Challenges to competitiveness of EU chemical industry opportunity for Serbia

The chemical industry in the European Union has been declining for the second year in a row and is in economic recession.

The main reasons are the high price of energy, uncertainty that discourages new investments, as well as the decline in demand, which leads to a decrease in the competitiveness of European companies in the global market.

These are some of the key messages and results of the analyses that were discussed at the General Assembly of the European Chemical Industry Council (Cefic) and the Chemicals Convention in Berlin, which was attended by representatives of the Association for the Chemical, Rubber and Non-Metal Industries of the Chamber of Commerce of Serbia (CCIS).

At this meeting, it was pointed out that additional pressure was being created by tariffs from the United States of America, which increased business risks and made the import of raw materials to the European market more expensive.

On the other hand, Serbia is gaining importance as an attractive destination for investors.

Lower energy prices compared to EU member states make the domestic economy more competitive, and the Serbian market more attractive to foreign investors in the chemical industry.

Privredna komora Srbije

Udruženje za hemijsku gumarsku industriju i industriju nemetala Privredne komore Srbije

European Chemical Industry Council

Cefic

Chamber of Commerce of Serbia

CCIS

Association for the Chemical Rubber and Non Metal Industries of the Chamber of Commerce of Serbia

chemical industry