The Serbia Investment and Export Promotion Agency (SIEPA) published Friday a public invitation offering non-repayable funds to Serbian exporters, and the right to apply is reserved for the companies which export a minimum of EUR 50,000 a year or at least 20 percent of their total output.

SIEPA Director Bozidar Laganin noted that around RSD 150 million have been set aside for this purpose in the state budget.

Laganin explained that the funds cover 50 percent of a company's export costs, and are intended for product certification, introducing new products, design, packaging, participating at international fairs, market research and advertising in foreign media.

Reminding that SIEPA has been supporting export activity since 2004, Laganin said at a news conference that for the first time support will also be offered to Serbian companies that want to set up branch offices abroad.