News

On 27-28 August during the official visit to Serbia Lithuanian Minister of Foreign Affairs Petras Vaitiekūnas encouraged strengthening the cooperation between Lithuanian and Serbian Government institutions, as well as between the economic development agencies and interested business structures. “Due to the economic boom the Baltic States are referred to as the “Baltic Tigers”. Observing the latter period of economic boom in Serbia, Serbia can be called the “Balkan Tiger”,” said the Head of Lithuanian diplomacy during the Lithuanian- Serbian business forum in Belgrade.

The Minister says that Lithuanian and Serbian economic cooperation is mutually beneficial. P.Vaitiekūnas claims, that Serbia is the region leader in the area of economy and provides an attractive investment environment. According to Minister P.Vaitiekūnas, Lithuania can serve Serbia as a gateway to the European Union market and share its experience regarding the modernization of the economy of this country and attracting foreign investments. The Minister invited Serbian enterprises to take a more active part in business exhibitions that are being organised in Lithuania.

The Head of Lithuanian diplomacy was satisfied with Lithuanian investments in Serbia.

“Businessmen investing abroad open new possibilities for Lithuanian economy and represent our country excellently,”  indicated P.Vaitiekūnas.

P.Vaitiekūnas with accompanying delegation of Lithuanian businessmen and Serbian Ministers  - Minister of Trade and Services  Predrag Bubalo, Minister of Agriculture Slobodan Milosavljevic and Minister of Infrastructure Velimir Ilic visited Lithuanian investment companies Sanitex and Arvi owned fertilizer company HIP Azotara in Pancevo.

Lithuanian and Serbian Ministers of Foreign Affairs signed an Agreement for the avoidance of double taxation of income and capital.

On 1 April Lithuanian business in Serbia invested about 12 m euros. This rate shows that Serbia is 13th among the countries with the greatest Lithuanian investment.