Invest-in-Serbia: Private FDI Information, Strategic communication and Consulting Service for SEE, Custom Analysis and Reports - Bubalo calls for investment in Serbian wood industry

Belgrade - Serbian Minister of Economy Predrag Bubalo opened today the 42nd International Furniture Fair in Belgrade, saying that a drop in output at Serbia’s primary wood processing industry and growing furniture imports are endangering the country’s current foreign trade surplus in this industry.

Bubalo recalled that Serbia’s wood processing industry has around 4,000 firms, with a combined workforce of 35,000, adding that 1,000 firms are processing firms, of which 121 are large enterprises.

He said that 70 socially owned wood firms have entered privatisation, of which one half have already been sold. Bubalo called on investors to invest in this industry, which he said has a future, not only thanks to solid raw materials supply in the country, but also thanks to a number of free trade agreements with neighbouring countries and Russia.

Belgrade Fairgrounds Director Andjelko Trpkovic said the fair will be open until November 14 and that it has brought together over 400 exhibitors, of which 100 are foreign companies.

Source: Official web site of Serbian Government