President Recep Tayyip Erdogan emphasized the growing economic collaboration between Türkiye and Serbia, particularly the increasing role of Turkish companies in Serbia’s economy, during the Türkiye-Serbia Business Forum held in Belgrade. The forum, attended by Serbian President Aleksandar Vucic, government officials, and business representatives from both countries, underscored the deepening ties between the two nations.
In his address, Erdogan praised the expanding presence of Turkish companies in Serbia, noting that Turkish firms now operate about 850 businesses in the country. He highlighted the significant growth in the value generated by these companies over the past 12 years, increasing from $1 million to $405 million. Turkish firms have created approximately 9,600 jobs in Serbia, contributing to the country’s economic development.
Erdogan expressed his gratitude to President Vucic, stating that the visit, which included high-level officials and a broad delegation from the Turkish business community, reflected the importance Türkiye places on its relationship with Serbia. He also emphasized Türkiye’s efforts to work with Serbia to enhance stability and prosperity in the region by strengthening economic ties.
“Serbia, under the leadership of my valued friend [Vucic], has implemented serious reforms in many areas, including the economy. We closely follow and support Serbia’s economic rise,” Erdogan said, pointing out that more than 60% of foreign investment in the region, amounting to €4.5 billion, flowed into Serbia in 2023.
Türkiye and Serbia have made significant progress in their bilateral trade relationship, with the trade volume surpassing $2 billion for two consecutive years. Erdogan expressed his desire to reach a trade volume of $5 billion, stating, “Our efforts with Serbian authorities to achieve this goal continue.”
Erdogan also acknowledged the impact of Halkbank’s operations in Serbia, describing it as evidence of Türkiye’s confidence in Serbia’s bright economic future. He commended Vucic for his support of Turkish investors, noting that the two leaders discussed ways to further contribute to the business community during their meeting.
The Turkish president stressed the potential for expanded cooperation in various sectors, including health, energy, and information technology. Additionally, he expressed hope for collaboration in defense industries, which would benefit both nations.
Erdogan mentioned the promising tourism relationship between the two countries, highlighting the increasing number of Serbian tourists visiting Türkiye. He expects the number of visitors to surpass last year’s record of 360,000. The recent approval of a travel agreement allowing citizens to travel with identity cards is expected to boost these figures further.
During the forum, 11 new agreements were signed between Türkiye and Serbia, solidifying the legal foundation of their bilateral relations. Erdogan emphasized that these agreements reflect the determination to strengthen cooperation across various sectors, and he lauded Vucic’s personal efforts in elevating Türkiye-Serbia relations to their current level.
Erdogan concluded by affirming Türkiye’s openness to Serbian investors and highlighting the favorable environment Turkish firms have found in Serbia. He expressed confidence that Serbian investors would experience the same welcoming conditions in Türkiye.
The Türkiye-Serbia Business Forum gathered around 150 participants from Türkiye and 180 from Serbia. Nail Olpak, President of the Foreign Economic Relations Board of Türkiye (DEIK), pointed to the importance of green and digital transformation, suggesting that both countries could take joint steps in these areas.
