Over the last 10 years, Germany has invested a total of EUR1.5 billion in Serbia, it was said on Oct. 4 at the Serbian-German business forum in Munich, held as part of the Days of Serbia in Bavaria event.

Germany, with EUR700 million in aid for economic cooperation and development between 2000 and today, also makes it the largest bilateral donor in Europe, announced the Serbian Chamber of Commerce.

However, foreign trade between Serbia and Germany is characterized by Serbia's high goods deficit and an unfavorable structure of goods in export.

According to a survey conducted by the German Business Association in Serbia for 2010, German investors were positive about doing business in Serbia and 87 percent of German businesspeople said they would decide to invest in Serbia again.

The Days of Serbia in Bavaria event is being held on the 40th anniversary of the Serbian-Bavarian Commission.

Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic announced today in Munich that German company Leoni will increase the number of its workers in Prokuplje.

After meeting with the management of the company Leoni in the Bavarian Chamber of Commerce, Dinkic said that the company has started building a new production facility in Prokuplje and will increase the number of workers in Serbia, from 800 to 1,050, and if they make a deal with Fiat, Leoni will employ 1,000 more people.

He affirmed that Serbia has a surplus in foreign trade with Bavaria, adding that Leoni so far this year has exported products worth around €20 million from Serbia.

It is important that there is great interest of Bavarian companies to enter the Serbian market after positive examples of companies that are already here, such as Knauf, Siemens, Leoni, Drexel Meyer, Grammer, highlighted the Minister.

Dinkic opened the Serbian national pavilion at the 13th international property and investment exposition EXPO REAL in Munich.

At a business forum organised by the Munich Chamber of Commerce as part of the 40th anniversary of the Serbian-Bavarian Permanent Committee, Dinkic delivered a presentation about “Serbia as Production and Export Destination – New Possibilities for Bavarian Companies”.