Turkish banks want to open branch offices in Serbia

Marko Cadez, president of the Serbian Chamber of Commerce and the Ambassador of Turkey in Serbia, Mehmet Kemal Bozay, agreed at yesterday’s meeting that there are options for development of cooperation between Serbia and Turkey through mutual market penetration in finance, textile, agricultural and food industry, tourism, car industry, wood industry, chemical industry and other branches.

There is also potential for cooperation development between SMEs, especially since Serbia and Turkey are leaders in SMEs sector reforms, as estimated by the relevant European institutions.

In 2014, Serbian export to Turkey reached the value of USD 231,87 m and Turkey is 17 export partner of Serbia among 165 countries in the world. Import from Turkey reached USD 603,83 m which ranks its seventh among 202 countries.

The Embassy of Turkey and the Serbian Chamber of Commerce will support all activities with respect to business environment improvement it was outlined at the meeting and announced that in April in Istanbul a meeting of Turkish-Serbian business council will be held.

Turkish investors are mostly interested in business environment, labor law business terms in Serbia and the important signal is also the interest of a few Turkish banks to open branch offices in Serbia, it was outlined at the meeting and communicated at SCC website.