companies' think that it is profitable to invest in Serbia despite numerous problems," Gabriel said.

According to Gabriel, German investors were mostly interested the part of the EU accession talks that deal with the rule of law in Serbia, but that the country's administration should also become more fair and transparent and its tax systems and the market harmonized with the EU.

Gabriel stressed that the EU needed the Balkans along with Serbia for the sake of the continent's stability, and said his country wanted "a partnership with Serbia on an equal basis."

Vucic said Germany was Serbia's most important political and economic partner, and that the government was dedicated to solving the country's economic problems and creating the best business environment for German investors.

Announcing that new reforms would follow in the sectors of construction and public administration, Vucic pointed out that Serbia also wished to introduce more German companies into its meat industry, information technologies and automobile industry. Around 360 German companies employ some 25,000 people in Serbia.

According to Serbian Chamber of Commerce data, Serbia exported goods at a value of 1.4 billion U.S. dollars to Germany in the first three quarters of 2014, while it imported goods worth 2 billion in return.

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