Serbia and Tanzania Strengthen Economic Cooperation: Great Potential for Investment and New Business Opportunities

Ahead of the central event marking the 65th anniversary of the First Conference of the Non-Aligned Movement, held in Belgrade in 1961, the Chamber of Commerce and Industry of Serbia hosted the Serbia–Tanzania Business Forum, as well as a series of bilateral meetings with delegations from Zambia, Sri Lanka, the Democratic Republic of the Congo and Egypt, with the aim of advancing economic cooperation, investment and connections between business communities.

Vice President of the Chamber of Commerce and Industry of Serbia Mihailo Vesović said that more than 20 Serbian companies were participating in the forum, presenting their business interests and exploring opportunities for investment and business activities in Tanzania and Zanzibar.

“Tanzania, with its strategic location and a population of around 70 million, offers business opportunities that go far beyond its tourism potential,” Vesović said.

President of Zanzibar Hussein Ali Mwinyi thanked his hosts for their hospitality and noted that the value of bilateral trade was symbolic, pointing to significant room for improvement.

As he explained, Serbia’s imports from Tanzania mainly consist of coffee, tea, spices, oilseeds and nuts, which is insufficient given the good relations between the two countries. Tanzania currently imports large quantities of fertilizers, pharmaceutical products, edible oils and meat — products that Serbia can also supply.

“That is why we want to increase procurement from Serbia, but also open up opportunities for joint production in Tanzania,” Mwinyi said.

“Tanzania is a stable and promising market for business and investment, with significant potential in agriculture, energy, mining and tourism. The country also represents an important gateway to the regional market,” Mwinyi stressed.

He noted that Zanzibar and mainland Tanzania are not two markets competing for investment, but rather two parts of a single value chain.

“A tourist who visits Kilimanjaro or the Serengeti often ends their journey in Zanzibar,” he pointed out, adding that Tanzania offers investors a stable business environment and access to a regional market of around 300 million people, as well as the African market of more than 1.5 billion consumers.

Significant opportunities also exist in agriculture, food processing, logistics, the pharmaceutical industry and higher value-added manufacturing.

Tanzania’s Minister for Foreign Affairs and East African Cooperation, Mahmoud Thabit Kombo, said that he had met with Serbia’s Minister of Foreign Affairs and that they had discussed important issues that would contribute to strengthening cooperation, including the avoidance of double taxation.

He also said that the opening of a Tanzanian embassy in Serbia was being considered.

“It is up to us to work on strengthening relations in the fields of agriculture and technology and on establishing direct air links. Tanzania is ready for Serbia; the question is whether Serbia is ready for Tanzania,” Thabit Kombo said.

A special part of the event was dedicated to practical issues related to procedures, permits, financing and establishing local partnerships.

The participants announced further improvements in institutional and business cooperation, including the possibility of organizing a business mission of Serbian companies to Tanzania.

Serbia and Zambia See Opportunities for Stronger Cooperation in Agriculture and IT

Opportunities to enhance economic cooperation between Serbia and Zambia, particularly in agriculture, manufacturing and information technology, were the focus of talks between Zambian Ambassador Judith Maria Adeodate Mulenga, Political Adviser at the Embassy of Zambia Lawrence Mulangwe, Vice President of the Chamber of Commerce and Industry of Serbia Mihailo Vesović, and Serbia Export Executive Director Aleksandar Stojanović.

Ambassador Mulenga stressed that Zambia wants to make a shift from the production of raw materials toward their processing and the production of higher value-added goods, creating opportunities for cooperation with Serbian companies.

In addition to existing cooperation in agricultural machinery and joint investments, agricultural technologies, specialized seeds, software solutions, artificial intelligence, automation and cybersecurity were identified as promising areas for cooperation.

The Zambian side expressed particular interest in cooperation in the field of cybersecurity.

The meeting also addressed improvements to the business environment, including the issue of avoiding double taxation between the two countries.

Tourism, ICT and Agriculture Offer Potential for Greater Cooperation with Sri Lanka

Strengthening business ties and opening up new opportunities for companies from Serbia and Sri Lanka were the focus of a meeting between Vice President of the Chamber of Commerce and Industry of Serbia Mihailo Vesović and Sri Lanka’s Deputy Minister of Foreign Affairs Arun Hemachandra, held at the Chamber.

The interlocutors assessed that the relatively modest volume of bilateral trade indicates significant room for increasing and diversifying trade, as well as for stronger connections between the two countries’ business communities.

Particular potential for cooperation was identified in information and communications technology, digitalization and the digital economy, logistics, trade, tourism and services, as well as in the transfer of knowledge and advanced technologies, especially in the agricultural sector.

Sri Lanka’s strategic position in the Indian Ocean and the importance of the Port of Colombo create opportunities for cooperation in logistics and connectivity with the markets of South and Southeast Asia.

At the same time, Serbia has the potential to serve as a logistics and distribution hub providing access to the Western Balkan market and the wider European market.

At the meeting, which was also attended by Mahesh Gunawardena, a representative of the Embassy of Sri Lanka in Vienna, which is also accredited on a non-resident basis to the Republic of Serbia, it was agreed that cooperation with the Embassy of Sri Lanka in Vienna, Sri Lankan business associations and other relevant institutions would be intensified in the coming period, with the aim of expanding trade, establishing new business partnerships and developing joint investments.

Serbian Companies Invited to Major Business Forum in Egypt

A bilateral meeting with the Egyptian delegation focused on opportunities to further enhance economic cooperation between Serbia and Egypt, as well as the potential for joint engagement in the African market.

Egypt’s Deputy Minister of Foreign Affairs Mohamed Abubakr highlighted the strength of Egypt’s medical and pharmaceutical sectors and presented the “Al Ameen Africa Business Forum,” which will be held from 2 to 4 October, bringing together representatives of a large number of African countries and key decision-makers.

The forum, which this year received the support of the African Union and is planned to be held every other year, will cover all major economic sectors, and Serbian companies and institutions have been invited to participate.

Aleksandar Stojanović, Executive Director of Serbia Export, assessed that the forum represents an interesting opportunity for the Serbian economy and pointed to the potential for the involvement of Serbian companies, particularly in the construction sector.

Mihailo Vesović pointed to the growth in bilateral trade and the significant increase in Egyptian exports to Serbia.

The participants also exchanged ideas on organizing a women’s business forum, as well as Egypt’s participation in EXPO, including an initiative to organize an Egyptian National Day.

Serbia and the Democratic Republic of the Congo Discuss Cooperation in Digitalization and Security

The delegation of the Democratic Republic of the Congo was led by Deputy Prime Minister and Minister of the Interior Jacquemain Shabani Lukoo Bihango, in the presence of Joseph Kalala Mulamba, Ambassador of the Democratic Republic of the Congo to Serbia.

The discussions focused on opportunities for cooperation in the areas of digital transformation and modernization of public administration and internal affairs systems, cybersecurity, critical infrastructure protection, identity management and biometric solutions, modern surveillance and border-control systems, as well as the production of uniforms and other equipment for police and security services.

Serbia’s capabilities and experience in these areas were presented by Vlatacom, IBIS Solutions and VIAI, as well as the Chamber of Commerce and Industry of Serbia’s Center for Digital Transformation.

PHOTO: Ivana Vukotić