Serbia's economic competitiveness must be based on know-how

BELGRADE - Serbia cannot build its competitiveness upon raw materials and cheap labour, but on know-how and innovations, a conference on Serbian-Italian cooperation in advanced manufacturing technologies has been told.

Italy is Serbia's most important economic partner and there are positive trends in trade and investments, but cooperation in modern technologies and exchange of know-how is lagging behind, said a statement of the Chamber of Commerce and Industry of Serbia (PKS).

Strengthening the ties between the scientific communities will have a positive effect on overall bilateral relations, the PKS said.

"Serbia can no longer build its competitiveness upon raw materials and cheap labour, but on know-how and innovations," Milivoje Miletic, the PKS president's advisor, said at the opening of the conference.

PKS Vice-President Mihailo Vesovic said that cooperation with Italy in the sectors of mechatronics, robotics, automation and development of small and medium-sized enterprises is significant for enhancing the overall business environment and the Serbian economy.

With investments worth over USD 2 billion, Italy is the biggest investor in Serbia, and bilateral trade amounts to around USD 4 billion annually, Vesovic said.

Serbia's metals sector, which includes 5,000 companies and employs nearly 116,000 workers, accounting for a mere six percent of the national GDP, offers prospects for cooperation based on high technologies, Vesovic said.

Economic growth lies in innovations, Italy's Ambassador to Belgrade Giuseppe Manzo said, noting that improving the two countries' cooperation in science and technology is a priority.

The business and scientific conference, dedicated to enhancing...