Serbia has great potential for investments and faster growth, but must improve its business climate and vital infrastructure, it was estimated Wednesday at the meeting "Trade in the region and investments prospects" organized by the British-Serbian Chamber of Commerce and the KPMG audit firm.

As for the fiscal policy, the mixed chamber's members said that investors know what to expect at the state level, since all taxes and contributions are clearly determined, but that at the local level they could be in for surprise since every municipality and town levies its own taxes. Serbia still has to cut the time needed to obtain certain documents and permits.

A widespread corruption also impedes business, participants noted. During the discussion, participants of the meeting dismissed as false claims that the current economic turmoil in the eurozone can have an adverse effect on the inflow of fresh capital into Serbia, adding that good, profitable projects attract capital regardless of the crisis.

Serbia is stable in macroeconomic terms, it has well-trained and highly motivated workers, a developed banking system, as well as stable political surroundings. Moreover, the decision on its EU candidacy bid should be delivered shortly, members of the British-Serbian Chamber of Commerce estimated. They said that in its EU integration process, Serbia can count on the support of that mixed economic association.

Representatives of the UK Chamber of Commerce in Romania, Hungary and Slovenia, who also attended the meeting, shared experiences from the transition process of these countries.