Business news from Ukraine

Business news from Ukraine

Serbia Could Become Logistics and Industrial Hub Between Ukraine, Balkans, and EU – President of Serbian Chamber of Commerce and Industry

Serbia has the potential to become a key logistics and industrial hub between Ukraine, the markets of the Western Balkans, and the European Union, said Marko Čadež, President of the Serbian Chamber of Commerce and Industry.

“By using the Danube route from the ports of Izmail and Reni toward Serbian ports and intermodal terminals, goods from Ukraine can be efficiently redirected to Corridor X and the markets of Central Europe and the Adriatic region,” he said in an interview with the agency “Interfax-Ukraine.”

According to Čadež, the development of intermodal logistics and free zones gives Serbia the opportunity to be not only a transit point but also a place where new value can be added to Ukrainian raw materials and semi-finished products before they enter regional and European markets.

“Serbia positions itself as an important geo-economic center of the region, at the intersection of Eastern European resources and European transport corridors,” emphasized the president of the Serbian Chamber of Commerce and Industry.

He also noted that Serbia could serve as a production and technology base for Ukrainian companies seeking to enter the markets of the Western Balkans, the EU, Asia, and Africa.

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There are over 480 businesses with Ukrainian capital operating in Serbia

There are currently over 480 businesses with majority Ukrainian capital operating in Serbia, including 161 companies and 320 entrepreneurs, according to Marko Čadež, president of the Serbian Chamber of Commerce and Industry, citing data from the Serbian Business Registration Agency.

“Mostly in the fields of IT, consulting services, trade, and small business,” he said in an interview with the agency “Interfax-Ukraine”.

For comparison, Čadež cited data from pre-war 2021, when 202 Ukrainian companies and 117 entrepreneurs were operating in Serbia. According to him, about 40% of them were subsequently closed, but after 2022, a significant number of new registrations were recorded.

“Last year, for example, not a single company or entrepreneur was closed,” he noted.

The president of the Serbian Chamber of Commerce and Industry added that Ukrainian business in Serbia is gradually shifting from traditional trade to digital and other knowledge-based services.

“The number of IT entrepreneurs, consulting firms, and design studios is growing year after year,” said Chadezh.

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