Embassy of the Republic of Serbia






Serbian Economy

Bilateral Economic Relations with Japan

At the moment, there are two investments of the Japanese companies in Serbia. Japan Tobacco is present in Serbia after buying (in May 2006) the Tobacco Industry in Senta (DIS) in the north of the country. This plant started production of cigarettes in May 2007 and in 2008 Japan Tobacco invested 5 million USD in the expansion and modernization of its production capacities.

Japanese companies Mitsui, Asahi Food and Healthcare and Asahi Breweries invested around 60 million USD in the Fermin factory in Serbia, in order to start the production of a natural food additive, which will be exported all over the world.

Some automobile manufacturers from Japan have also shown interest to invest in Serbia and to enter into business cooperation in the production of car parts for the regional market (Toyota Motor Corporation, Suzuki Motor Corporation).

Prospective sectors for foreign investors in Serbia are: automobile industry (in which Serbian industry has a long tradition), metal industry, IT and electronics (Microsoft opened its fourth R&D center in Belgrade - the other three are in the US, China and India), food industry (Serbia has enormous potentials for exporting healthy biotic food, fruits, natural juices and mineral water, wine and other alcoholic beverages

In the former Yugoslavia, Serbia had the most developed automobile industry among the countries of Central and Eastern Europe. Its annual production exceeded 100.000 vehicles. Its automobiles were exported to the United States (Yugo) and many other countries in the world (for instance, Serbian produced "Zastava128" is one of the most popular cars in Egypt).

During the visit of Serbian Minister of Finance Mr. Mladjan Dinkic to Japan in November 2005, three business seminars were held in Tokyo, Nagoya and Osaka, in order to promote Japanese direct investments in Serbia. Minister Dinkic also had meetings in Toyota, Mitsui Corporation, Japan Tobacco and Nomura Securities (on the topic of privatization and transformation of the banking sector in Serbia). On November 27, 2007 the Japan International Cooperation Agency (JICA), together with MINDECO and the Embassy of Serbia organized a Seminar on Promoting Investment in the Mining Sector of Serbia, which attracted great interest of Japanese companies. Serbian Minister of Mining and Energy dr Aleksandar Popovic visited Tokyo (November 29-30, 2007) and had talks on enhancing economic cooperation between Serbia and Japan with Senior Vice Minister of Economy, Trade and Industry Mr. Masahi Nakano, Vice President of JICA Mr. Seiichi Nagatsuka and Governor of JBIC Mr. Koji Tanami. In April 2009 Serbian Deputy Prime Minister Mr. Bozidar Djelic visited Tokyo, Osaka, Nagoya and Kyoto in order to have discussions about enhancement of our economic cooperation with the representatives of Japanese relevant institutions  and companies. He also held a very successful seminar on doing business in Serbia, organized by the Osaka Chamber of Commerce and Industry.

The level of trade between Serbia and Japan is still low and unbalanced, with a huge Serbian deficit. In 2008. imports from Japan exceeded 164 million euros, while the value of Serbian exports to Japan was merely 1,4 million euros.

Economic data (latest available data at the beginning of April 2009)



Ministry of Finance of the Republic of Serbia
Ministry of Economy and Regional Development
Privatization Agency
Investment and Export Promotion Agency of the Republic of Serbia
Customs Service of the Republic of Serbia
Serbian Chamber of Commerce
The Chamber of Economy of Belgrade
National Bank of Serbia
Serbian Agency for the Development of Small and Medium-sized Enterprises and Entrepreneurship (in Serbian language)
Invest in Serbia
Tourist Organization of Serbia
Tourist Organization of Belgrade
Belgrade Stock Exchange
Serbian Airlines
Airport Nikola Tesla Belgrade
Port of Belgrade (in Serbian language)
Electric Power Industry of Serbia
Belgrade Fair
Novi Sad Fair
Free Zone Belgrade
Novi sad Free Zone (in Serbian language)
Free Zone Pirot
Ekonomist Online
Economy-Serbian business news (in Serbian language)



Embassy of the Republic of Serbia, 4-7-24 Kitashinagawa, Shinagawa-ku, Tokyo, Japan
tel. +81 (3) 3447-3571, fax +81 (3) 3447-3573
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