Ljajic: Small and medium enterprises are the engine of economic development

Deputy Prime Minister and Minister of Foreign and Internal Trade and Telecommunications Rasim Ljajic has opened 14th International Trade Fair for innovation, cooperation and entrepreneurship “INOKOOP 2013” in Zrenjanin and by that occasion he said that small and medium enterprises and companies are the engine of economic growth and the basis for the growth of GDP, but also for reducing unemployment, which is especially true for Serbia and countries in transition.

Ljajic said that contrary to this, in Serbia in the period from 2009 until 2011 in sector of the small and medium enterprises and companies’ 153 thousand employees were just lost their jobs.

“This means that the biggest losers of the economic crisis, not only in Serbia, but in the 20 EU countries, small and medium enterprises and entrepreneurs,” said Ljajic and emphasize that this trend turn over it is very important to be the fairs like this traditional gathering of entrepreneurs in Zrenjanin.

According to him, private sector in Serbia today employs 45 percent of total employment and participates in the total overall GDP with only 30 percent, while in the EU 66 percent of the employment in the private sector participates in the GDP up to 60 percent.

“In the last 10 years in the EU sector SME has employed 85 percent of all new employees and that is the fact with which we have to face and we should not expect any more that the state of its administration and public sector employs all who are expecting job,” said Ljajic.

He pointed out that it must develop and motivate entrepreneur spirit by which we have been recognized, and that in this crisis was lost somewhere.

“There is no more private initiative, and frankly, there is no progress and recovery if we do not motivate the entrepreneurial spirit,” the Minister added.

Ljajic said that the innovations and cooperation are also important because the crisis is no longer tolerate average, and present demands highly educated people willing to learn and specialisation.

In the sports hall “Madison”, where from 29th until 31st August is held 14th  Trade fair “Inocoop” this year appeared 280 exhibitors in 80 booths from 10 countries who will present their products and service opportunities.

The organizer of the fair “Inokop 2013” is Regional Chamber of Commerce Zrenjanin and the General Association of entrepreneurs Zrenjanin in cooperation with Tourism centre of Zrenjanin city.