"Only two companies export over EUR 100mn"

Deputy Prime Minister Bozidar Djelic Tuesday painted a grim picture regarding Serbia's exports. "Despite an improvement over the recent years, only two companies have annual exports worth over EUR 100mn," Djelic, DS, said during a presentation of the Draft Strategy for Export Increase, meant to cover the period through 2011. "Only two companies export over EUR 100mn" The audience at the Serbian Chamber of Commerce (PKS) in Belgrade also heard the outgoing deputy premier say that only six companies reported exports worth over EUR 50mn, while 300 manage to sell products worth about one million euros aboard each year. The trade deficit is stable and amounts to 28 percent of the GDP, but the deficit in the balance of payments is at 17.6 percent of the GDP, Djelic said. "There are plans to up exports at an annual rate of 25 percent in the years to come, with an increase in the participation of final products from 43 to 65 percent," he continued, and added Serbia also intends to bring about a increase the number of companies that have annual exports worth more than EUR 10mn to 120, from 66 firms that report that result today. His caretaker government and party colleague, Agriculture Minister Slobodan Milosavljevic, said on the same occasion that exports of agricultural products should reach USD 5bn over the next three to five years. "That is why the state should adopt a decision to secure loans from international institutions for the water management and irrigation sectors, because that is the only way that we can improve agricultural production," Milosavljevic said. Investments of totaling USD 1bn are required annually for water management, and it is clear that Serbia cannot secure such funds alone, the minister said. Milosavljevic reminded that agriculture makes up one-fifth of the Serbian GDP, and participates with 20 percent in the country's overall exports. Milosavljevic, Djelic, speak at the PKS today (FoNet)

"Only two companies export over EUR 100mn"

The audience at the Serbian Chamber of Commerce (PKS) in Belgrade also heard the outgoing deputy premier say that only six companies reported exports worth over EUR 50mn, while 300 manage to sell products worth about one million euros aboard each year.

The trade deficit is stable and amounts to 28 percent of the GDP, but the deficit in the balance of payments is at 17.6 percent of the GDP, Đelić said.

"There are plans to up exports at an annual rate of 25 percent in the years to come, with an increase in the participation of final products from 43 to 65 percent," he continued, and added Serbia also intends to bring about a increase the number of companies that have annual exports worth more than EUR 10mn to 120, from 66 firms that report that result today.

His caretaker government and party colleague, Agriculture Minister Slobodan Milosavljević, said on the same occasion that exports of agricultural products should reach USD 5bn over the next three to five years.

"That is why the state should adopt a decision to secure loans from international institutions for the water management and irrigation sectors, because that is the only way that we can improve agricultural production," Milosavljević said.

Investments of totaling USD 1bn are required annually for water management, and it is clear that Serbia cannot secure such funds alone, the minister said.

Milosavljević reminded that agriculture makes up one-fifth of the Serbian GDP, and participates with 20 percent in the country's overall exports.