Serbia's export to Turkey totals around USD 50 million, but could be as high as USD 200 million, because Turkey is a major market which offers numerous opportunities, Turkish Ambassador to Serbia Ali Riza Colak said Monday.

At the opening of the second Serbia-Tukey business forum, he announced that Serbian Prime Minister Mirko Cvetkovic will visit Turkey on March 10, which will give a new impetus to the economic cooperation between the two countries.

Colak pointed out that the Turkish economy is large and that annual import into the country is around USD 1,400 billion.

He also said that Turkey expects a big economic growth in the next five years, which is an opportunity for Serbian companies as well, and that it will become an EU member in under ten years.

Noting that the two countries are only 70 minutes away by plane, the ambassador said that every businessman from Turkey has the chance to invest in Serbia.

He said investments should be made in Serbian tourism, noting that the national airlines of the two countries have a successful cooperation.

At the business forum, it was noted that the trade total between the two countries is USD 500 million, but assessed that this is insufficient and does not fully exploit the economic resources of the two countries.

General Secretary of the Belgrade Chamber of Commerce Ivana Zeljkovic reminded of the importance of the trade agreement between Serbia and Turkey, implemented since September 1 last year, which opened up new business opportunities and better use of the economic resources of the two countries.

"The agreement is a chance for Serbian exporters to put their products on the big Turkish market with 75 million consumers," she said.

Zeljkovic noted that lower customs rates which come into effect in 2015 will help investors on both sides.