Belgrade new base for Turkish firms for easier access to EU

23 Mar '18

1 min read

Belgrade is now the new base for medium and big Turkish firms as the city offers easier access to the European market and helps reduce logistics time and costs. These companies, including 10 from the textile sector, have invested $100 million in Serbia and are aiming to raise their capacity in future. Many are attracted to the incentives offered.

Serbia's highly trained power and lower minimum wage increase add to the attraction, Istanbul Textile and Apparel Exporters Association (ITKIB) chairman Hikmet Tanriverdi was quoted as saying in a report in a Turkish daily.

According to Turkey's Ambassador to Belgrade Tanju Bilgiç, Turkish companies provide employment to 15,000 Serbians in Belgrade. A factory will soon be opened there, providing employment for 1,000 people, he said.

Tanriverdi said costs are very high in Turkey due to taxes on imported raw material.

Being in Serbia means moving fast and conducting flexible and low-capacity production, Irfan Özhamaratli, vice chairman of the Istanbul Chamber of Industry (ICI), said. Certain companies have adopted the clustering system, which means until training is provided in Serbia, they recruit workers from Turkey. (DS)

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