Business news from Ukraine

Business news from Ukraine

Ukraine is undisputed leader in terms of sunflower oil supplies to EU

According to the European Commission, from July 1, 2024 to February 2, 2025, the European Union countries imported about 1.24 million tons of sunflower oil. This is less than in the same period last year (1.51 million tons), but higher than in the 2022/23 season (1.13 million tons). The pace of imports has slowed in recent weeks: while in December up to 59,000 tons were imported weekly, in early February – less than 25,000 tons per week.

Ukraine remains the largest supplier of sunflower oil to the EU, providing 94% of imports (1.17 million tons). However, this is lower than the previous year’s figure (1.40 million tons) due to reduced raw material supplies, slower processing and limited export potential.

Serbia and Bosnia and Herzegovina are the second and third largest suppliers of sunflower oil to the EU with market shares of 3% and almost 1% respectively. However, their export volumes also declined compared to the previous year.

The decline in supplies from Ukraine, Serbia and Bosnia and Herzegovina is prompting the EU to seek new sunflower oil suppliers to compensate for the deficit and stabilize the market.

Source – TG channel Serbian Economist

 

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Police seized largest batch of cocaine in Serbia

Deputy Prime Minister and Minister of the Interior of Serbia Ivica Dačić said that the Criminal Police Department, together with the Belgrade Police Department, conducted one of the largest cocaine seizures in recent times, Euronews reports.

“Today in Surčin, during the detention of two people, nine kilograms of cocaine were seized. The detainees were taken into custody for 48 hours, after which they will be transferred to the prosecutor’s office for further consideration,” Dacic said in a statement from the Interior Ministry.

According to Interior Ministry video footage, the bags of cocaine were hidden under the car’s gear lever.

The cost of cocaine on the black market in Europe varies depending on the country and specific conditions. According to local police, in Latvia, the wholesale price for a kilogram of cocaine is about 30,000 euros, and the retail price is 120 euros per gram.

In the Czech Republic, the retail price of cocaine is approximately 136 US dollars per gram.

In Austria, a 137 kg shipment of cocaine was valued at 14 million euros, which corresponds to approximately 102,200 euros per kilogram.

It should be noted that these figures can vary significantly depending on the country, region and current market situation.

Source: https://t.me/relocationrs/462

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Ukrainian veterans to receive training in humanitarian demining in Serbia

Ukrainian veterans will be able to undergo training in humanitarian demining in Serbia, the Ministry of Veterans Affairs has announced.

“The training will provide war veterans with knowledge of the intricacies of demining, familiarization with national standards of mine action, etc. During the training, war veterans will be able to acquire the necessary skills and certification, which will open up new career opportunities for them,” the ministry said in a statement following a meeting between Deputy Minister Yulia Kyrylova and Serbian Ambassador to Ukraine Andon Sapundji and representatives of the Serbian Demining Center.

It is noted that at the same time, such an initiative will help strengthen the national demining system, as experienced specialists will be able to work on the security of the liberated territories.

In addition, the Ministry of Veterans and the Mine Action Center of Serbia agreed to further establish cooperation in the training of demining specialists among war veterans.

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IKEA expands its presence in Serbia

IKEA Serbia has submitted a request to the Belgrade Secretariat for Environmental Protection to decide on the need for an environmental impact assessment for the expansion and reconstruction project of the IKEA-istok department store in Belgrade, Biznis.rs reported today.

The project involves the reconstruction and expansion of more than 6,000 square meters of the department store on Astrid Lindgren Street, and the deadline for public review and submission of conclusions on the request is January 31.

The reconstruction and expansion is planned to be carried out in one stage, while maintaining existing infrastructure connections and without increasing the capacity.

The request states that the existing wastewater treatment technology and the existing wastewater separator from the transport areas will be preserved.

“Since the existing purpose of the facility is maintained, which is not a source of pollution, and given the latest environmental standards that the investor IKEA applies to all its projects, no pollution and inconvenience is expected in the Ikea department store complex in Belgrade,” the request for a decision on the need to conduct an environmental impact assessment reads.

It was also noted that pollution can be considered stationary traffic, which, according to their assessment, does not have a significant spatial dispersion or duration.

IKEA said that during the expansion, the geomechanical and hydrogeological characteristics of the soil will be taken into account based on detailed observations and analyzes.

“The implementation of the planned project will not lead to pollution that is significant for the area where it will be located. The possibility of an accident is minimized through the implementation of appropriate preventive and rapid response measures,” the request says.

The company believes that the project will not have a negative impact on the environment, so there is no need to prepare an Environmental Impact Assessment.

Source: http://relocation.com.ua/ikea-rozshyriuie-svoiu-prysutnist-u-serbii/

 

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Hungary and Serbia plan to speed up construction of oil pipeline between countries

Hungarian Foreign Minister Peter Szijjarto and Serbian Energy Minister Dubravka Jedovic-Handanovic agreed on Wednesday to intensify investment policy in the energy security sector and speed up the construction of the first oil pipeline between the two countries, the Hungarian foreign minister said.

“We have agreed to expand joint investments in energy and energy security, including the construction of the first interconnecting oil pipeline,” Szijjarto wrote on Facebook (Meta Platforms Inc.).

In addition, Sijarto and Jedovic-Handanovic agreed to step up funding for “a new power line connecting the networks of the two countries.”

“For our country, Serbia is a strategic partner, without Serbia there will be no energy security for Hungary, and vice versa,” the Hungarian Foreign Minister added.

As reported, the construction of the oil pipeline between Hungary and Serbia is expected to be completed by 2026. The new branch will be connected to the Druzhba pipeline and will allow Serbia to diversify its oil supplies and not depend on Croatia.

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Situation on Serbian labor market in 2024 – Experts Club

At the end of 2024, the Serbian labor market showed stability with a gradual increase in employment. The unemployment rate decreased to 9.2%, down from 10.1% in 2023. Economic recovery from the pandemic and the inflow of investments in key sectors are contributing to job creation, but the country still faces a shortage of skilled labor.

The key characteristics of the labor market in Serbia are:

1) The employed population is about 2.9 million.

2) The main employment sectors are:

      • Industry – 25%;
      • Agriculture – 18%;
      • Services – 45% (including IT, trade and tourism).

3)Average salary level:

    • The average salary in Serbia is 770 euros and in Belgrade 950 euros.
    • The highest salaries are observed in IT (up to 1,500 euros), pharmaceuticals (1,200 euros) and financial sector (1,000 euros).

4) The most demanded professions are:

IT specialists;

Engineers;

Medical personnel;

Workers in the construction and agricultural sectors.

The role of migrants in the Serbian labor market

Migrants play an important role in the Serbian economy, especially in sectors where there is a labor shortage. In 2024, the number of registered foreign workers exceeded 120,000, including citizens of Ukraine, Bosnia and Herzegovina, North Macedonia, Russia and China.

Main migrant groups and their roles:

  1. Ukrainians:
    • Official number: about 30,000 people.
    • Areas of employment: construction, agriculture, services, technical professions.
    • Ukrainians are actively involved in infrastructure projects such as building roads, bridges and industrial facilities.
  2. Citizens of Bosnia and Herzegovina:
    • Number: about 25,000 people.
    • Priorities: service industries, including trade, hospitality and repair work.
    • Due to the proximity of language and culture, Bosnian citizens are easily integrated into the Serbian labor market.
  3. Citizens of Northern Macedonia:
    • Number: about 20,000 people.
    • Main sectors: industrial production, agriculture and transportation.
  4. Russian citizens:
    • Numbers vary greatly depending on the data source from 70,000 to 150,000 people.
    • Areas of employment: IT, real estate, education.
    • Russians are more likely to hold highly skilled positions, especially in Belgrade, and invest in their own businesses in the areas of catering, IT, other .
  5. Chinese:
    • Number: about 30,000 people.
    • Role: development of retail trade, management of enterprises in the service sector.

Regularities:

  • Ukrainians and Balkan migrants (Bosnia, Macedonia): more likely to work in positions requiring physical labor or technical skills, and focus on entrepreneurial activities.
  • Russians: hold positions in technology, finance and education.
  • Chinese: focus on entrepreneurship, starting small and medium-sized businesses.

Challenges of the labor market with regard to migration

  1. Shortage of skilled labor:
    • Serbia attracts foreign workers to compensate for shortages in construction, medicine and IT.
  2. Competition among migrants:
    • Citizens of neighboring countries such as Bosnia and Macedonia have an advantage due to similarity of languages and easier integration process.
  3. Migration regulation:
    • Paperwork procedures for work remain relatively simple, but require streamlining to reduce bureaucracy.

Experts predict that Serbia will maintain a high share of migrant workers in the labor market, especially in construction, agriculture, and IT. Key factors:

  • Attracting investments in infrastructure and industry.
  • Increased demand for qualified specialists due to the outflow of local staff to EU countries.
  • Simplification of labor migration procedures.

Serbia’s labor market in 2024 is developing against the backdrop of an influx of foreign workers, including a significant share of Ukrainians. This allows the country to address the problem of staff shortages in key sectors. However, Serbia’s further growth will require not only attracting migrants, but also improving working conditions and incentivizing local workers.

 

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