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New Horizons in Cooperation Between Serbia And Turkey

Jun 12, 2024

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At the symposium dedicated to economic cooperation between Serbia and Turkey, Mihailo Vesović, director of the Department for Strategic Analysis, Services and Internationalization of the Chamber of Commerce and Industry of Serbia, pointed out that economic relations between Serbia and Turkey are on an upward trajectory, which is the result of the joint work of the institutions and business communities of the two countries.

“In the last ten years, the focus of trade relations between our two countries has shifted from the textile industry to the automotive industry, from the metal industry to the plastic industry, and today the development of the financial services sector is dominant," Vesović said. He added that when financial institutions, such as the Turkish Halkbank, show up in a certain market, it signals to the business community that it can safely operate in that market with reduced risk. "For us, the construction sector is also important, which significantly contributes to GDP growth, and the specialized exhibition EXPO 2027 will be an opportunity for cooperation between Serbian and Turkish companies, which will contribute to the accelerated development of the Serbian economy," Vesović added.

Osman Arslan, the president of the Turkish-Serbian Business Association and general director of Halkbank, pointed out that this bank has been operating in Serbia for nine years, has 41 branches, and 90 percent of its clients are Serbian companies. "Serbia and Turkey are opening new horizons in strengthening economic cooperation, which is important for business stability, especially in a world facing political and economic challenges," said Arslan.


Hami Aksoy, Ambassador of the Republic of Turkey to Serbia, emphasized that the economic relations between the two countries are at an extremely high level. "Over 1,000 Turkish companies operate in Serbia, and the number of investors is constantly growing. Cooperation between Serbian and Turkish companies is present not only in traditional sectors but also in the renewable energy sources and the IT sector," said Aksoy. He added that cooperation is also significant in the tourism sector, where the number of Turkish tourists in Serbia has increased by 40 percent. "The fact that there are 50 flights a week between Belgrade and Istanbul, as well as the fact that there is a direct flight from Belgrade to Ankara, testifies to the strong tourism sector and business relations," said Aksoy.

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