Deputy Prime Minister and Minister of Trade, Tourism and Telecommunication Rasim Ljajić said that Turkey’s interest to invest in Serbia has never been greater and that “for the first time, the ball is in our court” and that we need to be more creative.

“Turkey’s interest to invest in Serbia has never been greater, I do not know what well be of it all, but no week goes by without a serious Turkish company expressing its interest to invest in certain sectors of Serbia’s economy,” said Ljajić at the fourth regional conference of the Biznis Plus business club.

The entry into the Serbian market of the Turkish Halk Bank, which took over “Čačanska banka”, should significantly improve the Serbian-Turkish relations.

“We need to be far more creative, as for the first time, the ball is in our court and we need to decide what to do with that ball,” said Ljajić.

Ljajić noted that a great number of Turkish companies withdrew their business from Iraq, Syria and Libya due to the political instability in these countries, and that these companies are now seeking new markets.

“Together we have a chance to attract some of these companies to our region,” said Ljajić.

Ljajić said that Serbia did not fully use the benefits of the free trade agreement with Turkey, adding that since January 1, all industrial products are under a completely free trade regime with that country and expressed confidence that this will increase the volume of trade.

“I believe the volume of trade will increase because for the first time we have an open cargo line between Belgrade and Istanbul,” said Ljajić.

Serbia and the region are not attractive enough for Turkish investors, and this is evidenced by the fact that the trade volume between Turkey and the countries of former Yugoslavia, including Albania, makes only 0.9 percent of the total trade volume between Turkey and the World.

“That makes it twice lower than the trade volume between Turkey and Romania,” said the Minister.

There are ten times more Turkish companies in Romania than there are in the countries of former Yugoslavia.

Turkish Minister of Customs and Trade Nurettin Canikli said that there is room for Serbian construction companies on the Turkish market, noting that the planned investments in the construction sector in Turkey equal 400 billion dollars by 2020.

“Construction companies from Serbia could enter our market and make great profit because the Turkish market is untouched. There is a need to tear down hundreds of thousands of buildings and build new ones in their place,” said Canikli.

He added that there is room for big and small construction companies from Serbia on the Turkish market, due to the wide range of planned projects.