The first visit of German Chancellor Angela Merkel to Serbia comes at the right moment, especially in terms of economy, having in mind the growing interest of German and Serbian companies regarding joint work, German Ambassador Wolfram Maas stated in Belgrade on Monday.

In an interview for Tanjug, Maas said that the number of German com panies interested in conducting business in Serbia has doubled this year.

Speaking about new German investments in Serbia, the German diplomat announced that Falke sock manufacturer should open a new factory in Leskovac, southern Serbia, in November, while Siemens increased its investments in its plant in Subotica, northern Serbia.

A considerable number of companies are launching production activities in Serbia or finalising plans for it, Maas said.

Director of the Representative Office of the Serbian Chamber of Commerce (PKS) in Germany Milanka Vucic believes that Merkel's visit is exceptionally important for Serbia and the entire region because it will send a signal to German investors to make additional investments in Serbia.

Angela's Merkel visit sends a visit to German companies that Serbia is a country which should be taken into consideration and to which the German government attaches attention, so that they would be more interested in analysing the possibilities for operating in Serbia, Vucic told Tanjug.

Germany is Serbia's most significant economic partner within the EU, Vucic noted and pointed out that the two countries made exceptional progress in their foreign exchange back in 2000, and the total value of trade activities exceeded EUR 2 billion in 2010.

Deputy President of the German Business Association in Belgrade Bojan Predojevic said that German economy in Serbia is organised within the framework of the association of German companies, which believes that Serbia offers a very positive economic environment.

Germany is Serbia's greatest bilateral donor, and has allocated around EUR 1 billion worth of donations and assistance for the country since 2000, which were mainly invested in the areas of infrastructure, energy, water supply, raising the capacity of local self-governments and humanitarian purposes.