Serbian and North Macedonian Businesses: Two Billion Euros in Trade and New Investments Expected

Strengthening economic ties between Serbia and North Macedonia, expanding cooperation across all sectors—from agriculture to IT and digitalization—boosting bilateral trade toward two billion euros, attracting new investments, and jointly entering third markets are key to the future development and success of both economies, as well as the Western Balkan region. This was the central message of the Serbia–North Macedonia Business Forum, which today gathered more than 450 participants in Skopje, including business representatives from nearly 250 companies, alongside government officials, institutions, and business associations from both countries.

Addressing forum participants, Marko Čadež, President of the Chamber of Commerce and Industry of Serbia (CCIS), emphasized that this is the largest bilateral business forum between Serbia and North Macedonia so far, expressing gratitude to the business community and the leadership of both states for supporting economic cooperation.

“We thank the President of Serbia, Aleksandar Vučić, and the Prime Minister of North Macedonia, Hristijan Mickoski, for supporting our business communities in jointly carrying out major ventures. Special thanks go to Serbia’s Deputy Prime Minister and Minister of Economy, Adrijana Mesarović, for her energy and initiative in negotiating new business opportunities,” Čadež added.

He recalled that Serbian companies—from large systems to small enterprises—are already successfully cooperating with partners in North Macedonia, but the goal is to encourage new partnerships. With that in mind, the “Business Guide to North Macedonia” was prepared and presented, containing all key information about this market.

“We are pleased to see a growing number of joint investments — the best proof that together we are strengthening the regional economy. Serbian investments in North Macedonia have exceeded 1.5 billion euros, from Mtel, Ananas, Nectar, Imlek, Comtrade, Vino Župa, Čoka Winery, Nelt, to investments in the banking sector such as Alta Banka’s acquisition of Stopanska Banka Bitolj and Vege’s acquisition of Fenix Farm. At the same time, more than 1,000 companies in Serbia are owned by investors from North Macedonia, with increasing presence in retail and real estate,” Čadež highlighted.

He added that the two economies can jointly approach third markets—especially in Africa—and stressed the need to continue efforts to facilitate trade, simplify procedures, and implement infrastructure projects. “I wish you new deals, new investments, and I look forward to seeing you soon in Belgrade,” Čadež said.

Adrijana Mesarović, Deputy Prime Minister and Minister of Economy of Serbia, emphasized that the number of participants at the forum demonstrates the great potential that must be further developed.

“Partnership, trust, open dialogue, and determination to build a stable, competitive, and prosperous region — these are the foundations of our cooperation. Serbian exports are growing by 16%, our economies are compatible, and there is room for even stronger cooperation, both in traditional sectors and in modern technologies,” she said.

Ivan Stoilković, Deputy Prime Minister of North Macedonia and Minister for Community Relations, stated that the two countries can reach a trade volume of as much as two billion euros, and that they must continue to strengthen economic potential based on a shared vision of regional cooperation.

Branko Azeski, President of the Economic Chamber of North Macedonia, emphasized that the two economies are moving forward together and that the support of political leaders is crucial for concrete joint business ventures.

The Business Forum in Skopje was organized by the Chamber of Commerce and Industry of Serbia, in cooperation with the North Macedonian business community. Its aim was to improve existing and create new business ties, as well as define future directions of cooperation. More than 150 bilateral meetings were held within the forum, where businesses discussed concrete opportunities.

Statistics also confirm the upward trend in cooperation: in the first nine months of 2025, bilateral trade reached 1.12 billion euros, an increase of 101.4 million euros compared to the same period in 2024. Serbian exports amounted to 804.8 million euros, up 15.7%, with a trade surplus of 487.5 million euros, an increase of 117.4 million euros year-on-year.

In 2024, 4,438 business entities in Serbia traded with North Macedonia, while by October 2025, 1,066 companies were registered in Serbia with majority ownership by Macedonian legal or natural persons.

Photo: CCIS / Ivana Vukotić