Serbia’s European integration process, EU-facilitated regional reconciliation, with particular regard to dialogue between Belgrade and Pristina, and bilateral relations within the Strategic Partnership with reference to growth in trade between Italy and Serbia, were the main topics of discussion in Minister Terzi’s meeting today at the foreign ministry in Rome with his Serbian colleague Vuk Jeremic.
The economic dimension is a primary pillar in the Italo-Serbian Strategic Partnership, as witnessed by 17%growth in bilateral trade in 2011 as compared with 2010 (Italy is Serbia’s first importer and third exporter, resulting in over €2.2 billion in trade volume), despite the present international financial crisis. Italy’s role as a leading investor has had a further boost from the coming to term of the FIAT investment, Serbia’s largest foreign investment (approximately €1 billion), which has transformed the city of Kragujevac into an automotive industry hub.
There are over 500 Italian firms operating in Serbia, giving jobs to over 20,000 persons (approximately 2% of the Serbian workforce), in the textiles, banking and insurance sectors. Investments are also expected to increase in the sectors of renewable energy (following the signing on 25 October 2011 of a new bilateral energy agreement), infrastructure and farm/food production.
