February 2024, Issue No. 232 by CorD Magazine

United Nations Resident Coordinator - Serbia

President of IPRA

director of the Archaeological Institute of the Serbian Academy of Sciences and Arts (SANU)

TRUST: THE ULTIMATE QUESTION

ARCHAEOLOGY ISN’T A SCIENCE OF SENSATIONALISM

www.cordmagazine.com

PLACING PEACE AT THE CENTRE

Miomir Korać

Nataša Pavlović Bujas

FEBRUARY 2024/ ISSUE NO. 232

Françoise Jacob

interviews opinions news comments events COMMENT

Will Janus Open or Close the Doors to Kosovo Serbs? FOCUS

Are the recent elections a pebble or a boulder in the government’s shoe?

EXCLUSIVE

COMMUNICATIONS SPECIAL EDITION 2024

INCREDIBLE INDIA SPECIAL EDITION – REPUBLIC DAY OF INDIA 2024

783002

JAPAN

771451

SPECIAL EDITION 2024

Forging the Future

Deep Friendship and Fraternity Between Two Nations

ISSN1451-7833

MIGUEL DIAZ-CANEL President of Cuba

INCREDIBLE INDIA

COMMUNICATIONS

SPECIAL EDITION – REPUBLIC DAY OF INDIA 2024

SPECIAL EDITION 2024

JAPAN

Forging the Future

Contents 04 W ILL JANUS

OPEN OR CLOSE THE DOORS TO KOSOVO SERBS?

16 D AVOS

79 B RINGING ABSTRACT IDEAS TO LIFE

HAS THE “POLYCRISIS” OVERWHELMED US?

84 F IRE THAT

BURNS ETERNAL

BRANKO MILJKOVIĆ

TATJANA SHTERJOVA DUSHKOVSKA Secretary General of the Western Balkans 6 Chamber Investment Forum PROFILE

DRAGIŠA MIJAČIĆ

06 D EEP FRIENDSHIP AND FRATERNITY BETWEEN TWO NATIONS

MIGUEL DIAZ-CANEL

20 F OCUS

President of Cuba

86 A RCHAEOLOGY

NOBODY KNOWS WHAT’S GOOD OVER THE HILL

ISN’T A SCIENCE OF SENSATIONALISM

80 P AJA JOVANOVIĆ

39 B USINESS DIALOGUE

MIOMIR KORAĆ

director of the Archaeological Institute of the Serbian Academy of Sciences and Arts (SANU)

THE MASTERFUL PAINTER WHO WOVE HISTORY INTO ART

52 T HE MAN BEHING

10 P LACING PEACE

A TECH TITAN’S REVIVAL

AT THE CENTRE

FRANÇOISE JACOB

SATYA NADELLA

United Nations Resident Coordinator - Serbia

CEO of Microsoft ENTREPRENEUR

92 C HILL OUT 94 F ASHION 96 C ULTURE CALENDAR 98 F ACES & PLACES

“CorD - 20 Years of Independent Thought and Inspiration”

CorD_Magazine cordmagazine thecordmagazine cordmagazine cordmagazine The views expressed in this publication are those of the presenter; they do not necessary reflect the view of publications published by alliance international media

COPY EDITOR: Mark Pullen

CONTRIBUTORS: Ljubica Gojgić Zoran Panović Radmila Stanković Maja Vukadinović Mirjana Jovanović Miša Brkić, Rob Dugdale Steve MacKenzie Zorica Todorović Mirković Sonja Ćirić, Miloš Belčević

TRANSLATION & EDITING: Pullen Editorial, Halifax

PHOTOS: Zoran Petrović

EDITOR IN CHIEF: Neda Lukić n.lukic@aim.rs DESIGN: Slađan Radosavljević Zoran Perović design@aim.rs

SALES MANAGERS: Biljana Dević b.devic@aim.rs Mihailo Čučković m.cuckovic@aim.rs Nataša Novković n.novkovic@aim.rs

EXECUTIVE DIRECTOR: Maja Vidaković m.vidakovic@aim.rs

OFFICE MANAGER: Svetlana Petrović s.petrovic@aim.rs

PUBLISHER: Ivan Novčić i.novcic@aim.rs

FINANCE: Dragana Skrobonja finance@aim.rs

CEO: Ana Novčić a.novcic@cordmagazine.com

PRINTING: Rotografika d.o.o. Segedinski put 72, Subotica

E-mail: office@aim.rs office@cordmagazine.com www.cordmagazine.com www.aim.rs

CorD is published by: alliance international media d.o.o.

Prote Mateje 52, 11111 Belgrade 17, PAK 125806, Serbia Phone: +(381 11) 2450 508

COMMENT

Will Janus Open or Close the Doors to Kosovo Serbs? January is named after Janus, Roman god of beginnings and endings, protector of gates and doorways. It is the month when the Serbian community in Kosovo remembers the tragic killing of politician Oliver Ivanović, a man who used his incredible energy to encourage local Serbs to persevere through the tough challenges that have confronted them for the last quarter of a century. However, this January is tougher than all previous ones combined

By Dragiša Mijačić he government of Albin Kurti took advantage of the holiday period to exert strong legal and institutional pressure on what remains of the Serbian community in Kosovo, with the end goal of taking full sovereignty over Serb areas and compelling Serb emigration to the point at which they no longer represent a political factor in Kosovo. The Government of Kosovo is this January exerting pressure on several fronts simultaneously – from confiscating the medieval churches of the Serbian Orthodox Church with the claim that they are Roman Catholic houses of worship, via actively lobbying against the lifting of visas for passports issued by the Coordination Administration of the Serbian Interior Ministry, which serve Serbian citizens resident in Kosovo, all the way to the destruction of billboards displaying pictures of honorary citizens of Zvečan and raiding the premises of the provisional authorities of municipalities that function within the Serbian system.

february

Director of the Institute for Territorial Economic Development (InTER), coordinator of the Working Group of the Serbian National Convention on the EU for Chapter 35

Among all the decisions currently being taken in Pristina, the one that stands out the most is the 27th December 2023 decision of the Board of Directors of the Central Bank of Kosovo (CBK) forbidding the transport and use of dinars on the territory of Kosovo. Regardless of the declaring of the euro as Kosovo’s official currency, the use of the Serbian dinar in Serbian and other minority communities (such as in Gora) has been tolerated since 1999, and arrival of UNMIK and KFOR. The continued survival of Serbian (and other) communities in Kosovo is directly dependent on the money that comes from Serbia in the form of dinars. This money also enables the continued work of the Republic of Serbia’s institutions that function in Kosovo in the fields of healthcare, education, social protection, municipal services, culture and sports, but also the functioning of the local economy, which is based mainly on the retail and service sectors. It is estimated that approximately 40,000 salaries and 32,000 pensions are paid from Serbia, as well as the payments of approximately 10,000 recipients of social assistance and 5,000 farmsteads. A total of approximately 87,000 people receive their salaries in dinars, which is a huge number given that the Serbian community includes an estimated 100-120,000 people. And people who don’t receive their salary in dinars are also dependent on

the functioning of Serbian institutions, such as those who work at Kosovo institutions or international organisations but whose children attend Serbian schools or receive treatment at Serbian hospitals funded by Serbia. It can thus be said that all Serbs living in Kosovo, but also numerous members of other ethnic communities (Gorani, Bosniaks, Roma, some Albanians, but also people from mixed marriages), are impacted directly by this CBK decision, which should enter into force on 1st February. Any attempt to transport or use dinars in Kosovo after that date will be considered a criminal act resulting in the confiscation of the money and the initiating of criminal proceedings. The problem created by this CBK decision has raised significant concern in the international community. The U.S. State Department and German Federal Foreign Office as well as the QUINT embassies in Kosovo asked for suspension of the enforcement of the CBK regulation. During the period of Kurti’s rule, Pristina’s institutions have shown marked resistance to similar Western demands. But the stakes are much higher this time around, as they relate to the very survival of Serbs in Kosovo, which doesn’t overly impact Kurti, but does raise concerns in the international community and in Belgrade. We will soon discover whether Janus has closed the door to the dinar or opened it wide for Kosovo Serbs to take a road in one direction. Stay tuned.

It’s easier when it’s divided! Choose the Addiko Mastercard® credit card and divide your purchase into 3, 6, 9 or 12 instalments, anytime and anywhere!

For more information please contact Addiko Contact center at 0800 303 303.

Your best choice for fast loans

addiko.rs

INTERVIEW

EXCLUSIVE

Deep Friendship and Fraternity Between Two Nations I felt great emotion, not just due to the warmth and friendliness of my official reception, but also due to the welcome I received from the people on the streets and boulevards traversed by the convoy of the Cuban delegation. The meeting at our Embassy with the Serbian Movement for Solidarity with Cuba, as well as with Cubans who are resident in this country, was another unforgettable moment during this visit ~ Miguel Diaz-Canel Miguel Diaz-Canel President of Cuba By Ljubica Gojgić

february

cordmagazine.com

uban President Miguel Diaz Canel visited Serbia last summer, thereby ending a hiatus in top level bilateral visits that had lasted several decades. Noting that strong ties between the two countries had initially been forged by Josip Broz Tito and Fidel Castro, he said that the desire exists today to fortify that relationship on the basis of mutual trust, but also to expand cooperation to encompass multiple areas, including agriculture, healthcare, culture and sport. Speaking in this interview for CorD Magazine, the Cuban President said that his country will not change its stance opposing Kosovo’s unilaterally proclaimed independence.

Respected President Diaz-Canel, your recent visit to Serbia was announced as the first presidential visit in almost 40 years, while it also coincided with celebrations commemorating the 120th anniversary of bilateral relations between our two countries. How is Serbia viewed today from the perspective of Cuba? — From the Cuban perspective, Serbia is a friendly country with which we maintain excellent political relations that we also work to strengthen. This is a nation with a government that works intensively to preserve its independence and territorial integrity, in defence of the interests of the people. It likewise exerts great efforts to maintain national and regional peace and stability and to achieve economic development under complex geopolitical conditions. You seem to have been satisfied with the way you were received in Belgrade, and not only when it comes to the official reception. Did you really observe support from the people on the streets of Belgrade? — I felt great emotion, not just due to the warmth and friendliness of my official reception, but also due to the welcome I received from the people on the streets and boulevards traversed by the convoy of the Cu-

february

ban delegation. The meeting at our Embassy with the Serbian Movement for Solidarity with Cuba, as well as with Cubans who are resident in this country, was another unforgettable moment during this visit, and one that proved the deep friendship and fraternity between both peoples, support for Cuba against the blockade of the United States and the patriotic sentiment of the community in Serbia towards the Cuban people and nation.

Cuba will, in accordance with the norms of international law, maintain its principled position that’s based on respect for the territorial integrity of the Republic of Serbia and its right to sovereignty over the whole of its territory A high level of understanding exists between Cuba and Serbia at the political level. How would you respond to calls from some world and European capitals insisting that countries that have recognised the independence of Kosovo must change their stance? — Cuba will, in accordance with the norms of international law, maintain its principled position that’s based on respect for the territorial integrity of the Republic of Serbia and its right to sovereignty over the whole of its territory. You spoke in Belgrade about the need to strengthen bilateral economic cooperation. In which fields do you see the greatest opportunities to do so? — The main fields in which opportunities exist to develop economic-commercial relations include agriculture, tourism, healthcare, the biopharmaceutical industry, science, culture and

sport. The governmental agreement on cooperation in the field of agriculture, which was signed in Belgrade during my visit, forms part of a series of agreements that have been signed in recent years with the aim of advancing bilateral cooperation. President Aleksandar Vučić spoke of the possibility of Cuba being able to buy foodstuffs like wheat and corn in Serbia, which would enable us to diversify our sources for importing these products, after evaluating transport routes. In addition to this, encouragement was given to reinitiate the sessions of the Joint Intergovernmental Commission that used to exist between our two countries, in order to ensure the resumption of joint work in the noted sectors.

Serbian citizens have long been familiar with the scope of Cuba’s national healthcare system, but particularly since the period of the Covid-19 pandemic. Do you see opportunities to cooperate with Serbia in healthcare?

COOPERATION

TRADE EXCHANGE

UKRAINE

Opportunities for cooperation exist in primary healthcare and in providing medical services to patients suffering from lung cancer, medicines for the treatment of which we are producing

The main fields in which opportunities exist to develop economic-commercial relations include agriculture, tourism, healthcare, the biopharmaceutical industry, science, culture and sport

We can’t compare the Cuban missile crisis of 1962 and the current global conflict, because their historical, geopolitical-economic and global contexts differ

— Opportunities for cooperation in this area indeed exist, for example in primary healthcare and in providing medical services to patients suffering from lung cancer, medicines for the treatment of which are producing in our country. We maintain contacts with Serbian Health Minister Danica Grujičić, in order to evaluate the existing scope and characteristics of our cooperation, also doing so via agencies for the registration of medical treatments and medical devices, and through the biopharmaceutical industries of both countries.

What do you expect from the agreements that were signed by the Cu-

ban and Serbian delegations during your visit and which relate to the lifting of travel visas for diplomats and cooperation in agricultural sectors? — Those are two extremely important agreements, the successful concluding of which included intensive work on both sides, and I think they create many opportunities to develop cooperation between both countries. From the Cuban perspective, how do you view the critical point of the European crisis that is Ukraine, which has the potential to escalate into a global conflict and is regularly being compared to the Cuban Missile Crisis of October 1962?

— We can’t compare the Cuban missile crisis of 1962 and the current global conflict, because their historical, geopolitical-economic and global contexts differ; while they each had their own causes and characteristics, and their development was different. The conflict in Ukraine has serious international and regional security implications. The United States’ efforts to continue expanding NATO progressively towards the borders of the Russian Federation led to a scenario with unpredictable implications that could have been avoided.

We advocate for a diplomatic and realistic solution to the current crisis in Europe that would guarantee the security and sovereignty of all, and that would resolve genuine humanitarian problems Ever-increasing inflows of weapons, aggressive rhetoric and unilateral sanctions only contribute to deepening the causes of the conflict. Cuba, as a country that defends international law, remains committed to the Charter of the United Nations and will always defend peace, rejects the unilateral sanctions against the Russian Federation and the intention to subject this country to isolation in international organisations. We advocate for a diplomatic and realistic solution to the current crisis in Europe that would guarantee the security and sovereignty of all, and that would resolve genuine humanitarian problems.

cordmagazine.com

INTERVIEW

EXCLUSIVE

Placing Peace at the Centre Peace is our most precious possession. As we start 2024, we must recommit to the pursuit of peace in all circumstances ~ Françoise Jacob

Françoise Jacob United Nations Resident Coordinator - Serbia By Ljubica Gojgić

ust imagine the power that we could unleash if we focused on peacebuilding, rather than on division, escalation, aggression, war – says UN Resident Coordinator for Serbia Françoise Jacob, speaking in this CorD Magazine interview at the start of a year in which existing crises are set to deepen and new crisis hotspots are emerging. In a world rocked by conflict, the UN remains committed to building

february

peace, while simultaneously struggling to promote solidarity and raise awareness of the perilous consequences of climate change and the challenges posed to humanity by artificial intelligence.

What do you consider as being the greatest challenges facing humanity and the UN this year? — Peace is our most precious possession. As we start 2024, we must re-

commit to the pursuit of peace in all circumstances. “We, the people … determined to save succeeding generations from the scourge of war...” – this is the beginning of the Preamble to the United Nations Charter as adopted in 1945 after WWII. Navigating what is now described as a new multipolar global order will undeniably foster new challenges and geopolitical divides. We see the increased polari-

UN PREAMBLE

DEMOCRACY

INEQUALITIES

“We, the people … determined to save succeeding generations from the scourge of war...” – this is the beginning of the Preamble to the UN Charter as adopted in 1945 after WWII

We see the increased polarisation within societies, and between countries around the world, including in Serbia, as a direct threat to democracy and to shaping a sustainable and peaceful future

We have seen a global wealth increase – with 25 countries having halved their multidimensional poverty in the past 15 Years – but 1.1 billion people remain in poverty

sation within societies, and between countries around the world, including in Serbia, as a direct threat to democracy and to shaping a sustainable and peaceful future. Placing peace at the centre of our endeavours and ambitions will reap different results, including in contested political spaces. Promoting solidarity and addressing inequalities will remain at the core of our actions in 2024. We have seen a global wealth increase – with 25 countries having halved their multidimensional poverty in the past 15 Years – but 1.1 billion people remain in poverty. Climate change, poverty and conflicts are drivers of migration. While we should continue to focus on developing local economies and fair social systems, we must support comprehensive migration policies that focus on protection, respect for human rights and the optimisation of labour needs and opportunities. We have endured four years of successive crises, the pandemic, disruption to global supply markets due to the war in Ukraine and other factors, shifting energy economics, high inflationary trends, a series of climate-related emergencies, and more wars in Sudan, in Gaza. One of the great challenges this year will be to shift our focus towards meaningful, long-term structural transformations that are needed both in societies and in our economies, away from short-termism and the temptation to manage our future through reactive and conservative decisions. Transformation of any kind is often presented as a threat. Instead, we have a unique window to shape a new future, with new opportunities of all kinds, in industries, in education, in agriculture, in jobs.

Across the globe, no election is without its shortcomings, and Serbia’s recent electoral process is no exception. Allegations of irregularities raised during the cycle are serious and must be treated as such

Half way through Agenda 2030, Serbia achieved about

25% of the SDGs. which is slightly above the global average of

18%

Climate change and the ecological crisis remain the biggest longterm threat to humanity. The world is heating up faster than anticipated, generating natural phenomena and disasters of greater magnitude and instability. There are already many technological, social and business solutions available, but now we need genuine political commitments and extensive engagement with the citizens and stakeholders impacted directly, in order to transform them into makers of their own future. The rapid expansion of Artificial Intelligence is also a major challenge. It will lead to dramatic changes in the ways that our societies and economies function, and will accelerate technological progress to solve many problems. The unfettered development of AI could also worsen inequalities and disrupt the social order. We will need to balance the race for profits and power with the need to preserve human rights and dignity.

The conflict in Gaza has already resulted in tens of thousands of deaths, with the victims including many women and children. Do you have the impression that the world is responding in the right way to the alarm calls of the United Nations and appeals to halt the de-

struction of the Palestinian people in the war zone? — The situation in Gaza is appalling and the risk of a broader regional conflict is increasing. A catastrophic humanitarian situation is unfolding. People in Gaza cannot escape anywhere. The loss of life, including in UN personnel, is unprecedented and unacceptable. The UN is committed to maintaining support for the people of Gaza. Our facilities currently provide shelter to over a million civilians, but the conditions are deteriorating by the day. The demand of the United Nations has been consistent: the release of all hostages taken by Hamas on 7th October, 2023; an immediate humanitarian ceasefire and complete adherence to international humanitarian law by all parties involved in the conflict. Our aim is to halt attacks against civilians on both sides, against personnel and infrastructure, particularly healthcare workers and hospitals. The response from the international community needs to be swifter and more substantial, and we welcome the ongoing initiative of top EU diplomats and mediation work from neighbouring countries. Diplomatic efforts also need to intensify in order to secure the release of all hostages and to influence all parties to end this tragic conflict. Protracted conflicts, as they exist in other regions around the world, bring suffering and loss to all parties. Ultimately, regional stability and a peaceful solution for Palestine and Israel hinge on a commitment to finding a solution that works for everyone, including through the application of international law, mediation and dialogue.

cordmagazine.com

It was almost ten years ago that the UN defined its Sustainable Development Goals as part of Agenda 2030. Among other goals, this agenda calls for the creation of a world without poverty and hunger, the reducing of inequalities, decent work for all, a responsible economy, high-quality education and healthcare etc. Is humanity progressing or regressing when it comes to achieving the proclaimed goals of Agenda 2030? — The world is off track when it comes to achieving the SDGs by the 2030 deadline, as ambition, urgency and resources have been lacking amid a series of setbacks. On the positive side, there is now greater awareness that the principles outlined in agenda 2030 are transformative and relevant for every country. Much of the past eight years have been spent testing these principles with the reality on the ground, and finding ways to transform our economies, our relationship with the environment, and the social contract between states and their citizens. We have enough good examples from around the world to really accelerate the pace of change. Everyone needs to contribute – states, municipalities, communities, education institutions, the wider private sector and financing institutions, citizens. Half way through Agenda 2030, Serbia achieved about 25% of the SDGs. which is slightly above the global average of 18%. Serbia is one of 32 countries that recently recommitted to the realisation of Agenda 2030, during the 2023 UN General Assembly. The commitments feature six transitions that will ground the country’s future national development plan in sustainability: the just energy transition; transformation of the education system; social protection and jobs; sustainable food systems; digital transformation; and the fight against the triple planetary crisis. This will provide the blueprint for the work of the UN in the coming years, along with our ambitions to strengthen human capital, expand the human rights and gender agenda and provide safer solutions for refugees and migrants. As for

february

the private sector, the Serbian Chamber of Commerce & Industry and the local UN Global Compact have actively promoted the principles of agenda 2030, such as sustainability in supply chains and human rights in business. Finally, a core principle of Agenda 2030 is to Leave No One behind, which is achieved by identifying the needs of special groups of people, depending on their degree of vulnerability and marginalisation – for example elderly citizens, poor households – and shaping dedicated solutions. Serbia is the first country to have developed a legislative tool to Leave No One Behind, which de facto screens new laws and strategies to ensure such specific provisions. It is yet to be implemented.

Serbia is emerging from another election cycle. Given that “peace,

jor aspect of advancing “peace, justice and strong institutions”, as stated in Agenda 2030, is the willingness to acknowledge and address election imperfections. Constructive criticism should not only be tolerated but encouraged, as it leads to strengthening institutions, advances democratic processes and improves processes and safeguards. This requires transparency, commitment and maturity from all parties, and the recognition that the grievances of all citizens and propositions of multiple stakeholders should be considered.

The UN partnered Serbia on reforms in the area of strengthening human rights during the previous period, as well as providing great support to civil society organisations in their struggle to combat violence, par-

Average monthly reports of domestic violence cases by the Prosecutor’s Office show an increase from 1,500 in 2018 to over 2,000 in 2023, indicating growing trust in institutions and the measures implemented justice and strong institutions” have been defined as one of the pillars of Agenda 2030, and that the rule of law is among the priorities of the UN in Serbia, how do you view the election process and claims of widespread electoral irregularities? — Elections are the cornerstone of democratic societies, serving as a vehicle for citizens to express their will and facilitating the peaceful transfer of power. Across the globe, no election is without its shortcomings, and Serbia’s recent electoral process is no exception. Allegations of irregularities raised during the cycle are serious and must be treated as such. As per procedures, accredited observers, both local and international, along with formal appeals processes, are essential in establishing the credibility and integrity of the elections. Their findings should guide the required corrective actions, without political interference. One ma-

ticularly violence against women and girls. How would you evaluate the situation in this area? — Violence against women and girls continues to be one of the most widespread human rights violations. The whole of society and multiple institutions share the responsibility to address this problem. Judicial institutions, social work centres, healthcare and education institutions, NGOs, local communities and the media all have a crucial role to play. In Serbia, important mechanisms have been put in place, including ratified conventions, laws and mandated requirements for institutions, all of which indicate progress. Average monthly reports of domestic violence cases by the Prosecutor’s Office show an increase from 1,500 in 2018 to over 2,000 in 2023, indicating growing trust in institutions and the measures implemented, yet analyses conducted by civil society organisations show that 80% of

Since 2020, the UN in Serbia has promoted the “just transition” approach. This approach acknowledges the need for economic progress, while simultaneously demanding that it be anchored in social and environmental responsibility. It shapes solutions for the more vulnerable segments of the population in times of deep changes, such as the closing of coal mines. Achieving significant reductions in its greenhouse gas emissions by 2030 is within Serbia’s capabilities, but requires concerted action and integrated policymaking across key economic sectors. To achieve this, we must engage with individuals, industries and communities, communicating the urgency of the matter and the opportunities that lie ahead. That’s why we are calling for collective action and a shared vision of a prosperous but green future. And that, I believe, is what can bring citizens together.

femicides are the result of unreported cases. Women’s organisations report a constant annual average of around 30 cases in family-partner relationships. In Europe, there has been an average decrease in such murders of 20% over the past decade. The missing link is a shift in focus from reporting violence to preventing high-risk situations. Continued education and media programmes for women and girls, as well as for men and boys, with a focus on equal partner relationships, behaviour as an alternative to violence and protection mechanisms, as well as specific programmes for perpetrators, would contribute to reducing violence against women and cases of femicide.

Green transformation is one of the UN’s strategic priorities in Serbia. Efforts linked to the Green Agenda in Serbia range from raising awareness of the importance of environmental protection and the challenges of climate change among citizens to announcements that Serbia could be the site of major mining endeavours that have lasting environmental ramifications. Can a balance really be struck between the call for accelerated industrial development and the Green Agenda? — The green transformation should not be pitched against industrial development, nor infrastructure development. There are many technological solutions, economic models and social approaches that spin the concept of development towards environmentally friendly sustainability! The main threat is resistance to change and rent-seeking behaviours, including from state institutions and parts of the private sector, both investors and individuals. Since 2021, Serbia has adjusted and expanded its legislative and strategic framework to suit the green transformation. It is now time for the state authorities to incentivise the transformation and enforce regulations, including in the case of major mining investments or in the de-

velopment of public infrastructure.

Civil society organisations show that 80% of femicides are the result of unreported cases Monitoring the quality, integrity and compliance of large infrastructure investments with sustainability principles will be equally important for Serbia’s future. Such processes need to be transparent and effective – not only in order to secure a healthy development, but also to address corruption risks that are typically high in any large construction investment programme. Citizens must be informed and must utilise the multiple democratic representation mechanisms and civil society to be heard and to participate meaningfully.

Could you tell us something about the mural that was recently painted on UN House in Belgrade? — The mural is a vibrant image of Serbia’s outstanding biodiversity, crafted by artists Maria and Stefan Soln. Serbia is one of Europe’s six biodiversity hotspots, home to over 40% of Europe’s land mammals and more than two-thirds of its bird species. The mural reminds us of our collective responsibility to protect and nurture this precious, diverse expression of life. Some of the animals depicted on the wall are endangered, symbolising the urgency of action to safeguard this biodiversity, in addition to fighting climate change and pollution. The mural also tells us to incorporate nature into our urban environment, to mitigate the climate crisis and protect the wellbeing of citizens. Cities like Belgrade must make the right choices today that will positively impact our environment and our health for the next 30 years, particularly in terms of sustainable mobility, infrastructure and housing.

cordmagazine.com

Global Diary

There’s no good idea that cannot be improved on Michael Eisner

Former CEO of Disney

WEF Summit Focuses on Trust Rebuilding and Global Solidarity At the 54th annual meeting of the World Economic Forum (WEF) in Davos, leaders from across the globe convened to restore trust and foster global solidarity amidst current economic and geopolitical turbulence. The core theme of the meeting was the re-establishment of trust. UN Secretary-General Antonio Guterres expressed his shock at the systematic undermining of principles and standards once taken for granted, emphasising that rebuilding trust requires profound reforms in global governance to manage geopolitical tensions in a new era of multipolarity. There was cautious optimism about the global economy, though significant concerns about potential pitfalls remained. Over half of surveyed economists anticipated a weaker global economy in 2024. Trade and the digital economy were seen as potential growth and resilience areas.

Turkey’s Parliament Approves Sweden’s NATO Bid

Saudi Arabia Joins BRICS, Expanding Group to 10 Nations Saudi Arabia, the fastest-growing economy in 2022 among the world’s top 20 economies, has officially joined BRICS. Saudi Arabian Foreign Minister Prince Faisal bin Farhan emphasised the importance of the BRICS group as a beneficial and significant channel for enhancing economic cooperation. Alongside Saudi Arabia, the United Arab Emirates, Egypt, Iran, and Ethiopia have also joined, doubling the BRICS membership to 10 countries. Previously, the BRICS bloc consisted of Brazil, Russia, India, China, and South Africa. This move is expected to have a significant impact on the global economy and the geopolitical landscape. With the addition of new members, the BRICS group has become more diverse and is likely to play a more prominent role in shaping the future of international trade and cooperation. 14

february

After extensive deliberations exceeding four hours, Turkey’s parliament has greenlit Sweden’s application to join NATO, overcoming one of the final obstacles in the alliance’s expansion process, which experienced a 20-month standstill. The decision, backed by President Tayyip Erdogan’s ruling AK Party, their nationalist MHP allies, and the primary opposition CHP, garnered widespread support in the general assembly. However, it faced opposition from nationalist, Islamist, and leftist parties. With Turkey’s approval, Hungary remains the sole NATO member pending to ratify Stockholm’s accession to the alliance. The NATO expansion marks a significant move for Sweden, which has remained neutral for over 200 years.

Innovation distinguishes between a leader and a follower Steve Jobs

Former CEO of Apple

Denmark Gets New King, Frederik X Succeeds Margrethe II It was a turning point for the Danish monarchy as Queen Margrethe II officially abdicated the throne after a historic 52-year reign, and her son, Frederik X, ascended to the throne. The 83-year-old Queen signed the abdication papers during a meeting at Christiansborg Palace in Copenhagen, outside of which citizens gathered to celebrate the royal appointment. Prime Minister Mette Frederiksen proclaimed the new King from the palace balcony in a spectacle that, although traditional, is not called a coronation ceremony. King Frederik’s wife, Australian Mary Donaldson, became the Queen consort, and their son, Crown Prince Christian, is next in the line of succession and the current heir to the Danish throne. In a speech addressing the crowd below the Christiansborg Palace balcony, Frederik Tenth praised his mother’s legacy and promised to become the “King of Tomorrow.”

Nuclear Energy Output to Hit Record Highs by 2025

Gabriel Attal: France’s Youngest Prime Minister in History In a historic move, French President Emmanuel Macron has appointed Gabriel Attal as the new Prime Minister of France, making him the youngest person to hold the position. At 34, Attal surpasses even the socialist Laurent Fabius, who was 37 when appointed by François Mitterrand in 1984. Attal replaces Élisabeth Borne, who resigned after serving 20 months in office. Attal’s political ascent has been remarkably swift. Just a decade ago, he was an advisor in the Ministry of Health as a member of the Socialist Party. His career trajectory took a significant turn following Macron’s election in 2017, leading to his appointment as a Member of Parliament, where he distinguished himself as a speaker and gained public attention.

By 2025, nuclear energy production is set to increase as more countries invest in reactors to support the transition to a low-carbon economy. Renewable energy is expected to replace coal as the primary energy source next year, based on forecasts that China, India, Korea, and Europe will commission new reactors. Several reactors in Japan will return to operation, leading to increased production in France. Clean energy sources like wind and solar are expected to fully meet additional needs, with renewables accounting for about a third of global electricity production next year. The Electricity 2024 report shows that global demand for electricity grew by 2.2% in 2023 and is set to climb to about 3.4% from 2024 to 2026. It is clear that the global shift towards a low-carbon economy is driving significant changes in the energy sector, with a greater focus on renewable and nuclear energy expected to continue. cordmagazine.com

february

OPINION

his year’s World Economic Forum in Davos was even more exhausting and bewildering than usual. Politicians love to say that you should never let a crisis go to waste, but even they seemed overwhelmed by a conference agenda that aimed to capture the full sweep of today’s “polycrisis.” The issue is not just that individual problems become more difficult to solve when there are many of them at once. It is that today’s crises are increasingly feeding one another and competing with one another for attention. Against the backdrop of rising geopolitical tensions and the escalating conflict in the Middle East, Houthi attacks on shipping in the Red Sea have become a source of unease across the global economy. Making matters worse, drought conditions in Central America – a byproduct of both cyclical weather patterns and the longerrun effects of climate change – have simultaneously curtailed shipping through the Panama Canal. In Gaza, the humanitarian consequences of the war have worsened by the day, with the Palestinian death toll now exceeding 25,000. On panel after panel at Davos, US officials and assorted European and Arab diplomats outlined their visions for stopping the war through regional integration and a two-state solution. At a time of waning American and European support for Ukraine’s defense, all this attention on the Middle East has left Ukrainian President Volodymyr Zelensky desperately trying to put his country back on the strategic map. Just ahead of the conference, Zelensky organized a meeting of national-security advisers, to whom he delivered an impassioned keynote speech. Ukrainian officials were then dispatched to participate in discussions on everything from artificial intelligence to global trade,

Has the “Polycrisis” Overwhelmed Us? Today’s global crises are not only competing for policymakers’ finite attention; they are increasingly feeding one another in unpredictable ways. Add the uncertainty around this year’s high-stakes elections in the United States and elsewhere, and you have a recipe for a Davos meeting defined by angst and paralysis By Mark Leonard Director of the European Council on Foreign Relations

cordmagazine.com

Microsoft, former Google Executive Chairman Eric Schmidt, and DeepMind co-founder Mustafa Suleyman – among many others. In weighing the opportunities and risks involved, everyone present agreed that AI represents an entirely new – indeed, unprecedented – challenge. There was no shortage of serious discussion about AI regulation, the appropriate role of the state, and what advancements to expect next. But I was most struck by the level of disagreement on how important AI will prove to be. While Suleyman and his fellow technologists believe that it is as consequential as fire or electricity, the historian Niall Ferguson argued that AI – like crypto – has been completely overhyped. Just as social media competes for individuals’ attention, so do global crises. As new, unexpected variables interact with one another in unprealways finding ways to tie the issue back to the war in Ukraine. Ultimately, there was widespread agreement about what it will take to address the crises in both Ukraine and the Middle East. With respect to Gaza, the five key ingredients are: a deal to free the remaining Israeli hostages; progress toward regional normalization between Israel and its Arab neighbors; a realistic pathway toward a two-state solution; a regional effort to revitalize the Palestinian Authority; and a suspension of open hostility on Israel’s northern border with Lebanon. As for Ukraine, US Secretary of State Antony Blinken, in a conversation with the journalist Thomas Friedman, argued that the country would need to maintain a sense of perspective regarding EU and NATO membership. But Blinken also thinks the West has a responsibility to put Ukraine on a sound military, economic, and democratic footing. That all sounds eminently reasonable; but the biggest challenge is reconciling aspirations with political realities in this year of high-stakes elections. While Israeli

february

In weighing the opportunities and risks involved, everyone present agreed that AI represents an entirely new – indeed, unprecedented – challenge Prime Minister Binyamin Netanyahu and Russian President Vladimir Putin seem determined to stick around forever, the reality is that Blinken himself could be a private citizen a year from now. Weighing heavily on the audience’s mind was the crisis of American democracy. Donald Trump may not have been physically present in Davos, but that didn’t stop him from looming over the proceedings. Many questioned whether the Biden administration has enough political capital to pursue the solutions proposed by Blinken and US National Security Adviser Jake Sullivan. And even if they can pursue their policy preferences, what would happen to them if Trump wins? Of all the competing crises, however, the one that stole the show was AI. All the biggest names in the industry where there, including Sam Altman of OpenAI, Satya Nadella of

dictable ways, a sense of overload complicates the search for solutions. The fact that 2024 is an election super-year – with four billion people eligible to vote in more than 70 jurisdictions – adds even more uncertainty. It is no surprise that people are anxious. A major new poll conducted by my own organization, the European Council on Foreign Relations, shows that the five big crises of the past 15 years (the post-2008 global recession, the 2015 migration crisis, COVID-19, the war in Ukraine, and climate change) have split Europeans into “crisis tribes.” In the process, they have forged new, frequently competing political identities. We often complain that the politicians, business leaders, and diplomats who huddle annually in Davos are out of touch with everyday people. But in today’s attention economy, they are just as confused as the people they are meant to represent.

FOCUS

ARE THE RECENT ELECTIONS A PEBBLE OR A BOULDER IN THE GOVERNMENT’S SHOE?

Nobody Knows What’s Good Over the Hill The post-election political situation in Serbia is like a top suspense story, in which democracy will either triumph or perish, regardless of whether we will spend a long time or just a brief period living with the results of these elections t was in the last week of January that Serbian President Aleksandar Vučić announced that a constitutive session for the new convocation of the Serbian Parliament could be expected after 1st February, while a new government could be expected to be unveiled as soon as 15th March. As such, by the time you are reading this article, some of the dilemmas discussed by the featured experts may or may not have been resolved, depending on whether the president’s expectations turn out to have been premature or not. Specifically, it may already be clear from your perspective whether opposition politicians chose to enter the parliament and fight for democratic and fair electoral conditions through the institutions of the system, or whether they opted to continue to mount their struggle primarily through the kind of public gatherings and mass protests that have given them visibility and voter support. One analyst has already described it aptly as a Dark Kingdom in which regret will be by both those that enter and those that don’t – regardless of how we welcome the start of February. Despite this undoubtedly being a decision that will further divide voters, whatever the opposition decides, the question of the government’s position following the events of the elections will also be open and complex, regardless of whether doubts over the results of the election will soon overshadow other topics, both in the media and in re-

february

ality, such as Kosovo or relations with the international community. Simultaneously, the actual decision of the opposition to either enter or remain outside the parliament might not be as important to the outcome as their real capabilities, interests, talent, level of maturity and commitment to the long-term building of their own identity, programme and implementation methods. Our interlocutors’ statements point to numerous possibilities for an epilogue to the current political situation.

FOCUS

Aleksandar Musić political scientist and advisor

Opposition Paying for its Amateurism The government has been running a successful campaign since the first day the election results were announced, and which the opposition has neither the strength nor the prowess to counter hat the government has been doing since election day is

With its amateur campaign, the opposition failed to utilise high-

aggressively imposing a new narrative framework, proac-

ly emotive topics in the campaign (violence and Kosovo), while they

W tive reframing.

Specifically, the government took advantage of the amateurism of the opposition during the campaign, on election day and on election

also accepted election recording and didn’t declare their own results, rather allowing the authorities to declare victory and set the framework, and to now reap the rewards.

night, in order to launch a kind of counterattack in two steps and to

Furthermore, by placing an emphasis on Belgrade, and quietly

fortify itself perceptually, and perceptually absolve the elections. This

ignoring results at the national level, the opposition, consciously or

boils down to a comprehensive procedure in two steps:

not, served the government’s long-standing and carefully created an-

(I) NEUTRALISATION. Government: Post-election protests = anger over defeat, destruction of Serbia, service to the West.

ti-elitist framing of them (“they want Belgrade; they want money; they don’t care about Serbia or about the poor”). Likewise, hunger strikes

In this aspect, the government is utilising the wiggle room it re-

only work if championed by a unique individual, a symbol, someone

ceived with the clear pro-SNS signals provided by the Americans,

who is ready to go all the way and become the face of resistance, its

Russians and most European countries in order to rapidly suppress

symbol, and not if it boils down to a hit-and-miss attempt by a few

the perception of domestic discontent. Externally, he receives favour

people who the government can elegantly ignore, and even ridicule.

from the West and the East, while at the same time, internally, for the mostly pro-Russian public, he portrays this dissatisfaction as an alleged pro-Western overthrow of the legitimate government (‘Maidan’). This perceptually isolates citizens who are dissatisfied with the election process and suspect that they were stolen by painting them as a minority of dubious anti-state elements (“Violence against Serbia”). (II) NEW TOPIC, NEW RULES. Government: This is Serbia in 2025, it’s within easy reach, let’s make it a reality. The government is returning to its central trans-ideological theme

When you head down the wrong road, every subsequent station is perilous.

Independently of accusations about election process irregularities, the government faces trials and tribulations on the foreign policy front and due to structural instability within the party itself

of growth, development, stability. At first glance, this appears to be

For anyone who wants to engage in a political battle, not accepting

a logical theme for any government. However, in the current situa-

mandates is ludicrous, while this act simultaneously almost certain-

tion of widespread tension, broadcasting such a conference live via

ly promotes a new round of media interpretations from the govern-

several dozen television stations and media outlets has a hidden ob-

ment, which will declare the greed of the opposition for the nation-

jective: to shift the focus and public attention as far away as possible

al assembly and budget funds.

from the issue of elections and possible election theft by weaving a

The government is awaited by pressing geopolitical challenges

new topic. In this way, by utilising the record high volume of pro-re-

(Kosovo; promises given to “international partners”) and addressing

gime media space, the government simply announces a new topic

its own structural instabilities (party interests; skeletons in closets),

and a new priority in daily debate. It thereby symbolically sidelines

while the opposition on both the left and the right is awaited by hard

the topic of the election.

work and learning – about proper analysis, work on the ground and

In that sense, the elections are increasingly more of a pebble and less of a boulder in the shoe of the government.

the intelligent, long-term profiling of leaders able to carry the electoral struggle. Now is the time to start preparing for future campaigns.

cordmagazine.com

FOCUS

Dragomir Anđelković political analyst

Postmodern Feudalism Rather a modern, democratic state, Serbia is more reminiscent of a postmodern feudal system – where political elites clash in an effort to improve their personal positions, before periodically reaching settlements

hether the outcome of the elections, or everything that came afterwards, represents a pebble or a boulder in the shoe of the government depends, first and foremost, on the conduct of its opponents, and they lack winning tactics. If the opposition lists had refused to enter the national and Belgrade assemblies, that would have posed a major problem for Vučić. A parliament without an opposition is reminiscent of the kind of undemocratic states that are stigmatised in the West, and the Serbian regime’s leader doesn’t want to be associated with their holders of power. That would only serve to expose Vučić’s quasi-democratic, authoritarian system. Black and white forms of political relations would lead even to Vučić’s lobbyists in the EU – who have so far successfully prevented his conduct from receiving appropriate media coverage and political handling – being unable to continue sweeping what is happening in Serbia under the rug. That would then be a huge boulder for the country’s president, one that would quickly sink him to the bottom. On the other side, the increasing certainty that the opposition will enter both assemblies represents the legalisation of the regime’s enormous election theft and consenting to future political processes continuing to unfold according to Vučić’s rules, meaning rigged elections being held for the sake of looking the part and no possibility of changing anything in the foreseeable future. Those who thus undermine

february

the growing dissatisfaction of citizens remove even the tiniest pebble from Vučić’s shoe. An opposition that consents to this is just as much to blame as the government for the current situation in Serbia. In such a case, it is obvious that work on ego-based combinations is being done for personal gain, with complete disregard for the public interest. Considering such a state of affairs, Serbia is more reminiscent of a postmodern feudal system – where political elites clash in an effort to improve their personal positions, before periodically reaching settlements – than a modern, democratic state.

We will be told a lot by the verifying or rejecting of mandates, or by consenting to participate in repeat elections without drastically improving the conditions under which they are held Citizens certainly have no prospects in such a country, while political circles can profit in proportion to their unscrupulousness, even if they lack any kinds of qualities that are useful to the collective. We will see whether that is the case in just a few days, or whether a chance still exists for the political forces that are formally in opposition to Vučić to actually represent that position in the real world and aren’t just posturing.

FOCUS

Giorgio Fruscione Research Fellow and publications editor at ISPI

The Regime Can’t Get Away With Everything It is likely that the new government will be less autocratic and more flexible. However, this won’t ease the opposition’s task of building a clear political programme and running a campaign in order to create a stable platform for future political battles think the results of the elections were expected by the Serbian government, though perhaps the regime didn’t expect the reactions to the blatant electoral fraud. So, the irregularities may now open the issue of political legitimacy for Vučić’s SNS, at least when it comes to Belgrade. At the level of the capital city, there are two main options: either SNS will form a new political coalition, most probably with conspiracy theorist Nestorović; or it will consent to a repetition of the vote. The first scenario is more likely, as Vučić would never acknowledge that he stole votes. Moreover, international pressure on Belgrade has been weakening, with the escalation of the conflict in the Middle East and other regions of the world having already occupied the attention of European leaders, who will probably be more inclined to continue accepting Vučić’s rule than to support the Serbian opposition – which is too heterogeneous and fragmented over foreign policy issues, namely Kosovo. In my opinion, there is no sense in the opposition rejecting the mandates it has secured. No opposition coalition has secured this many mandates since Vučić first came to power: in 12 years, this was the first time that a party (or presidential candidate) overcame the benchmark of 20% of votes. Given the regime’s absolute media monopoly, the unfair conditions ahead of elections and the electoral irregularities, the opposition must be proud of such a result and shouldn’t relinquish its fight even within the assemblies that it has entered. However, the ‘Serbia Against Violence’ (SNP) coalition has not accepted the results and will continue to protest – as it has said – on three fronts: institutions, international community, and the streets. This is a consistent strategy: the SNP was born as a mass protest and is now trying to draw new political lifeblood on the streets, where it began its fight.

When it comes to future scenarios, it is hard to predict long-term outcomes. However, the regime must acknowledge that it cannot get away with everything. Serbia has long been in the international spotlight. Over the last two years, Serbia has not aligned with Western foreign policy and sanctions against Russia, representing the only European country – and EU candidate – to do so; it fuelled several bouts of unrest in Kosovo, culminating in the Banjska affair, with serious doubts that the commando was directly supported and controlled from Belgrade. None of these happenings resulted in Serbia being sanctioned, and it is now back in the spotlight because of election fraud. I think this will push for a change

The Serbia Against Violence coalition, born from mass protests, now maintains a consistent strategy across institutions, the international community, and the streets, seeking to revitalise political momentum in the place where its fight began in the new government, which should appear less autocratic and more open to negotiation. In general, I think the government will have a more European appearance, perhaps by dissolving its coalition with the Socialist Party of Serbia. On the other hand, the opposition must unite behind a political programme that extends beyond merely opposing Vučić. It must show that, besides street protests, it also has a clearly defined political offer and a political identity, in order to create a stable platform for future political battles.

cordmagazine.com

Photo Radenko Topalović

FOCUS

Jasmina Lukač journalist

Flagrant Fraud Aleksandar Vučić easily managed to carry out electoral fraud in front of the public, both the Serbian and European public, and he must nonetheless be congratulated for that

e deserves to be congratulated for at least two reasons. Firstly, due to his successful restoration of the reservoir of patriotic legitimacy, which was “filled” with the criticisms and statements of European politicians regarding the election day of 17th December. It was enough for him to mention “interference in our elections” to his voters for Vučić to retain his voluntary voters, and to them he has already justified all the concessions he grants to Albin Kurti. He thereby proves perfectly to the Serbian public that his hands are “firmly” tied when it comes to protecting the rights of Serbs in Kosovo. The second reason is that he thereby simultaneously provides a strategic exit to the pro-Western ‘Serbia against violence’ [SPN] opposition coalition. The SPN hasn’t recorded a single election victory over Vučić, but it has prompted the “punishing of the regime” on the part of European officials, and it thus has a success with which it can continue leading its voters, retaining their support despite their disappointment. There is thus a continuation of the same challenge that we saw after the 2017 or 2022 elections, summed up in the fact that Vučić will continue rigging elections until some opposition figures are themselves in a position to rig or destroy them. Until then, Vučić’s regime firmly remains on the NATO course, if not quite on the European Union course, because as Yanis Varoufakis has written, the NATO concept tolerates dictatorships (previously in Spain, Greece and Portugal), while that tolerance has been beyond the concept of the EU to date. Otherwise, the main point of contention between the EU and Serbian voters lies in the fact that Serbian voters expect Brussels to deliver on the rule of law, or to ensure equality before the law and justice, while the EU view is the oth-

february

er way around, whereby Serbian voters should deliver on this in order to move closer to Brussels. Provided there are no sudden shifts in Kosovo, like the one-day war of 24th September in Banjska, or the inclusion of Vučić or some member of his family on the U.S. sanctions list, as is the case with Milorad Dodik, everything will continue as it has so far. The SPN will accept its election mandates, with obstruction in some form, and will probably even accept those for the Belgrade City Assembly, given that the protests against election rigging didn’t achieve mass participation. The passage of time is making it increasingly certain that there will be no new Belgrade elections either.

Absent some unforeseen occurrence, everything will remain as it has to date, and the remaining local elections might only serve to further consolidate Vučić’s victory, and not the other way around, as the opposition believes And when spring brings local elections to the remaining half of the country’s local governments, Vučić won’t even bother conducting the same barefaced election fraud, but rather will allow them to unfold in the shadow of European Parliament elections. That’s because his voting strongholds remain even firmer, despite the inaccurate claims of the SPN that the only places not included in last December’s elections were those where SNS’s rating is falling and weakening. Quite the contrary.

FOCUS

Vida Petrović Škero President of the Judicial Research Centre (CEPRIS); former president of the Supreme Court of Serbia

Government on the Road of No Return We don’t know what kind of decision will be brought by MEPs, but the pebble in the government’s shoe has clearly grown into a boulder, and it will gradually find it increasingly difficult to walk along the road to the EU t is obvious that the government has constructed electoral engineering, which is evidenced by the well-planned migration of citizens from Serbia and Serbs who live in Republika Srpska, which was the most important factor to ensure the results of local elections, primarily in Belgrade. Serbia’s competent authorities – the election commission, prosecution service and courts – haven’t yet implemented the activities necessary to investigate, in a transparent way, all credible reports and evidence submitted with regard to the irregularities of the December elections. Those elections represented a pebble in the government’s shoe. Discussing Serbia’s elections then made it onto the daily agenda of a European Parliament session. According to the head of the EP election observation mission, “what’s new is the brutal openness with which these irregularities took place”, so “it looked like the Serbian authorities did not even care. Why? Because they are still confident that nothing will happen.” But it has already happened, and MEPs will vote on a resolution on the elections at a plenary session to be held in the first week of February. We don’t know what kind of decision they will make, nor are we obliged to implement it, but it is clear that the pebble has grown into a boulder, with the increasing likelihood that the government’s shoes will fill with rocks that will make it very difficult to walk along the road to the EU. When it comes to the question of whether it makes sense to reject the mandates won, the united opposition will have to answer with a unified decision. A government isn’t legitimate when it has been elected illegitimately. The government is announcing the constituting

of the Assembly, followed by voting on the government, before all legal means can be utilised to confirm the regularity of the elections and make decisions accordingly. If opposition MPs reject their mandates, we will have a de facto one-party parliament, leaving the opposition with no visibility, nor the possibility of participating in political life. If the opposition accepts the allotted mandates, it could be criticised for participating in the work of illegitimate institutions, though it will be able to participate in decision-making in government institutions, and will be visible. The first option could make sense, in advocating for ethics and respect for democratic standards, but with a lack of expediency. The second option

If Serbia wants to live in a dignified way, it must implement urgent electoral reforms in order to restore citizens’ real sovereignty, which mustn’t be appropriated by any individual or political organisation has expedience and represents the will of voters for the opposition to participate in exercising power. What kinds of enduring outcomes are possible for the government and the opposition? The government has already endured, with ruined institutions, drowning in corruption and organised crime, without required experts. An extension of that longevity unavoidably leads to a loss of power. The opposition, whoever it is and whenever it comes to power, will be faced by a country devoid of assets, youth and experts.

cordmagazine.com

FOCUS

Vladimir Vuletić professor of the University of Belgrade’s Faculty of Philosophy, Department of Sociology

Repeat Elections Aren’t an Option for the Government This isn’t the first time that elections in Serbia have been followed by protests. And instead of leading to a reduction of political tension, it seems as though they are fuelling it he question of whether these elections could become a stone in the shoe of the government depends on whether international arbitration will be forthcoming, or whether these problems will be resolved through the OSCE. If it came to that, the government could be under pressure not only with regard to election procedures, but also – as shown by the recent European Parliament discussion – with regard to other topics, such as recognition of Kosovo’s independence and the imposing of sanctions on Russia. The opposition’s dilemma over whether or not to reject the mandates that it won is linked to the question of the kind of extension of the political struggle being planned. If they accept the mandates, the opposition could continue questioning election regularity verbally and institutionally, but there’s no doubt that contesting the elections from the parliamentary benches would appear less convincing to ordinary citizens, and even their own supporters, than if they refused to accept the mandates. However, rejecting mandates would only have a marked effect if the opposition is able, on the one hand, to gather together a critical mass for lasting protests, while on the other hand securing unwavering support from key power centres in the West. Only if this is the case could they create a serious political crisis and force repeat elections. If they cannot secure those two conditions, rejecting their mandates would only condemn them to non-parliamentary status, and that would probably mark the end of such opposition. Of course, a national assembly devoid of opposition MPs would reduce the legitimacy of the highest legislative body and call into question the country’s

february

international reputation. However, considering the development goals and economic objectives that the government is setting for itself, it seems as though a mere boycott of the opposition, without significant support from citizens and pressure from the outside world, wouldn’t bother them much, so repeating these elections isn’t an option for the government. What could possibly happen, as a kind of intermediate solution, is new city elections that would come in the case that the ruling coalition fails to secure the required majority to form a new city government. In that case, new elections would likely be held, together with elections for all other local assemblies. However, a question remains over whether those new elections would bring more support to the gov-

Even if Belgrade elections were repeated, a question remains over whether the opposition, which would face the task of mobilising all those who don’t vote for the government, would really succeed in securing a majority ernment or the opposition. The ruling coalition is closer to its goal and could, with the maximum use of all resources, more easily achieve the required majority. In order to achieve its own goal, it would be necessary for the opposition to gather under the same banner and mobilise for election participation all those who don’t vote for the government, which isn’t realistic.

INCREDIBLE INDIA SPECIAL EDITION – REPUBLIC DAY OF INDIA 2024

Indian Economy:

Growing Steadily trong economic growth in the first quarter of Financial Year 2023 helped India overcome the UK to become the fifth-largest economy after it recovered from the COVID-19 pandemic shock. Real GDP at constant prices (2011-12) in the first quarter of 2023–24 is estimated at Rs. 40.37 trillion (US$ 484.94 billion), showing a growth of 7.8% as compared to the first quarter of 2022-23 estimated at Rs. 37.44 trillion (US$ 449.74 billion). Given the release of pent-up demand and the widespread vaccination coverage, the contact-intensive services sector will probably be the main driver of development in 2022–2023. In 2023-24 (April-September), India’s service exports stood at US$ 164.89 billion. Furthermore, India’s overall exports (services and merchandise) in 2023-24 (April-September) were estimated at US$ 376.29 billion. Rising employment and substantially increasing private consumption, supported by rising consumer sentiment, will support GDP growth in the coming months. Future capital spending of the government in the economy is expected to be supported by

factors such as tax buoyancy, the streamlined tax system with low rates, a thorough assessment and rationalisation of the tariff structure, and the digitization of tax filing. In the medium run, increased capital spending on infrastructure and asset-building projects is set to increase growth multipliers, and with the revival in monsoon and the Kharif sowing, agriculture is also picking up momentum. The contact-based services sector has largely demonstrated promise to boost growth by unleashing the pent-up demand over the period of April-December 2022. The sector’s success is being captured by a number of HFIs (High-Frequency Indicators) that are performing well, indicating the beginnings of a comeback. India has emerged as the fastest-growing major economy in the world and is expected to be one of the top three economic powers in the world over the next 10-15 years, backed by its robust democracy and strong partnerships. India’s appeal as a destination for investments has grown stronger and more sustainable as a result of the current period of global unpredictability and volatility, and the record amounts of INDIA 2024

money raised by India-focused funds in 2022 are evidence of investor faith in the “Invest in India” narrative. India’s nominal gross domestic product (GDP) at current prices is estimated to be at Rs. 301.75 trillion (US$ 3.62 trillion) in 2023-24. Additionally, the Nominal GDP at current prices in Q1 of 2023-24 was Rs. 70.67 trillion (US$ 848.92 billion), as against Rs. 65.42 trillion (US$ 785.85 billion) in 2022-23, estimating a growth of 8%. With 115 unicorns valued at more than US$ 350 billion, as of February 2023, India presently has the third-largest unicorn base in the world. The government is also focusing on renewable sources by achieving 40% of its energy from non-fossil sources by 2030. India is committed to achievcordmagazine.com

ing the country’s ambition of Net Zero Emissions by 2070 through a five-pronged strategy, ‘Panchamrit’. Moreover, India ranked 3rd in the renewable energy country attractive index. Exports fared remarkably well during the pandemic and aided recovery when all other growth engines were losing steam in terms of their contribution to GDP. Going forward, the contribution of merchandise exports may waver as several of India’s trade partners witness an economic slowdown. According to Mr. Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Indian exports are expected to reach US$ 1 trillion by 2030 . Source: ibef.org 29

Cement Industry in India

ndia is the second-largest producer of cement in the world. It accounts for more than 8% of the global installed capacity. India has a lot of potential for development in the infrastructure and construction sector and the cement sector is expected to largely benefit from it. Furthermore, on the back of rising rural housing demand, the consumption of cement in India has been growing consistently as it is one of the cheapest products to buy in terms of Rs./kg. Strong expansion of the industrial sector, which has fully recovered from the COVID-19 pandemic shock, is one of the main demand drivers for the cement industry. As a result, there is a strong potential for an increase in the long-term demand for the cement industry.

Some of the recent initiatives, such as the development of 98 smart cities, are expected to significantly boost the sector. Aided by suitable Government foreign policies, several foreign players such as Lafarge-Holcim, Heidelberg Cement, and Vicat have invested in the country in the recent past. A significant factor which aids the growth of this sector is the ready availability of raw materials for making cement, such as limestone and coal. Currently, the installed cement capacity in India is 553 MTPA with a production of 298 MTPA. The cement demand in India is exhibiting a CAGR of 5.65% between 2016-22. As India has a high quantity and quality of limestone deposits throughout the country, the cement industry promises huge potential for growth. India has a total of 210 large cement plants, of which 77 are in Andhra Pradesh, Rajasthan, and Tamil Nadu. Nearly 32% of India’s cement production capacity is based in South India, 20% in North India, 13% in Central, 15% in West India, and the remaining 20% is based in East India. India’s cement production is expected to increase at a CAGR of 5.65% between FY16-22, driven by demands in roads, urban infrastructure and commercial real estate. India’s cement production was expected to range between 380-390 million tonnes in FY23, a growth rate of 8-9% year-on-year (yoy). Between FY12 and FY23, the installed capacity grew by 61% to 570 MT from 353 in FY22. The Indian cement sector’s capacity is expected to expand at a compound annual growth rate (CAGR) of 4-5% over the four-year period up to the end of the FY27. It would thus begin the 2028 financial year at 715-725 MT/ year in installed capacity. India’s cement production for FY24 is expected to grow by 7-8% driven by infrastructure-led investment and mass residential projects. Source: ibef.org INDIA 2024

Automobile Industry in India he Indian automobile industry has historically been a good indicator of how well the economy is doing, as the automobile sector plays a key role in both macroeconomic expansion and technological advancement. The two-wheelers segment dominates the market in terms of volume, owing to a growing middle class and a huge percentage of India’s population being young. Moreover, the growing interest of companies in exploring the rural markets further aided the growth of the sector. The rising logistics and passenger transportation industries are driving up demand for commercial vehicles. Future market growth is anticipated to be fueled by new trends including the electrification of vehicles, particularly three-wheelers and small passenger automobiles. India enjoys a strong position in the global heavy vehicles market as it is the largest tractor producer, second-largest bus manufacturer, and third-largest heavy truck manufacturer in the world. India’s annual production of automobiles in FY22 was 22.93 million vehicles. India has a strong market in terms of domestic demand and exports. In FY23, total passenger vehicle sales reached 3.89 million. In FY23, total automobile exports from India stood at 47,61,487. This sector's share of the national GDP increased from 2.77% in 1992-1993 to around 7.1% presently. It employs about 19 million people directly and indirectly. India is also a prominent auto exporter and has strong export growth expectations for the near future. In addition, several initiatives by the Government of India such as the Automotive Mission Plan 2026, scrappage policy, and production-linked incentive scheme in the Indian market are expected to make India one of the global leaders in the two-wheeler and four-wheeler market. (Source: ibef.org)

BHARAT MOBILITY 2024 is a mega event being organized by multiple industry bodies like the Engineering Export Promotion Council (EEPC), the Society of Indian Automobile Manufacturers (SIAM) and Automotive Component Manufacturers Assocordmagazine.com

(https://bharat-mobility.com) (1-3 Feb. 2024)

ciation (ACMA) under the overall guidance of Ministry of Commerce & Industry is scheduled from 13 February 2024 at Bharat mandapam, New Delhi. In contrast to regular auto expos, Bharat Mobility Show will concentrate on the future. It will cover more than just cars, incorporating drones to position India in the future mobility space. The event aims to bridge gaps in the industry, fostering collaboration for the future of mobility in India. A mega event covering the entire value chain of the Mobility Industry including automobiles, automotive components, tyre manufacturing, energy storage solutions, urban mobility, alternative fuels, cutting-edge technology- all seamlessly brought together at a single venue. A “mega” auto mobility show to bring together various industry stakeholders under one roof, it will be unlike the biennially held Auto Expo and Auto Components Expo which focus more on new product launches and will feature specialized exhibitions such as ACMA Automechanika, an auto show, a large-scale tyre exhibition, display of the latest electric vehicles (EVs), urban mobility solutions such as drones, batteries, charging stations, multiple energy sources and cutting-edge automotive and information technologies initiatives in EVs, hybrid, hydrogen, CNG/LNG, Ethanol/Biofuels etc.

For more details, please contact Mr. Suranjan Gupta, Executive Director, EEPC India, sgupta@eepcindia.net, ed@eepcinidia.net or Commercial Wing of the Embassy of India in Belgrade hoc.belgrade@mea.gov.in 31

Prime Minister Narendra Modi’s address during 2nd edition of Infinity Forum [A Global thought Leadership Platform on Fintech] on 9 December 2023

GIFT CITY, GUJARAT

he popular Chief Minister of Gujarat, Shri Bhupendrabhai, the ministers of the state government, Chairman of IFSCA, K. Rajaraman ji, esteemed leaders of renowned financial institutions and various organizations, ladies and gentlemen. I welcome all of you to the second edition of Infinity Forum. I remember when we met during the inaugural Infinity Forum in December 2021; the world was filled with uncertainty due to the pandemic. Everyone was concerned about global economic growth, and those worries still persist today. You are all well aware of the challenges posed by geopolitical tensions, high inflation, and debt levels. During such times, Bharat has emerged as a splendid example of resilience and progress. The deliberation on 21st-century economic policies in GIFT City in such a crucial period is going to contribute to the pride of Gujarat. Today, I would also like to congratulate the people of Gujarat for another achievement. Recently, UNESCO included Gujarat’s traditional dance Garba in the Intangible Cultural Heritage. This is a significant ac-

complishment, and the success of Gujarat is the success of the country. Today, Bharat’s growth story has shown the world what results can be achieved when policies are given top priority, when full efforts are made for good governance, and when the welfare of the country and its citizens becomes the foundation of economic policies. The Indian economy has progressed at a rate of 7.7 per cent in the first six months of this fiscal year alone. The IMF had stated in September this year that 16 percent of global growth in 2023 will be contributed by Bharat. Earlier in July 2023, the World Bank expressed greater hopes for Bharat and its economy amid global challenges. In March this year, the Prime Minister of Australia remarked that Bharat is in a strong position to provide leadership to the global south. A few months ago, the World Economic Forum also mentioned the reduction of red tape and the creation of a better investment environment in Bharat. Today, the entire world is hopeful about Bharat, and this hasn’t happened without reason. It is a reflection of Bharat’s strong economy and the transformative reforms undertaken in the last

10 years. These reforms have strengthened the economic foundations of the country. During the pandemic, when most countries were focusing primarily on fiscal and monetary relief, we directed our focus towards the expansion of longterm growth and economic capacity. An important goal of our reforms is to enhance integration with the global economy. We have made the FDI policy more flexible in several sectors, reduced compliance burdens, signed three FTAs, and continue to take many significant steps today. The establishment of the GIFT IFSCA, integrating Indian financial markets with global financial markets, is part of our larger reforms. The vision for GIFT City has been crafted as a dynamic ecosystem that will redefine the landscape of international finance. It will set new benchmarks for innovation, efficiency, and global collaboration. The establishment of the International Financial Services Centres Authority as a unified regulator in 2020 is a crucial landmark in this journey. Even during the challenging economic upheavals, IFSCA has formulated 27 regulations and more than 10 frameworks, opening up new avenues for investment. INDIA 2024

You’ll be pleased to know that based on the suggestions made in the first edition of Infinity Forum, several initiatives have been launched. For instance, in April 2022, IFSCA announced a comprehensive framework to govern fund management activities. Today, 80 fund management institutions are registered with IFSCA that have set up funds exceeding USD 24 billion. Two leading international universities have obtained approval to start their courses at GIFT IFSC from 2024. The framework for aircraft leasing was issued by IFSCA in May 2022, and now 26 units have commenced operations in collaboration with IFSCA. The resounding success of the first edition, with so much work done based on your suggestions, naturally raises the question of what’s next. Will the scope of GIFT IFSCA remain the same? My answer would be no. The government aims to propel GIFT IFSCA beyond traditional finance and ventures. We envision GIFT City as the global nerve centre for new-age financial and technology services. I believe that the products and services of GIFT City will help address significant challenges globally, and you, as stakeholders, will have to play a crucial role in this regard. Today, one of the most significant challenges facing the world is climate change. Bharat, being one of the largest economies globally, is not untouched by these concerns, and we are aware of it. Just a few days ago, Bharat presented new commitments before the world at the COP Summit. To achieve global targets for Bharat and the world, it is imperative to ensure the adequate availability of cost-effective finance. During our G-20 presidency, one of our priorities was to understand the need for sustainable finance to ensure global growth and stability. This would contribute to the transition towards greener, resilient, and inclusive societies and economies. According to some estimates, Bharat would require at least USD 10 trillion by 2070 to achieve the Net Zero Target. Financing from global sources is essential for this investment. Hence, we aim to make IFSC a global hub for sustainable finance. cordmagazine.com

GIFT IFSC serves as an efficient channel for the necessary flow of green capital to build a low-carbon economy in Bharat. The development of financial products such as green bonds, sustainable bonds, and sustainability-linked bonds will make the path and access easier for the entire world. As you know, Bharat has announced the ‘Global Green Credit Initiative’ as a pro-planet initiative at COP28. I would appreciate input from all experienced individuals here on developing market mechanisms for green credit. Bharat is currently one of the world’s fastest-growing fintech markets. The strength of Bharat in fintech is aligned with the vision of GIFT IFSC, making it an emerging centre for fintech. In 2022, IFSCA issued a progressive regulatory framework for fintech. To promote innovation and entrepreneurship, IFSCA also has a fintech initiative scheme providing grants to both Indian and foreign fintechs. GIFT City has the potential to become the gateway and fintech laboratory for the global fintech world. I encourage all of you to make the most of this opportunity. Within a few years of its establishment, the way GIFT-IFSC has become a prominent gateway for the flow of global capital is a subject of study in itself. GIFT City has developed a unique ‘tri-city’ concept. The connectivity of GIFT City between the historical city of Ahmedabad and the capital city Gandhinagar is exceptional. The cutting-edge digital infrastructure of GIFT IFSC provides a platform that enhances the speed and efficiency of businesses. You are well aware of its global connectivity. GIFT IFSC has emerged as a management that attracts the biggest minds in the financial and technology world. Today, there are 580 operational entities in IFSC. This includes 3 exchanges, including the international bullion exchange, 25 banks, with 9 foreign banks, 29 insurance entities, 2 foreign universities, and over 50 professional services providers, including consulting firms, law firms, and CA firms. I believe that GIFT City will be among the world’s pre-

mier international financial centres in the next few years. Bharat is a country where deep democratic values coexist with a rich tradition of trade and commerce. There is a diverse range of opportunities for every investor or company in Bharat. Our vision for GIFT is intertwined with Bharat’s growth story. Let me share some examples. Today, 400,000 air passengers travel daily. The number of passenger aircraft in our country in 2014 was 400, which has now exceeded 700. In the last 9 years, the number of aircraft in Bharat has doubled. In the coming years, our airlines are planning to purchase around 1000 aircraft. In these circumstances, the range of facilities provided by GIFT City to aircraft lessors is truly remarkable. With the increasing movement of goods via water routes and a growing number of ships in Bharat, IFSCA’s ship leasing framework is offering an opportunity to capitalize on this trend. Similarly, Bharat’s strong IT talent, data protection laws, and GIFT’s data embassy initiative provide secure digital connectivity to countries and businesses. Thanks to the young talent in Bharat, we have become the base for global capability centres of many major companies. In the next few years, Bharat will become the world’s third-largest economy, and it aims to be a developed nation by 2047. New forms of capital, digital technologies, and advanced financial services will play a crucial role in this journey. With its efficient regulations, plug-andplay infrastructure, reach to the large Indian hinterland economy, cost advantages, and talent pool, GIFT City is preparing opportunities that are unmatched by any other. Let’s move forward together to fulfill global dreams with GIFT IFSC. The Vibrant Gujarat Global Investor Summit is just around the corner, and I invite all investors to participate in it. I extend my best wishes for your efforts. Let’s explore innovative ideas in addressing global challenges and take them forward. Source: Government of India 33

2nd CII India Europe Business and Sustainability Conclave: 20-21 February 2024 in New Delhi

(https://ciiindiaeuropeconclave.in)

CII [Confedertion of Indian Industry] in partnership with the Ministry of External Affairs, Government of India will be organizing the second edition of the Conclave from 20 - 21 February 2024 in New Delhi. The Conclave will be one of the largest congregations of European and Indian stake holders, cutting across different sectors. It will focus on the strategic role between both the regions in changing geo-political scenario, strengthening bilateral engagements and the emerging economic opportunities. We will aim to bring together government officials, industry experts, think tanks, and academia to deliberate and share their insights on critical issues. Europe is India’s second largest trading partner and has consistently been among India’s top (10-12) global partners. Bilateral trade between India and Europe in 2022-23 has been USD 185.16 Billion. India’s total exports to Europe in 2022 – 2023 is USD 96.90 Billion and Indian imports to Europe has been USD 88.26 Billion. Europe solely contributes 21.8% share in India’s total exports. The formal announcement of the ambitious India-Middle East-Europe Economic Corridor

Further information may be obtained from Embassy of India, Belgrade (hoc.belgrade@mea.gov.in) 34

(IMEC), during the G20 Summit in 2023 has opened doors for strengthening trade relations between India, Middle Eastern and European nations. The project aims to establish railways, ports, electricity grids, hydrogen pipelines, and data networks among participating nations. This is aimed at unlocking greater investment for infrastructure development and strengthening connectivity in its various dimensions between India, Middle East and Europe. To take forward the agenda of “India – Europe partnership for better sustainable future” and to build upon the takeaways of the first edition of CII India Europe Business & Sustainability Conclave, Confederation of Indian Industry (CII) in partnership with Ministry of External Affairs, Government of India decided to partner to organise the 2nd Edition of the CII India Europe Business & Sustainability Conclave. The Conclave will aim at putting forward the business perspectives and priorities and deliberating on the opportunities and challenges for businesses in India and Europe. Source:cii.in INDIA 2024

India-Serbia Bilateral Relations : Important milestones 2023 Both the countries celebrated the 75th anniversary of establishment of diplomatic relations in 2023. To mark this anniversary, the Archives of Yugoslavia in Belgrade organized an event on 11 December 2023 in coordination with the Ministry of Foreign Affairs of Serbia and participation of the Embassy of India in Belgrade.

cordmagazine.com

At the invitation of H.E. Mr. Aleksandar Vucic, President of the Republic of Serbia, H.E. Mrs. Droupadi Murmu, President of India paid a State visit to Serbia from 7-9 June 2023. This was her first visit to Europe, and the first-ever visit by a Head of State of either country. President was accompanied by Sadhvi Niranjan Jyoti, Minister of State for Rural Development, Consumer Affairs, Food & Public Distribution, and Smt. Rama Devi, Member of Parliament, Lok Sabha, and an official delegation. Her visit reaffirmed the strong and historic relations between the two countries. The visit also provided fresh momentum to our bilateral ties, especially economic.

INDIA 2024

Ambassador Ms. Shubhdarshini Tripathi presented her credentials to President Aleksandar Vucic on 2 October 2023 in Belgrade Embassy of India, Belgrade organised the Indian Technical and Economic operation Day 2023 on 18 December 2023 to celebrate 59 glorious years of building capacity for global good. In her address at the celebration, Indian Ambassador Ms. Shubhdarshini Tripathi, gave an overview of the ITEC programme which covers over 300 training courses of different duration in premier training institutes of India to over 160 friendly foreign countries since 1964. Serbia is one of the ITEC partner countries and since 2008, 168 Serbian mid-level career professionals have undergone courses on a wide and diverse range of skills and disciplines, including in ICT, Expenditure Management, Entrepreneurship, WTO, Banking & Finance, Renewable Energy, Climate Change, Legislative Drafting, Yoga, English proficiency etc. Hence, India has been contributing in its own way, to capacity building in Serbia. cordmagazine.com

Business Dialogue LEADERS’ MEETING POINT

Only the Best for Travellers AVOLTA

Executive MBA GameChanger RAJKA ŠINIK VULIĆ

FEATURE

director of Rome Business School Belgrade Page 40

Is the Outlook for the Global Economy Still Bullish?

Page 44

Page 48

cordmagazine.com

Only the Best for Travellers

Images: Avolta –The renders are depictions of the expected designs for the stores

Avolta has secured a new seven-year contract at Belgrade Nikola Tesla Airport that encompasses ten duty free shops and includes hybrid elements with food & beverages, occupying a total area of more than 3,500m2

aving successfully operated the duty-free stores in the airport since 2006, this new contract signifies more than just the extension of a business agreement; it symbolises the strengthening of Avolta’s presence in Eastern Europe. Avolta is delighted to announce the win of a new seven-year concession contract at Belgrade Nikola Tesla Airport, encompassing the operation of ten duty-free shops, including hybrid elements. With a combined floorspace of more than 3,500 m², these new shops will offer a distinctive travel retail experience masterfully blended with food & beverage for travellers through Serbia’s

february

busiest airport, strengthening Avolta’s presence in Eastern Europe. Having successfully operated the duty-free stores in the airport since 2006, this contract win signifies more than just the extension of a business agreement; it symbolises an opportunity for Avolta to deepen its collaboration with airport partners, innovating through hybrid concepts, giving travellers the best of both travel retail and F&B. In this way, it further reinforces the value fostering innovation and delivering a superior travel experience seamlessly integrating retail and F&B services.

The centrepiece of the new retail space is a remarkably sized walk-through duty-free store, the newest of Avolta’s ‘store of the future’, showcasing a strong sense of place with a diverse range of brands and travel exclusive products across all core product categories. Alongside a sleek and interactive Apple shop-in-shop concept, Avolta introduces two additional shop-in-shop concepts, its latest wellbeing concept mind. body. soul. catering to the growing demand for health, wellbeing and sustainability focused products, as well as its immersive phygital experien-

Alongside an Apple shop-in-shop concept, Avolta is introducing two additional shop-in-shop concepts – its wellbeing concept mind. body. soul.

Miodrag Mirkovic, Chief Commercial Officer at Belgrade Airport, said, “We are delighted to continue the successful cooperation with Avolta and enhance it further, thanks to the three times larger future commercial areas than before. The planned storeof-the-future concept at our airport will be among the first in Europe, and our passengers will be able to enjoy the next level of design innovations, engagement and comfort offered.“

tial concept Haute Parfumerie, elevating the fragrance discovery experience. Leveraging Avolta’s travel retail and food & beverage strengths, the new space includes a strong hybrid element to this expansive space with three distinct food & beverage concepts. A Welcome Bar greets travellers at every entrance with a range of beverages and ice-cream and a small seating area, while our mind. body. soul. café builds on the shop-in-shop concept to offer organic products like fresh juices and healthy raw cakes with a dedicated small seated area. Our Rakia Bar, celebrating the region’s potent fruit brandies, offers a full selection of Rakia with customer sampling in a large bar and seated area complemented with a full menu of warm meals and sandwiches. In addition, Avolta will operate five fashion boutiques representing renowned brands such as Boss, Ralph Lauren, Michael Kors, Victoria‘s Secret and Avolta’s multibrand store concept Urban Attitude. Two dedicated children’s shops, Candy Fair and Toy Fair, will provide a delightful shopping experience for younger travellers. Specialised souvenir store, “Belgrade Market“ will embody the spirit of the region, celebrating local products and bringing a strong sense of place. Commenting on the new contract, Luis Marin, Regional President and CEO EMEA for Avolta AG said “We are extremely proud to have been awarded this contract in Belgrade and we would like to thank VINCI and the airport team for the continued trust they have shown in us. “As the leading global travel experience player – and now as a combined business – we will use our extensive knowledge and

expertise in this region to take the airport’s shopping experience to an entirely new level, for the over seven million passengers who visit Belgrade Nikola Tesla Airport each year. This contract win is a demonstration of the momentum in our EMEA growth strategy, adding to the continued performance and positive expectations we see across all our geographies as most recently demonstrated in our strong Q3 results – another quarter in which Avolta delivered its targets“.

Avolta will run five fashion boutiques representing brands such as Boss, Ralph Lauren, Michael Kors, Victoria‘s Secret and Avolta’s multibrand store concept Urban Attitude

About Avolta: Avolta AG, (SIX: AVOL) is a leading global travel experience player. With the traveller at its strategic core, Avolta maximises every moment of the traveller’s journey through its combination of travel retail and travel food & beverage, passion for innovation and excellent execution. Avolta’s well-diversified business operates, across geographical, channel and brand portfolio pillars in 75 countries and 1,200 locations, with 5,500 points of sale across three segments – duty-free, food & beverage and convenience – and various channels, including airports, motorways, cruises, ferries, railway, border shops and downtown. An inherent element of Avolta’s business strategy is found in ESG, aiming for sustainable and profitable growth of the company while fostering high standards of environmental stewardship and social equity – making a meaningful impact in the local communities. The company’s access to 2.3 billion passengers each year reinforces the power of its more than 60.000 people, committed to surprising guests and delivering solid execution, supporting the company in creating value for all stakeholders.

cordmagazine.com

Business Dialogue

The banking industry has one of the most dynamic rates of change Dragica Mihajlović

Banca Intesa, Chief Financial Officer at Banca Intesa

LOCAL NEWS

Serbia and CESEC Members Boost Energy Sector Connectivity in Athens At a high-level ministerial meeting of the Central and Southeast European Energy Connectivity (CESEC) group in Athens, Serbia, represented by the Minister of Mining and Energy, Dubravka Đedović Handanović, reaffirmed its commitment to continue enhancing energy sector connections with neighbouring countries. As stated by Đedović Handanović, this commitment is crucial for heightened energy security and further advancement in the energy field. During the CESEC meeting, the Minister highlighted that the energy security of the Western Balkans is intrinsically linked to the energy security of Europe. The emphasis was on better connectivity for increased supply security through energy infrastructure development and transforming the electricity sector, a priority in the energy transition.

IO Partners welcomes Charles Boudet as CEO

Airport City Belgrade to Develop AC Hotel by Marriott

With this appointment, iO Partners wishes to accelerate growth further and contribute to transforming the real estate sector. Charles Boudet, an industry veteran with a diverse background, brings a wealth of experience from inside and outside the Real Estate industry to his role as CEO. Before joining JLL in 2006, Charles served as Supply Chain Director at the global food company Danone. Charles Boudet then had a distinguished 18-year career with JLL. After taking on various leadership roles, Charles became CEO of France, Belux, and South and Central Europe in 2015. Under his leadership, JLL doubled its revenues and transformed how it operates by integrating data and technology at the heart of its services. Charles’s tech-savvy and people orientation aligns perfectly with iO Partners’ vision of leveraging innovation to excel in the consultancy landscape.

AFI Europe Serbia, in an unprecedented collaboration poised to redefine Belgrade’s business landscape, proudly announces a strategic partnership with Marriott International to introduce AC Hotel by Marriott within the esteemed Airport City Belgrade. AFI Europe Serbia has partnered with Marriott International, emphasising its dedication to excellence and demonstrating a commitment to innovation and progress. This collaborative endeavour marks a pivotal moment, reflecting AFI Europe Serbia’s determination to elevate the quality of its projects. Embracing transformative initiatives like Airport City Belgrade, Business Garden, Skyline Belgrade, and the latest addition, AFI City Zmaj, AFI Europe Serbia has not only left an indelible mark on the city’s skyline. Still, it has also positioned Belgrade as a prominent modern European business centre.

february

We expect the gradual stabilisation of inflation to continue with a stable dinar exchange rate Marija Popović

Executive Board Member at OTP Banka

Serbia Takes Helm of CEFTA for 2024 Serbia began its year-long presidency of the Central European Free Trade Agreement (CEFTA) on 1st January. The Serbian Government’s main goals for 2024 include reinforcing and enhancing the enforcement of the agreement, simplifying the trade of goods and services among member countries, and promoting digital advancements. Focused initiatives will include conducting joint customs operations, sharing data, striving for mutual recognition of Authorized Economic Operator programs between CEFTA nations, developing e-commerce, and facilitating the transport of fruits and vegetables. Other priorities are aimed at decreasing the costs and time associated with border trade, recognizing professional qualifications, and completing a new additional protocol for CEFTA that addresses dispute resolution.

EU Delegation Visits Fruška Gora’s Key Projects Emanuele Giaufret, the European Union’s Ambassador to Serbia, led a tour alongside ambassadors from EU member states to examine three EU-financed projects in the Fruška Gora region and announced the EU Delegation. During their visit, the EU member state ambassadors reviewed two cross-border tourism projects involving Serbia, Bosnia and Herzegovina, and Croatia, as well as the Kovačević winery, the statement detailed. “These three projects, with a combined value exceeding two million euros, demonstrate the EU’s robust support for Serbia, as well as direct benefits to its citizens, particularly at the local level. Over the years, the EU has assisted numerous individuals in transforming their dreams into reality by supporting their entrepreneurial ventures. Moreover, the Union has invested in the protection and promotion of Serbia’s rich cultural heritage and tourism potential, aiming to achieve further economic growth and development,” conveyed Ambassador Giaufret.

Judit Albers Appointed as the New CEO of A1 Serbia The management of A1 Group has appointed Judit Albers as the new CEO of A1 Serbia, starting from 1 June 2024. Dejan Turk, who was the head of A1 Serbia for the previous 10 years, continues his career as General Manager of A1 Slovenia and A1 Croatia. Albers has over 25 years of international career in the telecommunication industry and brings much management experience from several countries. She joined A1 Group in 2021 and has led and transformed International Business since then. Judit Albers also actively drove digitalisation and modernisation as well as the anti-fraud development in the International Business and Wholesale area. She was Head of International Business at AzerTelecom in Azerbaijan, where she was responsible for the operator’s international business segment, including voice and data worldwide. cordmagazine.com

Executive MBA Game-Changer Rajka Šinik Vulić Director of Rome Business School Belgrade

After a three-year presence on the Serbian market, Rome Business School Belgrade has gained recognition as a regional hub of expertise and cutting-edge business knowledge. This recognition is attributed to its Executive MBA and Executive Development programmes

ere the school’s director, Mrs Rajka Šinik Vulić, speaks to CorD Magazine about how its Executive MBA can prove to be a game-changer for individuals, by providing a unique combination of advanced business knowledge, leadership development, a broader business perspecti ve and extensive networking opportunities.

exchanges of ideas and experience sharing. Can one exist without the other? — I believe strongly that education and networking go hand in hand. The high-quality education provided by Rome Business School Belgrade is complemented by our commitment to fostering a dynamic business community. By creating an environment that encourages collaboration and exchanges of ideas, we enhance the overall learning experience and contribute to the professional growth of our participants.

Rome Business School Belgrade is recognised for its exceptionally high-quality and innovative Executive MBA programme not only in Serbia, but across the region. What differentiates you on the market and who are your most numerous participants? — Our achievements stem from our commitment to delivering high-quality education through proven and highly experienced professionals from around the world. Additionally, our institution is recognised for fostering a dynamic environment of networking, idea-sharing and support. Our Executive MBA programme has been designed meticulously for professionals who aspire to enhance their business acumen and leadership skills. What sets us apart is our unique programme, which focuses on providing middle managers, senior managers, CEOs and entrepreneurs with a comprehensive understanding of crucial trends and business environments. Upon the successful completion of the Executive MBA programme, students are awarded dual degrees from Rome Business School in Rome and VIU International University of Valencia. It is noteworthy that our Executive MBA programme grants 60 internationally recognised ECTS credits, thus add-

You like to say that an MBA requires a lot of time, money and hard work, but that it contributes significantly to career development and quality of life. Does this mean that choosing an MBA at RBS is the best investment in the future? — Absolutely! I believe strongly that an Executive MBA can be a game-changer for individuals, by providing them with a unique combination of advanced business knowledge, leadership development, a broader business perspective and extensive networking opportunities. This transformative experience can have a significant impact on career trajectories and open doors to new and exciting professional opportunities. It’s wonderful to witness substantial professional and personal growth among our alumni and current students. This positive outcome testifies strongly to the effectiveness and impact of our Executive MBA programme. Ultimately, pursuing an Executive MBA at Rome Business School Belgrade is a strategic investment in the future. While it demands dedication in terms of time and effort, the programme is meticulously designed to provide valuable insights, practical skills and a network that can propel careers to new heights.

february

Upon the successful completion of the Executive MBA programme, students are awarded dual degrees from Rome Business School in Rome and VIU International University of Valencia ing yet more value to the educational experience that we offer.

On one hand, RBS provides high-quality education for business professionals, while on the other hand it strives to be a hub for business networking, meetings,

cordmagazine.com

Business Dialogue

Within the framework of the Open Balkan, the recognition of certificates for measuring freight vehicles will begin to be implemented between North Macedonia and Serbia Stefan Bogoev

Director of the Customs Administration of N.Macedonia

REGIONAL NEWS

Croatian JANAF and Serbian NIS Ink Record Oil Transport Deal for 2024-2026 In a landmark agreement, Naftna industrija Srbije (NIS), a major Serbian oil company, and Adriatic Pipeline (JANAF), a leading Croatian firm, have finalised a contract for the transportation of approximately 10 million tonnes of oil. This deal, with a flexibility of plus or minus ten per cent, is set to extend until the end of December 2026, per the announcement on the Croatian pipeline’s website. The collaboration marks a significant milestone, reflecting JANAF’s pivotal role in Croatia’s energy sector and across the broader regional landscape. This agreement is seen as a strategic move, ushering in what is expected to be a highly successful business year for both companies. It underscores their commitment to ensuring consistent energy supply and highlights their integral roles in the European energy market. The deal has been well-received, signalling positive outcomes for shareholders and employees of both NIS and JANAF.

Podravka Unveils New Brand Identity Croatian conglomerate Podravka has revealed a major rebranding, introducing a distinct separation between its corporate and product logos for the first time. This move is part of an overarching strategy to modernise the visual identity of Podravka Group, aiming to bolster its domestic and international business goals. The company’s ambitious objectives include maintaining its leadership in local and regional markets and expanding its presence across Central and Western Europe and globally. The redesign is expected to streamline communication with consumers and stakeholders. At the heart of the new branding is a red-coloured heart symbol, a nod to Podravka’s enduring values and traditions. This symbol has been a consistent element in the company’s identity over its 75-year history.

Dr. Jasmina Selimovic Named First Female Governor of BiH Central Bank Dr Jasmina Selimovic has been appointed the Governor of the Central Bank of Bosnia and Herzegovina (CBBiH), marking a historic moment as the first woman to hold this position in the nation’s modern history. Her term, set for six years, was confirmed by the bank’s Administrative Council. Reflecting on her groundbreaking appointment, Governor Selimovic voiced her pride and acknowledged the significant responsibilities of her new role. In her new role, Governor Selimovic aims to prioritise the currency board’s stability and the institution’s overall stability. Enhancing the operational efficiency of the CBBiH is also among her primary objectives. Dr. Selimovic steps into this role following Dr. Senad Softic. Her academic credentials include a doctorate in economic sciences, and she has been a prominent faculty member at the Sarajevo Faculty of Economics since 2004, focusing on Finance and Quantitative Economics.

february

“The growth rate of the SEE region this year is close to its potential, while in the Western Europe region it is 0.5% below the potential level” Dan Bucsa

Chief Economist of UniCredit for the CEE SOURCE: connectingregion.com

Air Montenegro’s BoD Unanimously Elects Tihomir Dragaš as Chairman Air Montenegro has announced the unanimous election of Tihomir Dragaš as the chairman of its Board of Directors during their inaugural meeting. The session was attended by the Minister of Transport and Maritime Affairs, Filip Radulović, along with board members and company management. Minister Radulović expressed satisfaction with the personal and professional composition of the new Board, believing that the members will significantly contribute to the company’s development and branding of Montenegro as a destination with great potential. “The government’s expectation, as well as my own, is for you to dedicate your professional capacities to the service of Air Montenegro, its citizens, tourists, and the entire economy,” stated Radulović.

EE Korita to Construct 240 MW Solar Plant in Bijelo Polje with €200M Investment EE Korita, a company based in Bijelo Polje, is set to build a 240 MW solar power plant, representing an investment of around 200 million euros. This project moved a step closer to fruition following the signing of a contract between representatives of the Bijelo Polje company and the Montenegrin Electricity Transmission System (CGES) for the construction of infrastructure necessary for connecting the SE Korita to the transmission system, as reported by Poslovni Dnevnik. The collaboration, formalised by Ivan Asanović, Executive Director of CGES, and Damir Banovec on behalf of the Bijelo Polje company, signifies a stride forward in enhancing our capacities for renewable energy production,” the announcement stated.

Serbia, Slovenia, Hungary to Launch Joint Electricity Exchange in 2024 A groundbreaking collaboration between Hungary, Serbia, and Slovenia is set to establish a joint regional electricity exchange in 2024. This initiative marks a significant advancement in the energy sector of Central-Eastern Europe and the North Balkans. The Hungarian Power Exchange (HUPX), operational since 2010 and a leading regional electricity exchange, is at the forefront of this development. Encompassing 60–70 per cent of Hungary’s domestic consumption, HUPX Ltd., a subsidiary of MAVIR, the Hungarian transmission system operator, has become integral to the region’s electricity trading. Since 2010, Hungary has significantly developed its cross-border energy connections, including an agreement with Slovenia in the summer of 2023 to construct the last missing natural gas interconnectors, further strengthening its energy network. cordmagazine.com

FEATURE

Is the Outlook for the Global Economy Still Bullish? With the latest monthly inflation data in the eurozone, the United Kingdom, and the United States coming in higher than expected, markets are nervous and analysts are considering whether, and how, to revise their forecasts. But, despite much uncertainty, the evidence still supports cautious optimism

here are many risks, which is why the forecasting community is hedging its projections with sensible caveats about various “known unknowns.” Chief among these are the ongoing conflicts in the Middle East and Ukraine, the uncertainty about China, and looming elections in Europe, the United States, and elsewhere. With respect to inflation, recent reports shows that many underlying indicators appeared to be moving in a promising direction. Since then, however, the latest monthly inflation data (for December) in the eurozone, the United Kingdom, and the US have surprised on the upside. That has given pause to many policymakers, in-

february

vestors, and analysts after weeks of markets pricing in large interest-rate cuts this year. Finally, it would be a pleasant surprise if wage gains in many countries persisted, despite the improving inflation outlook, without contributing to a fresh, more sustained rise in prices. Of course, most economists and central bankers would put little store in this scenario unless there was clear evidence of a much-needed uptick in productivity across the Western world (and beyond). Without additional productivity, they would warn, real (inflation- adjusted) wage gains cannot be sustained without becoming inflationary. After all, productivity data arrive with a lag, so it would be quite risky

for central bankers to react too strongly to continued wage gains, such as by declaring that they will maintain a more restrictive monetary policy than they otherwise would have done. Specifically, there are three good reasons to adopt a wait-and-see posture. First, although forecasters failed to anticipate the persistent weakness in productivity over the past two decades, it is only recently that they seem to have given up signaling an expectation that it will start to recover. Second, there are obvious reasons for thinking that productivity will eventually improve, even if most have given up hope. Just look at the big developments in artificial intelligence, the shift to alternative energies, the change

in working patterns since the start of the pandemic, and policymakers’ renewed focus on initiatives explicitly designed to boost productivity. True, the data have yet to show that these developments are bearing fruit; but, again, the gains from new technologies often take time to work their way through the economy – and into official statistics. The third reason to hold off on monetary tightening concerns the social and human aspects of the wages and productivity issue. As we know from debates about the sources of growing anxiety and economic insecurity across many democracies, median real wages have performed poorly in recent decades. This trend

has clearly played a big role in the public’s growing disillusionment with “capitalism” and “globalization,” and in the rising support for more radical and populist political parties and movements. It follows that an increase in real wages would help to moderate political attitudes. Repressing wages simply because of a

It would be a pleasant surprise if wage gains in many countries persisted, despite the improving inflation outlook, without contributing to a fresh, more sustained rise in prices

belief that they are unjustified would be dangerous. Will the improvement in inflation be sustained? Though the December inflation figures came in higher than expected, the preceding months had shown sharper-than-expected declines. If one examines the smoother underlying measures of trend inflation, as well as surveys of inflation expectations, the outlook remains quite promising. As for the other cyclical factors, three things stand out as we approach the end of January. First, Chinese economic data and financial-market performance remain generally disappointing despite stronger efforts by the authorities to support a robust recovery. Second, in the US, most (though not all) economic indicators continue to come in stronger than expected. That is a relief, even if it isn’t alleviating the uncertainty among many commentators who worry that the recent positive trends may not be sustainable. Markets, too, have had a jittery start to the year. According to the so-called five-day rule (whereby a net gain for the S&P 500 in the first five trading days of January bodes well for the next 12 months), there is only a 50% chance that this will be a positive year for stocks. Yes, this is far from a scientific truth. But, as I have noted previously, a positive start has predicted a positive year more than 85% of the time, going back decades. Lastly, despite the worrying issues in the Middle East and Ukraine, commodity-price volatility has remained remarkably subdued. Perhaps there are some odd technical supply-demand factors that account for this. But whatever the case, the relative stability is discernible across many markets. Most key commodities, as well as the recognized major commodity indices, are down compared to a year ago. That, too, is slightly reassuring. By Jim O’Neill, former chairman of Goldman Sachs Asset Management, former UK treasury minister, member of the Pan-European Commission on Health and Sustainable Development.

cordmagazine.com

Business Dialogue

“ChatGPT and DALL-E are channels into our one single product, which is intelligence, magic intelligence in the sky” Sam Altman

CEO of ChatGPT

WORLD NEWS

Microsoft Surpasses Apple as World’s Most Valuable Company Microsoft has dethroned Apple as the world’s most valuable company, a title it hadn’t held since 2021. Apple’s shares struggled at the start of the year due to concerns about diminishing demand. Microsoft’s stock has surged thanks to its investment in generative artificial intelligence with OpenAI, the creator of ChatGPT. Integrating OpenAI’s tech into Microsoft’s productivity software revitalised its cloud-computing business. Meanwhile, Apple faced declining demand, notably for the iPhone, its main revenue source. In China, a key market, demand remained weak as the country’s recovery from the pandemic lagged, and rivals like Huawei chipped away at Apple’s market share.

Honda To Release a New Electric Vehicle In 2026 Honda has announced the launch of its new global electric vehicle series, named “Honda Zero,” as a response to the trend of bulky and heavy electric vehicles currently dominating the market. The first model in this series, based on the stylish sedan concept named the “Saloon,” is scheduled to debut in North America in 2026. In addition to the Saloon, Honda has introduced a more boxy and van-like concept called the “Space-Hub.” They are built on a “thin” vehicle architecture with a low floor, emphasising aerodynamics as a key design element. The development of the Honda Zero EV series is guided by three principles: “thin,” “light,” and “wise.” With the Honda Zero series, the company aims to offer consumers a sleek and lightweight alternative to the bulkier electric vehicles currently on the market.

Chinese Startup Unveils Revolutionary 50-Year Nuclear Battery Beijing-based startup Betavolt has unveiled a groundbreaking nuclear battery, claimed to be the first of its kind globally, with the potential to generate electricity for an astonishing 50 years. Currently in its pilot testing phase, this innovation is expected to eventually move into mass production, targeting devices like smartphones and drones. Betavolt’s nuclear battery is designed to fulfil long-term power needs across various scenarios. It finds potential applications in aviation, AI technology, medical equipment, microprocessors, advanced sensors, small drones, and microrobots, as per the company’s announcement. Betavolt’s inaugural nuclear battery, remarkably compact at 15x15x5 cubic millimetres, delivers 100 microwatts of power at 3 volts. The company aims to scale this up to 1 watt by 2025.

february

“I think a global regulatory approach to AI is very desirable” Satya Nadella CEO of Microsoft

EU Approves Volvo-Renault Merger for EV Market The European Commission has approved the formation of a joint venture between Swedish automaker Volvo and French giant Renault. This strategic move aims to strengthen its position in the electric vehicle market. According to the European Commission, the proposed merger is set to have a limited market position and will not impede competition. In this 50-50 joint venture, Volvo and Renault will collaborate on developing, producing, and selling commercial electric vehicles. Furthermore, the partnership will focus on creating software and logistic services. Initially targeting the European market, the companies plan to expand their offerings globally, as per the documentation from the European Commission.

Norway Set to Pioneer Deep Sea Mining in the Arctic Norway is poised to become the world’s first country to embark on deep-sea mining, following the Norwegian Parliament’s approval for mineral exploration in Arctic waters. This landmark decision opens up approximately 108,000 square miles of the Arctic seabed for exploration, an area larger than the United Kingdom, located between Norway and Greenland. The exploration process will mirror Norway’s approach to oil and gas, with specifics like taxation to be discussed at a later stage. This initiative marks a significant move towards commercial deep-sea excavation. The deep seabed, one of the last untouched habitats on Earth, is rich in resources vital for the green economy. These include copper, cobalt, zinc, and gold, essential for everything from wind turbines to batteries for electric vehicles.

EU Companies Lose €16 Billion Annually to Counterfeits European manufacturers in the clothing, cosmetics, and toy industries are losing approximately €16 billion in revenue annually due to counterfeit goods and illegal copies, according to a report by the European Union Intellectual Property Office (EUIPO). This loss in revenue has also led to the closure of around 200,000 jobs. Significant losses are reported in the German toy industry, accounting for a third of the total revenue lost, as per the DPA agency. The clothing sector faces nearly €12 billion in lost revenue annually, which is about 5.2% of its total turnover. Cosmetics and toy manufacturers also report substantial losses due to counterfeits and copies. The cosmetics industry has seen a revenue reduction of €3 billion, a 4.8% drop, while the toy industry has lost €1 billion in revenue, decreasing by 8.7%. cordmagazine.com

ENTREPRENEUR

Man Behing a Tech Titan’s Revival

The

Satya Nadella

Under Satya Nadella’s visionary leadership, Microsoft transcended its past struggles, embracing innovation and strategic partnerships. Nadella’s focus on Azure and AI with OpenAI repositioned Microsoft as a dominant force in the tech world 52

february

Photo: Brian Smale/Microsoft

CEO of Microsoft

Photo: twitter @satyanadella

atya Nadella’s tenure as CEO of Microsoft marks a remarkable chapter in the annals of the tech industry. His leadership heralded a renaissance for a company once perceived as a laggard in the fast-evolving technology landscape. Before Nadella’s ascension in February 2014, Microsoft, a pioneer in personal computing with operating systems like DOS and Windows, had stumbled, particularly during the mobile revolution initiated by Apple’s iPhone. In the early 21st century, Microsoft often found itself relegated to the side-

Satya Nadella with Microsoft interns

novation and underwhelming stock market performance. However, the narrative shifted dramatically with Nadella at the helm. Embracing a philosophical and strategic overhaul, he steered Microsoft away from its erstwhile confrontational stance towards Apple, allowing the integration of Microsoft Office products on Apple devices. This move signified a broader shift in the company’s approach, embracing collaboration over confrontation.

One of Nadella’s most significant decisions was to invest heavily in Microsoft Azure, the company’s cloud infrastructure business. Azure blossomed under his guidance, becoming the company’s most lucrative division and securing its position as the second-largest cloud infrastructure business, trailing only Amazon Web Services. Notably, Azure’s growth trajectory has outpaced its larger competitor, reflecting Nadella’s foresight and strategic acumen.

Photo: Brian Smale/Microsoft

Before Nadella’s ascension, Microsoft had stumbled, particularly during the mobile revolution initiated by Apple’s iPhone lines, struggling to match the innovative strides of competitors. Despite its continued profitability, rooted in its personal computing and enterprise software ecosystem, the company was frequently critiqued for its lack of in-

cordmagazine.com

Under Nadella’s leadership, Microsoft has made several key acquisitions, including LinkedIn, GitHub, and Activision Blizzard. These strategic moves have diversified Microsoft’s portfolio, strengthening its position in areas like advertising and open-source code development. However, perhaps Nadella’s most notable achievement is the partnership forged with OpenAI, in which Microsoft now owns a near 50% stake. This alliance has positioned Microsoft at the forefront of generative artificial intelligence (AI), with OpenAI’s technology integrated into various Microsoft

products such as Azure, Office software suite, Bing search, and others. The impact of these strategic decisions is evident in Microsoft’s financial performance. Since Nadella took the reins, Microsoft’s stock has surged by 934%, significantly outpacing the S&P 500. This remarkable growth is a testament to Nadella’s vision and leadership, propelling Microsoft back to the zenith of the tech world. In 2023, Microsoft’s resurgence under Nadella’s guidance has been unmistakable, firmly establishing the company as a dominant force in the technology sector once again. In summary, Satya Nadella’s leadership at Microsoft represents a masterclass in corporate turnaround. By embracing innovation, strategic acquisitions, and partnerships, he has not only revitalized a tech giant but also reshaped the industry landscape, redefining what is possible for a legacy technology company in the modern era.

february

Photo: Brian Smale/Microsoft

One of Nadella’s most significant decisions was to invest heavily in Microsoft Azure, the company’s cloud infrastructure business

COMMUNICATIONS SPECIAL EDITION 2024

CONTENT 58 Trust: The Ultimate Question Nataša Pavlović Bujas

President of the International Public Relations Association (IPRA)

61 Two-way Communication Develops Trust Jelena Gavrilović Šarenac

66 The impact of AI on Marketing Communications Danka Trbojević

Managing Director, DRV

Corporate Communications at Henkel Serbia and Henkel Adria

62 Clients Seek Clear Messages Aleksandra Džaferović

Corporate Communications Manager, Eurobank Direktna

67 Listen, Hear, Formulate & Adjust, then Speak Nevena Kurtović

Managing Director, Fusion Communications

63 Communication Requires Originality Marina Grihović

Founder and Director of PR and Media Consulting Agency Headline and Digital Communications Agency DKIT

64 Long-Term Brand Narratives Yield Results Katarina Pribićević McCann

65 Facing challenges by creating more value Branislava Cagronov

UM Regional Managing Director

COMMUNICATIONS 2024

COMMUNICATIONS 2024 70 Over Seven Hills Alek Garčević

CEO of Sedam Brda

68 A Good PR Story Resounds a Long Way, Right?

72 Striving for continuous growth

RIGHT

Tamara Bekčić

Milena Avramović Bjelica

Chapter 4 Co-founder & Executive Director Chapter 4 Co-founder & Managing Director

74 Every Project is a New Story Marina Bolanča

CEO of Abeceda Communications

75 Open Approach to Creative Work Andrea Ivančević

Founder & Chief Creative Officer, Rocket Flow

76 Navigating the Dynamic Landscape of 2024 Communication Trends

cordmagazine.com

INTERVIEW

TRUST: THE ULTIMATE QUESTION Neither companies nor individuals and institutions will be able to remain silent any longer when it comes to social events, especially in this historically unique year of elections, with over 4.5 billion people in more than 60 countries set to decide the future of their communities in 2024

NATAŠA PAVLOVIĆ BUJAS President of the International Public Relations Association (IPRA)

esearch indicates that communications professionals are now more equal members of top management than ever before, but also represent pillars in many strategic decisions. That’s why our conversation with Blumen Group Director Nataša Pavlović Bujas, who has amassed decades of experience in the field of communications and was recently elected global president of the International Public Re-

lations Association (IPRA) for 2024, focuses on questions that aren’t only important for companies and professionals in this field, but also for citizens who – in an overabundance of information – are increasingly losing trust in what is written or spoken and seeking guidance. What do people want to hear today, and from whom? — The communication scene in this and the coming year, or even in sub-

sequent years, is indeed fascinating. On the one hand, we have the intensifying use of artificial intelligence, which arrived earlier than expected and predicted. On the other hand, there ias growing concern about the decline in trust and the increase in content offering unreliable, false, and/or entirely fabricated information. Artificial intelligence certainly streamlines many phases and processes in communications, saving resources – in terms

COMMUNICATIONS 2024

of time and people – and opening up space for communication and professional communicators to be elevated to a higher level. To address the PURPOSE – the essence of our profession and everything we communicate. Back to basics – to return to our roots and take responsibility for our own impact – to inspire real change and progress with what we communicate, to unite the public (any) around common goals and values. What people want today from companies, institutions and individuals is the transparent communicating of views on significant social issues, activities, activism for community advancement, reliability and consistency. Which communication channels do audiences prefer and most

and to whom and how to address messages. The same thing happened with traditional mass communication channels – radio, TV, print newspapers. Nothing disappeared completely, but everything evolved. It is clear that social media platforms will also evolve, rapidly and intensively, under the influence of AI. The question of trust is particularly relevant. According to the 2024 Edelman Trust Barometer, a reputable and traditional annual survey, the question of TRUST will be the question of all questions this year. It seems that the public trusts the media the least, followed by governments and politicians. People most trust those they see as being similar to themselves, which is why social media platforms remain highly important for communica-

because the goal is no longer just to reach users and prompt a reaction/engagement, but to keep them engaged for as long as possible with the created content and the message we convey. We know that video will remain a favourite communication tool, and we will even see longer video content on TikTok – of up to 15 minutes. Discussions and public communication are increasingly shifting to Instagram Threads, which, in just six months, has reached 100 million monthly users and is continuing to grow. LinkedIn continues to surprise – as a unique network based on organic content reach, which has gathered more than a billion users to date. It is also important to know that data, data, data – whether that relates to personal data protection or analytics – remains an essential topic for education and understanding the digital domain and communication in general.

THE INTERNET AND SOCIAL MEDIA HAVE ALLOWED LOCAL BRANDS TO SURVIVE WITH SMALLER BUDGETS, Will the use of AI help or hinder AND DIRECT COMMUNICATION WITH CUSTOMERS our creativity? HAS BECOME KEY TO THEIR DEVELOPMENT — Over the 30 years of my profestrust today? Are traditional social media platforms like Facebook and X truly a “deserted land” now? — Again, the specificity and complexity of the times in which we live and work: on the one hand, we have a large and even excessive number of communication channels and tools, software, and algorithms that change and develop extremely rapidly. On the other hand, we have several generations of users that differ completely in terms of their habits, behaviour, values and beliefs, and that are quite digitally illiterate. Optimising communication towards target groups that are so different has been a significant challenge for some time already. I don’t think traditional social media is entirely “deserted”, but I think there is a clearer profile of what each network is used for, how to use it intelligently, cordmagazine.com

tion, along with those sources that convey scientifically confirmed information and/or information from verified experts. Therefore, alongside trust, another key word will be REPUTATION. What are today’s key trends in digital and video marketing? — I avoid making such assessments and predictions, because previous research indicated that artificial intelligence (such as ChatGPT) would only enter into use from 2027, with applications like Midjourney becoming relevant from 2030, and yet we are already witnessing the intense use and impact they are creating! We made mistakes in our predictions. Nevertheless, some trends are already being recognised. The significance of genuinely high-quality and unique content is growing,

sional career to date, both in management and communications, we’ve been cautioned about various things: the internet was the first threat, then websites and emails, followed by mobile phones, Google knowing everything about us, and then social media. It was on these platforms that intimidation reached its peak and was most intense until this most recent one: intimidation by artificial intelligence. The only thing that can threaten us is ourselves – giving up on learning, adopting, improving, adapting and insisting on resisting change. Although the term “artificial intelligence” contains the word intelligence, it is actually software, algorithms and tools that will help us if we learn how to use them. It’s true that it’s advancing rapidly, some even say it’s self-improving, but the human brain is an incredible device and I believe in its potential to be inspired and stimulated

RESPONSIBILITY As uncertainty in the environment grows, so do the expectations of the public, and with that our professional responsibility

CHANGES The only thing that can threaten us is ourselves – giving up on learning, adopting, improving, adapting and insisting on resisting change

MEASURE Computers have replaced typewriters, mobile phones are gradually replacing computers, evolution is more revolutionary today than it has ever been in history, but the measure of everything is still determined by humans

by the use of AI. I read something somewhere that I’ll paraphrase here because it illustrates the current situation well: “Artificial intelligence won’t replace you; that will be done by the person who knows how to use it.” Is there room today for local authenticity, or are we all global citizens for global brands?

nicate directly with users – which is crucial for their development. Local brands are often family-owned businesses, which is additionally important because it’s precisely that kind of entrepreneurial spirit that drives development and innovation. Local brands also care about the welfare of the community and the development of the environment in which they operate,

company decisions and then in implementing them in the communication plan. That’s not by chance: PR experts are primarily familiar with people’s behaviour and needs, then the specifics of communication channels, marketing strategies and management, but they are also excellent analysts and are knowledgeable about data and the use/ interpretation of data.

THE PUBLIC HAS THE LEAST TRUST IN THE MEDIA, FOLLOWED BY GOVERNMENTS AND POLITICIANS. PEOPLE TRUST THEIR PEERS THE MOST, MAKING SOCIAL MEDIA PLATFORMS A KEY COMMUNICATION CHANNEL THE PUBLIC WANTS TRANSPARENCY, ACTIVISM AND CONSISTENCY FROM COMPANIES, INSTITUTIONS AND INDIVIDUALS

— Today, more than ever, there is room for local authenticity, and I would even say it’s on the rise in terms of the attention it receives in the public eye and its increasing value. Even in these regions, we are learning and slowly realising how important each authenticity is – even though it can be costly. Or more affordable. We are indeed global citizens, and global brands will always exist, but they have been localising in recent years – if not their products, then at least their communication, considering the specificities of the local environment. With the development of the internet and social media, local brands have received an opportunity to exist on the market with much smaller marketing budgets than was the case, for example, two decades ago, and to commu-

and I would personally love to see much greater support from both the media and the government when it comes to the development of local brands and family businesses. What should today’s PR and digital marketing look like, to ensure we don’t perceive them as being intrusive? — It’s important for me to emphasise: if PR is intrusive, then it’s not PR, but the unskilled use of some marketing tools. PR today requires multidisciplinary expertise– it’s called a 360-degree profession. And it truly is! Communication experts have long been more than just spokespeople, mainly responsible for media relations, having become experts trained in multiple fields who, as members of management, participate first in making strategic

So, intrusive PR is bad PR, but it exists and will continue to exist. The situation with the intrusiveness of digital marketing is slightly different – on the one hand, it’s necessary to be skilled to resist the capabilities of algorithms and/ or budgets to make your messages always visible, everywhere and to everyone. On the other hand, that’s certainly not what you do if you understand the harm it causes to a brand’s reputation. And not just reputation. So, digital marketing or digital communications that are not guided by strategic communication ultimately do more harm than good over the long run. And yes, you’re right, people perceive them as intrusive, unempathetic, even arrogant, and sometimes even aggressive.

COMMUNICATIONS 2024

CORPORATE

TWO-WAY COMMUNICATION DEVELOPS TRUST As a global company that’s aware of the value of its brands, Henkel is open to communicating with consumers and partners, while it strives to monitor and adapt to new trends peaking in this CorD Magazine interview, Henkel’s Jelena Gavrilović Šarenac, who has amassed vast experience in corporate communications, reveals why the high speed at which information is now transmitted is meaningless without high-quality content, and how traditional media forms persist despite the dominance of online media, as reflected in the importance of synergising strategic consulting, PR work and integrated communications.

You have spent more than a decade and a half dealing with corporate communications at Henkel. How much have the rules, tools, media scene, communication channels and other aspects changed during that time? — The dynamic times in which we live bring changes to our lives on a daily basis, both privately and professionally. As such, I have to admit that a lot has changed since I first launched my career at Henkel. I come from the generation that used to use fax machines to send press releases, while today everything in the field of communications unfolds in real time, and that is what defines all obligations and requirements, professional engagements and public expectations. Specifically, the speed at which information is transmitted has become crucial to timely informing, both internally and externally, while news is written in short formats and the attention of the audience is measured in seconds, and all of these changes to our habits aren’t necessarcordmagazine.com

ily reflected in improved quality, and maybe even the opposite is the case. As a global company, we are open to communicating with both consumers and partners, while we strive to monitor and adapt to new trends in communication. When it comes to the media specifically, noticeable changes are also evident there, and although online sources dominate, the significance of traditional media channels can’t be underestimated. You devote special attention to synergising strategic consulting, PR work and integrated communications. Could you give us an illustrative example of this? — Strategic communication is crucial to the successful operations of all companies, and synergising strategic consulting, PR work and integrated communications is essential to harmonising all messages, activities and channels of communication, and adjusting them to suit target groups. This is particularly important because of the need to harmonise topics and priorities with other sectors, due to the long-term planning of all activities. Each form of communication has its own role to play and leads us to our shared goal, which is satisfying the expectations of our partners, consumers and the community in which we operate. The expansion of social media sites and electronic and digital media strengthens the significance of communication activities and their importance when it comes to preserving a compa-

ny’s reputation. Does that facilitate or hinder your work? — Maintaining a presence on digital communication channels is extremely important, especially when it comes to our brands and communicating the innovations they bring. Generally speaking, digital media enable us to take a more creative approach to communication, but also enable more direct communication with our consumers, which we really care about. Henkel, as our umbrella brand, and the portfolio of brands of our business sectors are jointly responsible for maintaining our company’s reputation. We all work together to nurture and communicate the same values, both at the level of the company brand and at the level of activities on individual brands. We always place the consumer at the centre of our activities, actively conduct sustainable operations and care for the environment. The transparent, two-way communication that’s enabled by social media certainly contributes to nurturing and building trust.

JELENA GAVRILOVIĆ ŠARENAC Head of Corporate Communications at Henkel Serbia and Henkel Adria

CORPORATE

CLIENTS SEEK CLEAR MESSAGES Eurobank Direktna is among the Serbian market’s leading financial institutions, representing a significant contributor to the stability of the domestic financial system, a reliable partner, and a secure choice for many clients. The bank’s team has a strong sense of responsibility for the community in which they operate

ALEKSANDRA DŽAFEROVIĆ Corporate Communications Manager, Eurobank Direktna

n this interview with Aleksandra Džaferović, Corporate Communications Manager, we explored why companies are today increasingly relying on their communications teams. We also delved into the reasons why continuous improvement, innovation in communication channels and socially responsible business practices are essential to Eurobank Direktna.

In order to stay at the top, companies must invest in promoting their services and introducing innovations into their operations. Does this also hold true for banks? — Promoting products and services, as well as introducing operational innovations, are key if you want to remain competitive on the market. The ability to adapt and respond quickly, stand out from the competition and capture attention is crucial to shaping successful operations. Strategic planning is the first step in this process, and how we distinguish ourselves among the competition, and which tools we use to attract new clients, depends on our creativity. Staying in tune with market trends and demands, employing a unique approach to present products and services to clients, as well as delivering well-placed messages, are essential to achieving success.

It was six years ago that Eurobank Direktna launched the “School Designed for You” project, demonstrating that success isn’t measured solely on the basis of financial indicators, but also on the basis of opportunities for future generations to develop. — Socially responsible business practices are an integral part of Eurobank Direktna’s strategy and a crucial segment of all business activities. The “School Designed for You” project was initiated in 2018, with the support of the Ministry of Education and the aim of equipping and modernising classrooms in secondary economic schools across Serbia. Equipment has been so far provided for 15 classrooms, highlighting the importance of improving the quality of education.

THE “SCHOOL DESIGNED FOR YOU” PROJECT WAS INITIATED IN 2018, WITH THE SUPPORT OF THE MINISTRY OF EDUCATION AND THE AIM OF EQUIPPING AND MODERNISING CLASSROOMS IN SECONDARY ECONOMIC SCHOOLS

Considering that Eurobank Direktna recognises the impact of culture on the education and development of young people, and that it aims to provide students with access to content and exhibitions that are not available in their cities, an educational programme called the Travelling Museum was launched in collaboration with Belgrade’s House of Jevrem Grujić Museum. Within the scope of this project, students have an opportunity to learn about Serbian history, culture and artistic skills through guided curator and interactive lectures. Additionally, in cooperation with publishing house Laguna, students from these schools are offered discounts on book purchases at Laguna bookshops. How important is communication to achieving goals today? — Communication has become an integral part of business, and it is of paramount importance today. Individual channels and various communication models have gradually evolved into form integrated communication. Users now receive information from different sources and platforms, making planning and coordination a common part of modern communication. Managing communications at all levels and communicating effectively are key to achieving goals. In today’s world of fast-paced information sharing, the path to seizing new opportunities lies in clear, precise and timely communication.

COMMUNICATIONS 2024

CORPORATE

COMMUNICATION REQUIRES ORIGINALITY Headline & Dkit agency has been present on the domestic communications market for 16 years, and over that time we have built genuinely friendly relationships with clients, treating them equally, regardless of whether they are multinational corporations or small local companies

MARINA GRIHOVIĆ Founder and Director of PR and Media Consulting Agency Headline and Digital Communications Agency DKIT

espite the abundance and diversity of communication channels, it has never been harder to capture the public’s attention, let alone retain it. However, experienced professionals in this industry are turning these challenges into opportunities.

When working to improve and expand services, as your agency does, challenges are viewed as opportunities. Is there no fear of the future? — There is always fear of what the future holds, not only in the world of communications, but in every aspect, especially in private business. That’s because the future isn’t determined solely by quality, but also by numerous external influences. I’ve been reading lately that the business leaders are more afraid of the spread of false information through AI than wars. But no fear should ever overshadow the fundamental principles of fair and professional relations with clients and partners. Quality is what we guarantee, and it primarily comes from the people in our team – and I can sincerely express my gratitude to them for greatly reducing that fear of the future. Is it enough in your profession today to be fast, creative and original...? — There is too much information on the market, too many brands vying for cordmagazine.com

attention, and the human brain is not yet accustomed to processing such a large number of news items... But we are practicing and becoming faster, together with the technology. And that’s especially so among the younger generations, who are finding their own models, algorithms for recognition, and attracting attention. I think this is currently the biggest challenge in our business - getting people interested and encouraging them to create a broader picture regarding certain issues or products. From my experience, speed is not crucial in communications; what matters most is the content and the message we create. Because everyone is fast now, but only originals reach their target audience. Despite the downfall of traditional media, including outdoor advertising, having been predicted a few years ago, they are still going strong. How do you explain that? — Media and their subgroups will exist as long as there are target audiences to address. Everything has its audience. You can’t force my generation to only get informed through TikTok, for example, just as you can’t expect today’s teenagers to read a newspaper. Print media has a tradition, but, more importantly, it has its own target group, and it will continue to exist as long as it provides content that interests them. In this case, the form is not important; what matters is the content, because if you’re interested in something, nothing will stop you from seeking it out.

Do you think the increasing use of artificial intelligence will prompt a growing need for authentic messages and a more humancentric approach to clients and brands, or are you more inclined to believe that AI will dominate communication? — I honestly don’t know what the future holds for AI and our relationship with it... I can only assume that it will make certain processes easier and faster, but without people – without their knowledge and the information they provide – AI does not exist. What I am genuinely concerned about are unverified pieces of information that could be disseminated... But there was propaganda even before Gutenberg invented the printing press, so once we overcome the initial fear, once we discover the first mistakes and misinformation being spread through artificial intelligence, it will be easier for everyone. That’s when we’ll begin to use it as a good friend and assistant.

CORPORATE

LONG-TERM BRAND NARRATIVES YIELD RESULTS McCann takes pride in its longstanding partnerships with some of the biggest brands, some of which have lasted more than 15 years. In such relationships, it is only natural to celebrate collective successes achieved through the creation of products, services and culture

KATARINA PRIBIĆEVIĆ McCann kets regional and global brands through a single point of contact. n an age in which collaborations between corporations and marketing agencies might find themselves depreciated or taken for granted, the remedy – as underscored by McCann Belgrade Managing Director Katarina Pribićević – lies in the synergy between both sides.

One of the global trends is to return to “one-stop-shop” services. Does that require agencies to have experts in every area of communication? — Marketing is never just a single attempt. A results-driven marketing strategy encompasses a series of different attempts, connections and efforts. One such connection yields short-term results, while multiple connections result in long-term ones. The return to “onestop shop” agencies is no coincidence, as they do not only provide diversity of expertise and ideas, but also ensure that business objectives are translated into action and results, increasing efficiency through a “single point of contact”! We, at McCann, can be proud of successful collaborations that follow this model. Not only when it comes to different expertise, but coordinating different mar-

McCann collaborates closely with its clients on the creation of products and services. Does this collaboration between marketing and business result in the formation of robust brands? — Apart from being experts in brand storytelling, marketing agencies should also focus on generating business success. However, this is only possible in a symbiotic relationship with businesses. It seems that, today, partnerships between a company and a marketing agency are somewhat marginalized or taken for granted. And this is bad news both parties. Because this type of partnership is no different from a partnership between two individuals. Built on trust and clear expectations, supported by collaboration and effective communication, agency-company partnerships require the same nurturing as any other human relationship. When

AT MCCANN, IDEAS ARE THE PRODUCT OF THINKING ABOUT THE PEOPLE WITH WHOM A BRAND COEXISTS

organizations approach agency partnerships as if fostering lasting human relationships, they will feel more secure and achieve better results. Partnerships between agencies and companies should be based on transparency and integrity; on trust. But trust is a two-way street that requires openness and honesty in a relationship. Only then are we on the right track to creating compelling and enduring brand narratives that yield results. Your way of doing business blurs the lines between media and creativity, data and content, and science and art. Is this the future of your industry? — At McCann, an idea is never a goal to itself. Ideas are products of thinking about the people with whom a brand coexists. When it becomes a part of life, brand inevitably achieves business success. Only then, it has the potential to create its own ecosystems in which science, art, education and creativity all play roles, intertwine and help make brands hospitable, appealing, tolerant and inviting. Just think about the role “Rosa voda” played in family lives or the change Mastercard initiated through the Superhero brand for the NURDOR initiative. These are just a couple of examples that demonstrate the power of synergy between brand and strong storytelling. This is the path brands take when creating culture and, consequently, become a part of life.

COMMUNICATIONS 2024

CORPORATE

FACING CHALLENGES BY CREATING MORE VALUE One of the biggest challenges of 2024 will be more complex media planning and buying, which come as a result of global challenges like economic changes, data privacy, a digital ecosystem that’s constantly changing, including the development of AI, as well as continued changes in consumer behaviour that are being encouraged by changes in all other spheres

BRANISLAVA CAGRONOV UM Regional Managing Director conomic instability has always had a negative impact on client investments and the media market’s overall value. From today’s perspective, slight growth of the media market is forecast, primarily determined by media inflation. It is more realistic to view the aforementioned growth as a recovery that is still ongoing than to perceive it as an expansion of advertising in the region. When it comes to consumers, we can clearly expect it to be increasingly challenging to approach them in the right way that will ensure they respond to advertising messaging. Consumers are becoming even more price sensitive, with less brand loyalty and an orientation towards getting the most possible value for their money, while at the same time finding the easiest possible way to make purchases. Further complicating the situation is Generation Z, which is set to become the most important customer for many brands. With their formative years having been spent in isolation (Covid-19), economic instability, global conflict and worsening climate change, coupled with the significant time that they spend on social media, will lead to brands and us having our hands full with this generation.

cordmagazine.com

At UM, we transform our business continuously, keeping pace with new technological trends and changes to consumer needs and behaviour, in order for us to always be ready to deliver our clients the greatest value for their investments. We have adopted a transformative approach in all aspects of our communication creation and advertising services, in order

that helps us better position brands and leads to greater communication efficiency. Directed towards addressing specific brand and communication challenges, our new “StrAItegy” service emerged through the integration of our many years of strategic expertise with AI capacities that are advancing swiftly. On the foundation of powerful insights based on data and research, the new service focuses on the development of disruptive communication that helps emphasise brand uniqueness and relevance, empowered by

WE ENTERED 2024 ENTHUSIASTICALLY, PREPARED TO OFFER OUR CLIENTS OUR STANDARD GOOD SERVICE, BUT ONE THAT’S BEEN IMPROVED IN ALIGNMENT WITH GLOBAL TRENDS AND THE DEVELOPMENT OF OUR INDUSTRY for us to satisfy the needs of consumers in the best possible way and provide our clients with the most effective solutions. When it comes to data and analytics, we have long since been providing this type of service to our clients, ensuring that our strategies and planning are data-driven and secure an increased ROI. This will continue to be among our focus areas, starting from our network tools that incorporate data obtained from local research, via consumer research conducted using our own methods and aimed at generating insight

AI tools with the aim of providing fast implementation and content that’s fully integrated with a defined strategic framework. We entered 2024 enthusiastically, prepared to offer our clients our standard good service, but one that’s been improved in alignment with global trends and the development of our industry, as well as new services that have been strengthened through technical and technological development and digitalisation, which we are improving continuously in our system.

CORPORATE

THE IMPACT OF AI ON MARKETING COMMUNICATIONS DANKA TRBOJEVIĆ Managing Director, DRV

rtificial intelligence has proven to be an valuable tool, and its influence on the industry has led to the creation of highly personalised products, streamlined processes and more efficient management. The use of AI among our industry’s experts will be a crucial factor in achieving the best results. Significant improvements are evident in audience targeting, campaign personalisation and data analysis, but also in the creation of solutions through tools such as Midjourney. Several of our intriguing campaigns have been realised using this tool.

In the modern era, AI’s role isn’t just a sea change, but a true revolution. This dynamic blend of technology and marketing strategies is transforming the way brands communicate with their target audiences sponses, consumers now interact with smart assistants that not only solve problems, but also understand emotions. AI liberates marketing professionals from routine tasks, giving them more time for genuine creativity. However, the arrival of AI tools like DALL·E 2, Midjourney etc., raises concerns among creators that AI will leave humans without creative expression. The good news is that this is not the case. By using

RESEARCH INDICATES THAT, WITH CONTINUOUS ADVANCEMENTS, AI HAS THE POTENTIAL TO DOUBLE ANNUAL ECONOMIC GROWTH RATES BY 2035 AND COMPLETELY TRANSFORM THE WAYS PEOPLE WORK, CREATE AND COMMUNICATE Research indicates that, with continuous advancements, AI has the potential to double annual economic growth rates by 2035 and completely transform the ways people work, create and communicate. Chatbots have become key players in interactive customer communication. The use of AI in chatbots provides users with an experience that isn’t only interactive, but also emotional. Instead of basic re-

tools like MidJourney, we can create high-quality content, covering everything from text to images and video materials. With tools such as OpenAI GPT-3 and Jasper AI, less time is spent on text generation, leaving more time for connecting with clients or working on new creative endeavours.. Additionally, as these writing tools formulate text with fewer spelling or grammatical errors, achieving

a consistent tone and style, using it, content creators can have more time and space for coming up with better ideas. It is important to note that texts generated by AI tools are still not immune to bias or misinformation. Therefore, people still need to carefully review content generated by artificial intelligence before publishing. Currently, artificial intelligence helps us create more personalized content, and increase advertising revenue and SEO rankings, helping us learn how to communicate better via chatbots. Is AI capable of being creative in the same way humans are? No, and it probably will never possess the same creativity as humans. Creators are behind what AI can generate, and that’s something to be excited about. In the coming years, AI will likely play a significant role in creating a substantial portion of the content we consume. However, it’s essential to emphasize that its role will remain as a unique and useful tool, not a replacement for human creativity. Despite facing ethical questions, it is undeniable that AI can expand the boundaries of what people believe is possible and likely lead us to new creative heights that we cannot even imagine yet.

COMMUNICATIONS 2024

CORPORATE

LISTEN, HEAR, FORMULATE & ADJUST, THEN SPEAK At Fusion Communication they don’t fear new technologies, rather they truly believe that – provided they are adopted and utilised in the right way – new technologies can represent key tools for expanding not just individual knowledge, but the entire industry he communications market is accelerating constantly, with services multiplying and intertwining, and with the constant emergence of new trends, requirements, demands and client expectations... We discussed how all of that is viewed from the perspective of one of Serbia’s most successful agencies with its MD, Nevena Kurtović.

The word fusion, which forms part of your agency’s name, indicates the perfect combination of expertise, energy and storytelling at multiple levels, but does it also serve to indicate everything clients can expect from you? Can the service portfolio be expanded endlessly? — With the constant expansion and growth of technology, AI, and the ever-changing directions and channels of communication, I can truly state that our agency has to represent a fusion of understanding. We have to be able to understand the audience, the channels, our clients – and to be able to recognise the subtleties of the messages we need to communicate. Only then – through partnerships with our clients, the media and all other relevant stakeholders – can we continue to grow not just our portfolio, but also ourselves, as professionals, as a team, and as individuals. Has the speeding up of the communications market, as well as the multiplying and intertwining of services, led to change in the way we communicate? cordmagazine.com

— This is a somewhat tricky question, because the need for communication will never cease to be one of the key factors in our lives. For people, brands and companies – communication is key. Communication that is precisely formulated and targeted is even more important. Has the way we communicate changed? Yes, it has, but primarily due to the number of channels and tools that we now have at our disposal. We have to determine where our audience is, what they need and want to hear, and adapt our messages and communication accordingly. You can’t just put your messages out there with no feedback. It is, and has always been, a

FOR PEOPLE, BRANDS, AND COMPANIES – COMMUNICATION IS KEY. PRECISELY FORMULATED AND TARGETED COMMUNICATION IS EVEN MORE IMPORTANT two-way conversation and, just like in any conversation, you need to listen – that’s the most important part of any conversation. Listen, hear, formulate and adjust, then speak. The communications market has for years been seeing the emergence of new professions

NEVENA KURTOVIĆ Managing Director, Fusion Communications and a growing need for specific skills. Does that also require that those of you who’ve been in the business for a long time constantly adapt, learn and improve your skills? It that how the profession advances? — Absolutely. By expanding our knowledge and keeping abreast of all new aspects and innovations, we are able to keep up to date, innovate and develop our market and the industry itself. Staying in a single lane, without broadening our knowledge or adopting new forms, channels and ideas, doesn’t allow us to grow. We all have to stay ahead of the game, keep pace with new technologies and utilise them in their best form. There is often discussion about the fear of new technologies. However, at Fusion we truly believe that new technologies, provided they are adopted and used in the right way, can represent a key tool in expanding not just our knowledge, but the entire industry.

CORPORATE

Ivana Glišović, Senior PR manager

BEHIND THE SCENES OF SUCCESS

A GOOD PR STORY RESOUNDS Anita Mikulić, Senior PR manager

LIFE IN THE PR WORLD

Agency Right recently celebrated a significant milestone: 20 years of dedicated, responsible and creative work. A two-decade presence on the PR scene, hundreds of successfully organised projects, well-executed strategies, numerous satisfied clients and the significant interest of many to join us on this journey all serve to prove our solid success. But what actually lies behind the scenes? That would be trust and an absolutely transparent relationship with all clients, as well as nurturing relationships with all media outlets. It’s not always easy to understand all the demands and desires, to react both quickly and accurately, but with years of experience you also gain that freedom and integrity, both as an agency and as individuals. As someone who has one of the longest tenures at Right, I can confidently confirm that success is guaranteed when you view your work, projects and client relationships through key principles, which all of us at the agency agree on: the overall wellbeing of our clients and our reputation. Awards, recognitions, daily compliments, years of existence and the prestigious brand names we stand behind – these are all measures of success. However, what has always been, and will remain, most precious to us is that clients recommend us to other companies based on the results they have achieved together with us. When someone truly believes in you and can rely on you at any moment, you know you have succeeded.

I CAN CONFIDENTLY CONFIRM THAT SUCCESS IS GUARANTEED WHEN YOU VIEW YOUR WORK, PROJECTS AND CLIENT RELATIONSHIPS THROUGH KEY PRINCIPLES, WHICH ALL OF US AT THE AGENCY AGREE ON: THE OVERALL WELLBEING OF OUR CLIENTS AND OUR REPUTATION

In the world of PR, life is a constant interplay between meticulous strategy and a profound sense of responsibility. It entails navigating the delicate balance of reputation management, where every word, every action, and every interaction carries weight. Right is a place where creativity meets thoughtfulness, and success is measured not only in positive exposure but in the trust and credibility earned from stakeholders. PR demands a serious commitment to ethical communication, strategic foresight, and a deep understanding of the ever-evolving dynamics of public perception. We are entrusted with the task of sculpting narratives, mitigating crises and fostering meaningful connections, all while upholding the integrity and credibility of the enteties we represent. Within our professional landscape, my colleagues often attribute expertise in crisis PR to my role, yet I firmly believe that our agency stands as an authority in meticulous planning and crisis prevention – the very core of effective PR. Life within this sphere can be truly gratifying and profound when elevated standards, robust foundations, and proactive foresight become the guiding principles. I assert that the essence lies in the timely identification of potential crises. What gives our efforts an exceptional quality is the increased corporate awareness of social responsibility, which becomes not only a source of professional satisfaction but also a tangible contribution to the betterment of our society and local community.

I FIRMLY BELIEVE THAT OUR AGENCY STANDS AS AN AUTHORITY IN METICULOUS PLANNING AND CRISIS PREVENTION – THE VERY CORE OF EFFECTIVE PR

COMMUNICATIONS 2024

A LONG WAY, RIGHT? Jelena Manojlović, Senior PR manager

Sandra Krstajić, Digital Communications manager

NEW TRENDS

THE (PR) VALUES WE NURTURE

Values like responsibility, integrity and proactivity are crucial to maintaining continuous success in any business. PR involves the enhancement of all these values, which, in combination with skills, contribute to progress in every sense. The key value that we nurture at Right, firstly towards our colleagues and then in relationships wit\h clients and the media, is respect. Maintaining a good atmosphere within the team and granting every individual the freedom to develop their creative and other skills is a priority, because this principle creates happy people, and clients can feel that positive energy and enthusiasm themselves. In an industry where change happens every day and new projects are being born constantly, it is easy to maintain motivation if you are born for PR, and that is a particular kind of challenge for you. In addition to the standard services that we provide to our clients, Right agency also offers consulting services and education to transfer knowledge. Our focus is always on maintaining a balance between timeless values and innovations, to which we want to adapt both as an agency and as individuals. We are fully aware of the potential advantages and threats posed by artificial intelligence, but we also believe that human creativity and the sense of a good PR campaign cannot be surpassed by anything. We have done really well over the last 20 years in that regard, and that’s something we must admit, albeit modestly.

OUR FOCUS IS ALWAYS ON MAINTAINING A BALANCE BETWEEN TIMELESS VALUES AND INNOVATIONS, TO WHICH WE WANT TO ADAPT BOTH AS AN AGENCY AND AS INDIVIDUALS cordmagazine.com

It is a fact that, in order to remain recognised as a market leader, you must keep pace with innovations. The development of the digital sector at Right came naturally and at the right time. Globally, the digital segment has overtaken traditional media. Although this is not yet the case in the Balkans, the increasing influence of social media on individuals in our region is evident. It is certain that this segment will only flourish further in the near future, and given that job requirements are becoming more complex, new platforms will even become interesting to traditional businesses that have not been inclined towards constant change so far. Innovation and dynamism are indeed imperatives in communications, and these two factors are what intensely connect the PR and digital sectors. Understanding and constant collaboration, as well as being informed about the activities of other sectors, are key to our excellent intersectoral cooperation. The advantage of this way of organising work is that our digital sector is the one constantly bringing new tools and platforms through which communication takes place, injecting dynamism even into the traditional PR sector. A youthful team, equipped with experience, a genuine passion for their work, a positive outlook, and the readiness to take on any challenge, is poised for significant achievements. On the back of our success in the digital field, we believe even more that the future belongs to integrated communication and platforms that promote authentic content created with a clear purpose. A penchant for innovation and creating different content compared to what we are used to consuming will be crucial in the coming years.

OUR DIGITAL SECTOR IS THE ONE CONSTANTLY BRINGING NEW TOOLS AND PLATFORMS THROUGH WHICH COMMUNICATION TAKES PLACE, INJECTING DYNAMISM EVEN INTO THE TRADITIONAL PR SECTOR

CORPORATE

OVER SEVEN HILLS Embark on a journey through the enchanting landscapes of Sedam Brda, where the world’s most renowned brands rendezvous with the vibrant spirit of regional gems. They traverse the vivid tapestry of marketing communications, crafting experiences that transcend expectations and challenge industry standards

ALEK GARČEVIĆ CEO of Sedam Brda

n the ever-evolving landscape of marketing communications, where global brands strive to make their mark, one agency has been navigating the terrain with finesse. Alek Garčević, the CEO of Sedam Brda (Seven Hills), leads an agency that blends the agility of a boutique firm with the wisdom drawn from working with industry giants like Coca-Co-

la, Audi, and Sony. In this exclusive interview, we delve into his insights, experiences, and the unique philosophy that sets Sedam Brda apart in the world of marketing and branding. From conquering colossal challenges to the art of crafting memorable campaigns, Garčević provides a glimpse into the world of a “Cool Service Agency” that champions creativity, innovation, and, above all, delivering results.

You’ve collaborated with giants like Coca-Cola, Audi, Volkswagen, BAT, Telenor, Canon, Sony, Bosch, Unity, EUnet, among others. Can you share your most interesting experiences with any of these brands? — At times, I’ve been in a position to craft an entire strategy for specific market segments with my team. In other instances, my contribution has been through the creative department or production. Each of these major brands has been a significant learning experience, especially Coca-Cola and BAT. Today, we apply those experiences to brands that might not be globally recognised but have similar communication needs. When it comes to IT clients, our knowledge base started to form through our collaboration with EUnet, which we followed from the early days of the internet entering the Serbian market. These are clients predominantly engaged in blockchain, gaming, and advanced technologies. Nevertheless, our greatest satisfaction comes from working with regional brands. Everything moves much faster and is less formal. You’re always in a position to converse with the top decision-makers. This makes every meeting significant, as you’re sitting across from someone who makes real-time decisions. Could you describe these meetings to our readers? — I always prepare meticulously for every meeting – without ex-

COMMUNICATIONS 2024

ception. There are no more or less important meetings, only those for which you are prepared and those for which you are not. I demand the same from my colleagues. If you want to work in communications within a specific industry, you must understand every detail of that industry. That’s the only way for a client’s brief to fall on fertile ground. On several occasions, I’ve surprised those present at meetings with the depth of my knowledge about the industry we’re dealing with. This has nothing to do with intelligence or creativity; it’s hard work. Thinking about something longer than others can also mean you’re not particularly smart (laughter).

What’s the advantage of boutique agencies over large agencies? — Dan Wieden and David Kennedy didn’t have a large agency when they proposed the slogan “Just Do It” to Nike. They probably would have been dismissed without a fair hearing if they had suggested such a radical idea in a big agency. Today, that slogan is history, taught to new generations, and Nike delivered a significant market blow for its time. I would love to see the faces of Reebok’s management when they saw the campaign. It takes courage to propose different solutions and seek a budget for them. In a large agency, you answer to the entire hierarchy, while in a small agency, you answer only to the client and your conscience. I’ve worked in large agencies and met a number of brilliant people who know, can, and want to. They’re intertwined with a large number of people who are there to earn a salary. Clients are left with a lottery in terms of what they might get. Corporations are not places where creative spirits flourish. We all know that, despite attempts to portray things differently.

brought from large agencies, and a long list of trusted collaborators developed over the years. Of course, there’s always a need for play. We treat clients as teammates with whom we must achieve results. During the game, we ensure that our solid strategy never prevents us from executing a memorable dribble. All of this allows us to act swiftly across the entire spectrum of communications without risking the quality of our solutions. Simply put, we save both money and time.

commodating clients with specific requirements. Quite the opposite! The world is changing rapidly, and thus, the way we approach and communicate in the market evolves. Simply put, you must be prepared.

UNLOCKING COOL SERVICE BRILLIANCE

Sedam Brda’s Odyssey WE TREAT from Global Icons to Local Marvels in Marketing CLIENTS AS Communications TEAMMATES WITH WHOM you did that!” Or when you walk into a company you’ve been workWE MUST ing with for over a decade, and ACHIEVE your logo from the beginning of the collaboration is still on the A RESULT door. Success is often quantifiaAn unusual name – Sedam Brda ble through increased sales, but DURING (Seven Hills)? there’s nothing more satisfying — Anyone who has read this interthan when a client genuinely conTHE GAME, view up to this point will remember nects with their brand through our the name. That’s enough to get start- WE MAKE work. Yes, I’ve chosen the right ed! Leading elephants over the Alps word – connected. was difficult, but Hannibal made SURE THAT history doing it. He had a different What lies beyond the seven hills? idea and the strength to believe in OUR SOLID — The eighth. It’s our mountain reit and venture over the hills. Our sort where we raise horses and ofname represents our core: consult- STRATEGY ten hold meetings with clients who ing, branding, advertising, graphenjoy coming there for brainstormNEVER ic design, digital, video, and event Is the assertion that smaller ing sessions. During those times, production. Depending on which are more agile correct? we can completely focus on each PREVENTS agencies of these “hills” is in front of our cli— Unquestionably! Information other and the task at hand. But ents, we assist them in their ascent. US FROM flows in real time, and decisions it’s also a place to relax and deepare made or adjusted based on it. en personal relationships. It sounds like a full-service EXECUTING A Of course, there’s a strict protoTechnology has brought tremenagency. col in information exchange, but dous progress to the industry, but, — No – we’re a Cool Service Age MEMORABLE it’s significantly simplified com- on the other hand, it has somewhat ncy (laughter). We possess the pared to corporations. That proto- suppressed the emotional factor. col should never hinder us from ac- Some of our clients are even from experience and knowledge we DRIBBLE

cordmagazine.com

What defines success for you? — It’s the enduring passion, the relationships that have stood the test of time, the trust that’s been earned, and the brands that have been built. There’s a wonderful feeling when someone says, “Oh,

other continents. We got to know them thanks to technology. Business is concluded through Zoom meetings, emails, chats... So many of them we’ve never met in person. Again, thanks to technology. Our method is based on vast experience and technological knowhow, but the alchemy of market communications doesn’t function without a personal element. In that triangulation, through hard work, creativity emerges, yielding results.

CORPORATE

STRIVING FOR CONTINUOUS GROWTH Agency Chapter 4 Serbia, which forms part of the Chapter 4 CEE network and is a partner of BCW, one of the world’s largest agencies, continues to offer exceptional services across the region. Its approach includes collaboration with colleagues from other markets, exchanges of knowledge and experience sharing

MILENA AVRAMOVIĆ BJELICA Chapter 4 Co-founder & Executive Director

TAMARA BEKČIĆ Chapter 4 Co-founder & Managing Director

hapter 4 Serbia achi eved great success over the past year, by completing numerous projects, gaining new clients, expanding cooperation with existing partners and improving in all fields. Its achievements were even highlighted by European PR recognition. Entering 2024, the Chapter 4 team – led by Co-founder & Executive Director Milena Avramović Bjelica and Co-founder & Managing Director Tamara Bekčić – is launching ambitious plans, some of which they shared with us in this interview.

The Chapter 4 PR team comprises experts who have extensive business experience. What do clients appreciate in particular when it comes to your agency? — Milena: We are part of the Chapter 4 CEE network, and additionally partner one of the world’s largest agencies, BCW. This helps us keep track of global developments and trends in communication. It also enables us to exchange knowledge and share experiences through collaboration with colleagues from other markets; to offer different practices and the highest quality to our clients here and across the region.

Clients highly value our knowledge, experience, market understanding, analytical skills, proactivity and creativity. We also desire to constantly improve our understanding of our clients’ industries, their challenges, competition and more. A proactive approach and observing the bigger picture contribute to the quality of our work with clients. Quality can be measured in many ways. Long-term partnerships are one of them, and we are proud of our successful partnerships with clients and colleagues who have been members of our team for many years. Even when they are no longer team members, we remain friendly and support each other professionally. Quality is also reflected in industry awards that serve to highlight good campaign results and successful client collaborations. Taking a broader perspective, you combine public relations tools with other areas of communication and marketing. What do you think is the advantage of such an approach? — Tamara: We see this integrated approach in practice as the present and future of communications. In contrast to the previous dec-

ade, when communications were fragmented and based on topics, target groups or communication channels, the pandemic showed us a different path and acted as an accelerator for increasing the internal and external integration of communication. We are aware that the silo principle doesn’t contribute to efficiency, so the emergence of a “mixture” of communications is a logical strategic partnership between teams that ensures a consistent narrative and timely communication through all channels and with all target groups. Integrated communication supports companies’ business plans and enables dialogue, which is crucial to the survival, success and growth of companies. Your industry demands continuous work, dedication, learning and the nurturing of creativity... It seems demanding because you must always be ready for action, but it is also precisely this dynamism that drives you and makes you successful... — Milena: That’s right, our profession is highly dynamic and that’s also what makes it the most interesting to me – the fact that you’re constantly learning because you gain clients from various indus-

COMMUNICATIONS 2024

tries. In order to provide clients with high quality advice, you must learn as much as possible about that industry in order to be able to suggest the best communications channels and tools. Every day is different for us. No matter how many projects and events we organise or communication materials we write, we always approach each new one with equal enthusiasm, and every activity is a new challenge for us. We want to show that there’s always room for something different and better, and that’s what makes our profession so exciting. Tamara, you are participating in this year’s 21st International PRO PR Conference, which will take place in Belgrade from 14th to 17th March, with a lecture entitled “(New) PR Quality”. What is this new PR quality? — Tamara: It is a great pleasure to participate in the 21st International PRO PR Conference and to speak about quality in the profession and how its perception is changing. This conference, entitled “New Directions, New Challenges”, is unique in that it is held in a different country each year and will this year be in Serbia, in Belgrade, which is very significant to all our colleagues for whom this important gathering will be even closer. Many factors influence transformations in public relations – from geopolitical circumstances, the economy, new technologies and creativity, to generational shifts and the needs of users and consumers. We all want our companies and brands to be seen in the right way and the best possible light, and quality PR campaigns and communication can truly achieve that. Your team is accustomed to receiving awards and recognition, but you don’t hide that the European Excellence Award carries a special honour. Tell us more cordmagazine.com

about this award, which is given for outstanding quality and creativity in communications. — Milena: We are fortunate to have had a very high-quality and cohesive team since the agency’s inception, and I am very proud of them. Thanks to the creativity, hard work and ideas of the entire team, we have been winning awards consistently. We have been declared Agency of the Year by international juries twice in Serbia and once

ly very satisfied with everything we’ve achieved as a team. You had another successful year in 2023. What did you wish for in 2024; can it be even better? — Tamara: In a business sense, 2023 was a good year for the Chapter 4 PR team. We won new projects, gained new clients, expanded our cooperation with existing partners and worked to contribute to the development of the profession and our

AWARDS HIGHLIGHT CAMPAIGN RESULTS AND GOOD CLIENT COLLABORATIONS in Eastern Europe, and we have also won awards with all the clients with whom we’ve had longterm collaboration. We also won this year’s socalled European PR Oscar - the European Excellence Award. Two projects for two of our clients, Pepsico and Galenika, made it to the finals. In competition among over 700 top European projects, we brought the highest gold medal home from Berlin. We are tru-

progress, both individually and as a team... Our successes were crowned with the European PR recognition that we received in December. My wish for this year is for us all to be well, first and foremost, and to strive for continuous enhancement compared to yesterday – to grow, overcome challenges, demonstrate innovation in dealing with changes, and push boundaries. I wish us all many good questions, decisions and team success.

CORPORATE

EVERY PROJECT IS A NEW STORY The operations of Abeceda Communications are grounded in experience, knowhow, strategic reflection, creativity, fostering relationships with clients and familiarity with tools and the market, but apart from all that, at this agency they also believe it is extremely important to be different and courageous

MARINA BOLANČA CEO of Abeceda Communications only comes to something you love and to which you are truly dedicated.

o ensure success, each Abeceda project is the result of deep analysis of the market, industry and competition, as well as previous activities. Only then do they begin creating a proposal, which usually also involves our interlocutor, Mrs Bolanča, because she thereby shows just how much she cares.

The communications industry has changed massively since Abeceda Communications was founded, yet you haven’t lost your passion and dedication to the job. Do you still approach every project with enthusiasm and a sense of joy? — The only constant is change, said Petar Preradović long ago, and incredibly he was right. That which might be difficult for some is the most beautiful for me. There is no routine with this job. Every day is different; every project is some new story. I find that dynamic wonderful. It will perhaps sound strange to some, but I am truly in love with my job. The possibility to create and bring about change drives me, and nothing is difficult for me when it comes to communication. And when I say nothing is difficult for me, I really mean it. And I genuinely don’t think love for one’s work is reserved exclusively for the creative industries... I think that love is a prerequisite for success. Growth and development

You like to say that every client is your most beloved client. Do you really succeed in dedicating yourself to each of them completely; to serving their expectations and needs, and doing so on all three markets where you operate? — Long ago, at some business coach workshop, my personality was described as ’caring’. It simply couldn’t happen that a friend of mine would tell me that she’s taking her son for some medical examination and that I wouldn’t send her a message on the morning of that appointment saying ’don’t worry, everything will be fine’. That’s just the way I am. I take the same approach to my work. I don’t have any special formula or advice for that. I just conduct myself in accordance with my values, and there the fact that I care prevails. We have very low client attrition at the agency, under 10%. Last year’s NPS

I’VE PASSED ON MY LOVE FOR THE JOB – THAT ASPECT OF CARING AND LEADING CLIENTS IN SUCH A WAY AS TO ENSURE THEY CAN ALWAYS DEPEND ON US – TO MY TEAM

showed a score of 9.8, meaning we only have 0.2 left to fix. I’ve passed on my love for the job – that aspect of caring and leading clients in such a way as to ensure they can always depend on us – to my team, so we all function in the same way. Could it be said that you are continuously pushing the boundaries and raising the bar? — We are a strategically creative agency. Strategic because we are very well-acquainted with the functioning of business models. This is where we are given our greatest strength by the breadth of our clients, who hail from various industries, as well as the fact that they come from different markets. Creative because communication has to be innovative, interesting, offering some new direction in order to be appealing and accepted by the audience. Today, when we have an entire array of different media, so that every person is their own media outlet with their social media profile; when everything has become so fast; when artificial intelligence “threatens” to take our jobs, right now is when the human factor and creativity are the most important. Machines have no empathy! That’s a quality reserved only for humans. It is from this starting principle that we create communication that is effective, attracts attention and yields results. And that is the very purpose of communication. I am extremely grateful to my clients, particularly when we first start working with them, for giving us the confidence to step outside the box and stride forward.

COMMUNICATIONS 2024

CORPORATE

OPEN APPROACH TO CREATIVE WORK Rocket Flow is a multidisciplinary agency that offers a wide range of services and takes an integrative approach to every project. Cooperation with international clients encourages its team to think outside the box ere Rocket Flow’s Andrea Ivančević reveals how its jobs are approached in a creative way, why it is good for all team members to take an “out of the box” approach to projects and how this corresponds with the agency’s slogan “Cosmic Minds, Infinite Ideas”.

It could be said that you’ve succeeded in combining science and creativity in order to best respond to clients’ requirements? — Rocket Flow offers a wide range of services with the aim of supporting clients in the development of their operations. This all-encompassing support becomes crucial to the success of our clients, enabling them to devote themselves to the key aspects of their business, while we take responsibility for the creative and strategic aspects. Our team comprises experts in various fields – from design and marketing to photography and software development. All team members are dedicated to monitoring the latest trends in their fields, thus ensuring that clients have access to the latest solutions. An open approach to creative work forms part of our philosophy, enabling every member of the team to contribute actively with their ideas. It is precisely this exchange of ideas that often proves crucial to the development of innovative solutions, making us a partner that not only meets expectations, but also exceeds them. cordmagazine.com

Although it could be said that companies like routine and a classic offer of services; that they want to know what to expect from an agency, it has also been shown that they appreciate it when they are offered something different. Are you among those agencies that offer new horizons? — Our cooperation with international clients encourages us to think beyond the usual templates and frameworks. We aren’t limited to the traditional approach to doing business in Serbia – rather we are ready to provide our clients with an experience that differs from the norm. Our experience to date, par-

ANDREA IVANČEVIĆ

nonetheless has its own unique qualities that aren’t insignificant. In which ways are we different, and how do our communications also differ in accordance with that? — Rocket Flow is from Serbia and focuses on shaping visual identities, branding and marketing strategies for products, while many Serbian firms only contribute to the development of software for international IT companies. At the global level, we collaborate actively with markets in America, Europe and the Far East, confronting diverse economic environments and design expressions. We are particularly proud of our

Founder & Chief Executive Officer, Rocket Flow

WE AREN’T LIMITED TO THE TRADITIONAL APPROACH TO DOING BUSINESS IN SERBIA – RATHER WE ARE READY TO PROVIDE OUR CLIENTS WITH AN EXPERIENCE THAT DIFFERS FROM THE NORM ticularly with foreign clients, confirms the great success of this kind of approach, resulting in the client being satisfied with the final product. This business philosophy and way of thinking represents a solid foundation for the development of our internal projects, which we are working on currently and planning to launch on the local market. Serbia is a small market, especially when compared to those of the U.S. and the EU, but it

successful cooperation with company MeliBio Inc. from San Francisco, which develops innovative vegan products like vegan honey (Mellody) and is planning expansion to the EU market and our domestic market. Our ability to recognise differences in the preferences of users from different parts of the world enables us to provide our clients with something that’s new and innovative, while simultaneously expanding our horizons to encompass new markets.

COMMUNICATION TRENDS

NAVIGATING THE DYNAMIC LANDSCAPE OF 2024 n the ever-evolving realm of public relations, 2024 promises to be a year of dynamic change, driven by the relentless march of AI-driven technology. This transformation is unfolding at an astonishing pace, and its impact is set to permeate every facet of our lives. To excel in this shifting landscape, PR professionals must not only keep pace but also anticipate and embrace the following six key trends:

he Human Touch T in a Digital World

Amidst the proliferation of AI, forging authentic human connections remains paramount. PR strategies must transcend traditional corporate messaging, infusing brands with relatable qualities such as empathy, humour and understanding. By doing so, they become more approachable and relatable, forging deeper bonds with their target audience.

The Power of Authenticity

In a world of superficiality, authenticity reigns supreme. Staying true to one’s values and resisting external pressures sets brands apart. Authentic PR builds trust and credibility, fostering enduring relationships based on genuine connections.

COMMUNICATIONS 2024

Navigating the Social Media Landscape

While securing top-tier media placements remains crucial, a robust social media presence is equally vital. Platforms like LinkedIn and X (formerly Twitter) provide direct and immediate communication channels, enabling broader outreach, real-time engagement and relationship-building. Crafting original content, publishing thought-provoking articles, igniting discussions and creating a compelling online presence all contribute to shaping a powerful brand identity.

Harnessing the Power of Data

In the age of technology, data reigns supreme. Gone are the days of relying solely on intuition; data-driven decision-making is the new norm. Setting clear goals, specifying metrics and understanding data sources are essential steps. Numerous tools are available, and understanding their functionalities and insights is key to success.

he Synergy of AI T and Human Expertise

Artificial intelligence complements, rather than replaces, human expertise. AI-powered tools aid in data analysis, offer real-time insights, generate content, and assist in crafting effective PR strategies. Understanding the capabilities and limitations of AI is crucial for leveraging its full potential.

The Imperative of Continuous Learning

As technology advances, PR professionals must continually upskill to stay competitive. Expertise in data analytics, digital marketing and AI integration is in high demand. Emphasising ongoing education and investing in high-quality workshops ensure that PR teams are well-prepared for the dynamic industry landscape. In the swiftly evolving landscape of public relations, success in 2024 hinges on adeptly navigating these emerging trends and technologies. From AI-driven analytics to digital platforms, embracing these innovations is the cornerstone of triumph in the PR arena. cordmagazine.com

PROFILE

Bringing Abstract Ideas to Life “One region - One economy” isn’t just an empty phrase, rather it is backed by a lot of dedication to interlinking the businesses of the region, but also to representing them, loudly and clearly, in the regional economic agenda

Tatjana Shterjova Dushkovska Secretary General of the Western Balkans 6 Chamber Investment Forum

ore than a decade has passed since the first time I entered the building of the Economic Chamber of North Macedonia – and I initially wasn’t even there to handle some of the core issues a business organisation usually deals with. I had just enrolled in my Ph.D. studies and received an offer of a part-time engagement in the Arbitration court attached to the Chamber, so I said ‘why not?’ I never planned to remain there for the long run. I was engaged as a teaching associate at the Faculty of Law at the time, dealing primarily with civil procedural law, and, as such, the business environment wasn’t really on my mind – actually, business law and corporations were among the least interesting topics during my studies. And if somebody had told me back then that I would be gladly delving into regional economic cooperation issues every day, I’d probably laugh.

So, what changed? My evolution from a law student to a regional cooperation frontrunner is inextricably linked to that building of the Chamber, right in Skopje city centre. The years spent there, and the experiences I had the opportunity to garner from the leading people in the Chamber, opened me up to new horizons, extending far beyond the lecture halls where I used to teach. I’ve come to realise that the legal principles I studied aren’t only connected to the preparing of statements of claim, judgements, appeals and enforcement proceedings – actually, the rationale behind a good law lies in the ideas it is trying to enforce, and you can take those ideas with you in any area you work. And those ideas are now my daily companions at the Chamber Investment Forum – an association that emerged out of the idea of six Chamber presidents that they can achieve

much more for their national economies by joining forces and working together than any of them would have been able to achieve on their own. And that is an ideal that we at the CIF Secretariat are working hard to reaffirm every single day: that the true powers of regional cooperation lie in shared ideas and visions, and in making the most of the joint journey of the six national economies to the EU Single market. “One region - One economy” isn’t just an empty phrase, rather it is backed by a lot of dedication to interlinking the businesses of the region, but also to representing them, loudly and clearly, in the regional economic agenda. The acknowledgement of our efforts that came with last year’s Brussels Declaration is a clear indicator that we are on the right track in supporting our businesses on the road to the free movement of goods, services, people and capital. Being recognised as one of the integral stakeholders in the regional processes, but also hearing positive feedback from companies to which we have provided tailored support, gives me the will and moti-

The legal principles that I studied aren’t only connected to preparing statements of claim, judgements, appeals and enforcement proceedings – actually, the rationale behind a good law lies in the ideas it is trying to enforce, and you can take those ideas with you in any area you work vation to keep pushing forwards, until our economies are all part of the Single market, and I truly hope that day isn’t that far away. Nowadays, I very rarely get to deal on a daily basis with the kinds of legal issues that were in my focus throughout my education (and, to be completely honest, maybe I miss that from time to time), but the satisfaction brought in my daily work on regional cooperation compensates for that.

cordmagazine.com

ART

Paja Jovanović Masterful Painter

The Who Wove

History into Art

Discover how this 19th-century artist’s masterful strokes in Realism and Academic art vividly depicted Serbian culture, history, and everyday life, leaving a lasting legacy

february

n the world of art, certain figures transcend the boundaries of their homeland, etching their legacy in the global tapestry of culture. Pavle “Paja” Jovanović, born in 1859 in the then Habsburg Monarchy town of Vršac, now in Serbia, is one such luminary. A name synonymous with Serbian national pride, Jovanović’s brush strokes told stories that resonated far beyond the confines of a canvas. Jovanović’s journey into the art world was almost predestined, with his father’s profession as a photographer introducing him to the world of visuals at a young age. His prodigious talent was evident early on, and it led him to the prestigious Academy of Fine Arts in Vienna at just 15. This city, a melting pot of European art and culture, was where Jovanović’s artistic identity was forged. Under the guidance of Christian Griepenkerl and Leopold Carl Müller, Jovanović mastered the Realist style. But it was his infusion of Academic

Pavle “Paja” Jovanović

cordmagazine.com

art techniques that set his work apart, making it both technically impeccable and emotionally resonant. His paintings were not mere representations; they were stories told through the medium of oil and canvas. Perhaps no work of Jovanović better encapsulates his style than “The Migration of the Serbs.” This masterpiece is a vivid portrayal of a key moment in Serbian history, depicted with an almost photographic realism. The painting is a tapestry of emotion and movement, capturing the struggles and hopes of a people in flux. But Jovanović’s art was not confined to the grand narratives of history. He was equally adept at capturing the essence of Serbian rural life, with his portraits of peasants and everyday scenes being particularly notable. These works, marked by an acute attention to detail and a profound understanding of light and shadow, bring

february

TOP: Migration of The Serbs LEFT: Portrait of Sofija Ciklaj

Jovanović’s Realist style, infused with Academic art, brought stories to life on canvas, making each painting a vivid narrative

the viewer into intimate contact with the subject. In a career that spanned decades, Jovanović became more than just an artist; he became a national icon. His works were a source of pride for the Serbian people, a celebration of their history, culture, and identity. Even today, his paintings are not just art; they are windows into the soul of Serbia. As we look back on the life and work of Paja Jovanović, it is clear that his legacy is not confined to the frames of his paintings. It lives on in the heart of a nation and in the annals of art history, a testament to the power of a paintbrush in the hands of a master. His enduring influence is evident in the way contemporary Serbian artists approach their craft. Jovanović’s blend of realism and emotive storytelling continues to inspire a new gener-

His ‘Migration of the Serbs’ masterfully captures Serbian history, cementing Jovanović as a national icon and artistic inspiration

RIGHT: Portrait of Mihajlo Pupin LEFT: LEFT: Miloš, Marko and The Fairy DOWN: The Takovo Uprising

ation of artists, who see in his work a bridge between the past and the present. His ability to capture the spirit of a moment, whether in the grandeur of a historical epic or the simplicity of rural life, remains a benchmark for artistic excellence. Moreover, Jovanović’s impact extends beyond the art world. His paintings have become cultural artifacts, symbols of a national identity that has weathered the storms of history. They remind us of the power of art to transcend time, to speak to generations long after the artist has left the easel. In Jovanović’s work, we find a celebration of the human spirit, a chronicle of a people’s journey through the ages. As we continue to admire the beauty and depth of Jovanović’s art, we are reminded of the enduring power of creativity and expression. His legacy is not just in the paintings he left behind, but in the inspiration he continues to provide to those who encounter his work. Paja Jovanović was more than just a painter; he was a storyteller, a historian, and a visionary whose art will continue to captivate and inspire for generations to come.

cordmagazine.com

REMEMBERING GREATS

Fire BRANKO MILJKOVIĆ, 1934-1961

Burns Eternal

Photo Narodni muzej Niš Legat Branka Miljkovića

That

If he were alive today, prince of poets Branko Miljković would have turned 90 at the end of January. Still, the end of his life story came – as he’d predicted in his poetry – when he was just 27, on the outskirts of Zagreb. An alleged suicide that was actually most likely staged, and has never been brought to light, marked the end of a young life and a fledgling literary career. But his poetry remained. And it would be written about by everyone – as was stated, again prophetically, by Miljković himself By Dejan Stojiljković writer of prose and drama, author of the novel Star Over the Void

e left behind a double legacy. First and foremost is his work, which remains insufficiently elucidated, given that those who interpreted his poetry bound themselves to the wrong elements, while skimming over the important and essential. There is no doubt that he is among our all-time greatest poets. The other aspect of his legacy is

february

reflected in the myth about him, the legend of an anguished poet and someone who goes all the way, spitting in the face of death and laughing as he does so; about someone who embodies the poet from head to toe, and Branko was poetry itself... There is much about him that fascinates. However, in the whole story about his poetry and philosophy, and

about the mystification of Miljković’s life and death, his humanitarianism was overlooked. Branko really loved people and had a particular understanding for those who were marginalised and impoverished. There is his great poem Rudari [Miners], in which he writes: “They descended to hell for injustice. On which one can warm oneself.” This poem remains

His question “why do they kill poets in socialism?” continues to resonate. To say that at a time when saying much less could result in one being confined to prison or Goli Otok for many years, or facing something even worse, was an act of hitherto unseen courage bordering on lunacy painfully relevant today, more than half a century on. As an extremely intuitive man, he was able to see through all the imitations of the system, its shortcomings and duplicity, and as a cantankerous native of Niš, he didn’t hesitate to speak about that, clearly and loudly. That wasn’t really something that was liked by his comrades “from above”. His question “why do they kill poets in socialism?” continues to resonate. To say that at a time when saying much less could result in one being confined to prison or Goli Otok for many years, or facing something even worse, was an act of hitherto unseen courage bordering on lunacy. Quite simply, Miljković was bothersome the most because he didn’t back down and he feared nobody. Even when he realised that he had become a target of many, from the powerful to the envious, his defiance continued. The chorus of the Bijelo Dugme song Pljuni I zapjevaj [Spit and Sing] includes a famous line by Branko: “He who cannot listen to song shall be listening to storms”. Then there was the only award ever won by the band Šarlo Akrobata that was called the “Courageous Flower”, again after one of Branko’s poems. Niš-based band Stereo Banana last year released its album Niš Passions [Niške Strasti] that includes the song The Death of Branko Miljković. There are several music projects that combine rock music and Miljković’s verses. And this actually testifies to the vivacity and timelessness of Branko’s poetry. When you read his verses, you don’t get the impression that they were

written more than half a century ago, rather it seems that they were written just this morning. There are few such poets among our people. They are so rare that they can be counted on the fingers: Vasko Popa, Mika Antić, Branimir “Johnny” Štulić... He was a very complex individual who was characterised, already in his early years, by everything that characterises geniuses. So, he had an incredible thirst for knowledge, was constantly wondering about the meaning of the world and life, as well as working constantly on himself. Branko was incredibly erudite, well-read, educated, a polyglot... One could say that he was everything that the majority of contemporary Serbian writers aren’t. He could mount a competent argument on a wide range of topics, which was why he often found himself clashing with the authorities. And that’s another quality of geniuses – they don’t submit to authority. One of his most famous poems, “In Vain Do I Wake Her”, has for decades been interpreted by literary theorists, critics, and even poets themselves, but its meaning has somehow eluded everyone who tried to fathom it through verses that were written like some kind of wondrous code. A nd behind that poem is a story, a tragic story of wartime Niš. Specifically, in Branko’s neighbourhood, in that unhappy year of 1944, when the destructive bomber squadrons of our “allies” spewed bombs onto the city on the Nišava, lived a girl named Ruža. She was said to have been an

unparalleled beauty. Branko, who was then ten years old, saw Ruža constantly and was probably in love with her, just like the majority of boys from the street. Then came that fateful Easter of 1944, and with it the most devastating bombardment of Niš. Bombs even fell on the Cathedral, with one hitting the altar but not exploding. A divine miracle! But not for the beautiful Ruža, who sustained serious injuries in one of the bombing raids and ended up in a coma. During the following days, the people of Niš would repeat the same question every day: “Did Ruža wake up?” That question, like a mantra or a verse, would become etched in the mind and soul of the ten-year-old Branko. Ruža never did wake up. And, just a few years later, he would write a poem dedicated to her. “In Vain Do I Wake Her” would be the title of his first collection of poems, which would bring him both fame and enemies in equal measure. Fleeing the evil that he interpreted through his verses, his journey would lead him to Ksaverska Forest in the suburbs of Zagreb. To this very day, it still hasn’t been clarified whether Branko was killed, on that dark February night, by an excessively powerful word or by someone else. But the poem continues even when the flame of life has been extinguished. “In Vain Do I Wake Her” is one of the most beautiful love poems ever recited in the Serbian language. And it has ushered many people into the world of poetry. That’s how Branko and the beautiful Ruža entered the annals of eternity. And few people know what stands behind Branko’s verses, what kind of simple yet tragic human story. Just like Ruža, after departing this world, Branko awoke in some better one, having fallen asleep never to return. And he was right! People don’t die… They just awaken from this life, as if from a nightmare that’s lasted too long.

cordmagazine.com

Archaeology isn’t a Science of Sensationalism MY LIFE

february

This researcher of global renown claims that the area between the Alps and the Carpathians is one of the planet’s most creative territories. He spent more than 40 years working at Serbia’s Viminacium archaeological site, which he helped to put on the archaeological map of the world. He says that nothing has changed since the Neolithic Revolution, aka the First Agricultural Revolution, of 4000-5000 BC. It was then that the family unit became the basic nucleus around which everything is based. And now we’re at the start of a period during which cloning will bring a new age of civilisation Miomir Korać Director of the Archaeological Institute of the Serbian Academy of Sciences and Arts (SANU) By Radmila Stanković

cordmagazine.com

he Viminacium site is located close to the modern city of Požarevac. The major city of Viminacium originally emerged in the first century AD, during the reign of Emperor Hadrian, and remained inhabited until the early 7th century. More than 14,000 Roman tombs have been excavated at the site over recent decades, containing more than 200,000 objects, almost 2,000 of which were made of gold and silver. More than a dozen of them have been deemed priceless and declared as belonging to world cultural heritage. And the greatest credit for this belongs to Dr Miomir Korać (born 1952) and his team of associates. This interesting scientist gained the nickname of Indiana Jones long ago, in response to which he admits: “I like Indiana Jones, but he is just nice fiction. Archaeology is a science that moves in a different direction. It is an expensive science, time-consuming, and it is very important where you place so-called probes, in order for them to be as close as possible to the object being sought.” Anyone who has ever toured Viminacium and been hosted and guided by Miško, as he is known to everyone, has been truly fortunate. And the author of this article is among those lucky ones. In a desire to present him as accurately as possible to CorD readers, I took him back to his earliest childhood memories. “My childhood is one that everyone would desire. In a Montenegrin family, after three girls, I was the fourth child and the first boy. Alongside my three sisters, my feet never touched the ground. And my parents only asked one thing of me: to study!” And his parents were Montenegrins – his father hailed from the area around the town of Berane, from the mountainous part, but he was atypical because he didn’t nurture the cult of a male successor, but rather gave all his children equal attention. As a military economist, he changed 39 garrisons, which is how his son Miomir ended up being born in the Kosovo town of

february

Gjilan. He wasn’t even six months old when they moved to Kragujevac, and subsequently to Belgrade. He has never returned to Gjilan, which he remembers only through stories, but he believes that he’ll visit it again one day. His mother was originally from the tranquil Zeta valley, and Miško thinks that he’s reconciled that which was impetuous and serene in his parents. “I was a good pupil; I studied diligently throughout my schooling. After

Viminacium was bigger than Pompeii by a third. However, unlike us, the Italians have already been excavating that city for 300 years completing the Second Belgrade Gymnasium High School, I was supposed to fulfil their expectations. And they, like the majority of parents, wanted their son to be a doctor, to be able to treat them when they became elderly. However, they instilled in me a love for art, for architecture, for antiquities. That’s because they took us to visit cultural monuments when we were children, they had all the pub-

lications of the Serbian Literary Cooperative in the house and, in a way, they channelled me towards the other side. I remained indebted to them because I didn’t fulfil their wishes, but that debt was repaid by my daughter, Nina, who has completed medical studies and is a doctor. Her and my son Vanja each gifted me a grandchild: Pavle and Sara. I’m really a lucky man to have them all.” He has spent more than 40 years married to Ana, a librarian who moved from Belgrade’s Professor’s Colony to New Belgrade. “We were students when we met, wed and received our son, Vanya, who earned his doctorate and works at the Mathematical Institute. Those student days were also the first years of our married life, the years of our biggest sacrifices. In the evenings, when you put the child to bed and your heart sleeps, you have to study. It’s only today that I have time to head down to the neighbourhood café with Ana each morning, and to start our day in the most beautiful way by enjoying a cappuccino.” He was a good student, with a grade point average of 9.10. That average could have been even higher if his results hadn’t been spoiled by a seven

in Marxism, or some similar subject that no longer exists. It was after his studies that Nina was born, who is today a doctor working at the Institute of Blood Transfusion. They deliberately gave their children short names, so that they wouldn’t be shortened however anyone saw fit, and so that they wouldn’t be mumbled. He knew what he wanted to do from the moment he enrolled in archaeology. “I wanted to deal with research, provided I could go to the Archaeological Institute, and I didn’t want to remain at the university. My then professors didn’t forgive me for that, but I nonetheless have fond memories of them. I was fortunate that my professors were Milutin Garašanin and Dragoslav Srejović, two professional and intellectual rocks. I didn’t even go to an excavation with Professor Srejović, but he made an immeasurable contribution to our archaeology. I can say: Professor Dragoslav Srejović, then three spears, and then all the rest of us. Those professors taught me that archaeology isn’t a science of sensationalism. It is perhaps only a sensation at the finale, but prior to that finale there must be years of work on fragments – literally on fragments of vessels to fragments of knowledge. That might ultimately be a sensation for others, but for me it’s just a road that I’ve traversed.” He might be celebrated for his work at Viminacium, but his first encounter

with this archaeological site wasn’t a memorable one. “As a student, I was in a group that went to Đerdap, while another group went to Viminacium and was the envy of everyone, which hinted at the future importance of this locality. And Đerdap, as a locality, was pure magic for me. After spending several years at Đerdap, at the moment when I landed a job at the Archaeological Institute, I was invited by my colleague, Dr Ljubica Zotović, to join the archaeological team at Viminacium. That was an honour and I quickly adapted to this place that wasn’t as magical as Djerdap. It is primarily a huge field job.” Miomir has remained at Viminacium since first arriving back in 1981, and his dedicated and continuous work has led to him being celebrated both

Trajan’s column to the god Danubius

We confirmed 21 structures under the ground. The feeling is fantastic when you observe objects in the ground and then dig exactly where you need to in the country and around the world. There is no data on any other great archaeologist in Serbia having remained in one location for more than 40 years as he has done. And he doesn’t fail to make mention of those who preceded him there: Professor Mihailo Valtro-

Roman ship

vić, founder of the Belgrade School of Archaeology, who carried out the first research work at Viminacium back in 1882. Two decades after Valtrović, research at this site was resumed by Professor Miloje Vasić. Over a full 15 years, Viminacium won over Miško, only for him to take over the management of Viminacium in 1997. Prior to that, most of his work related to researching the necropolis. The team excavated 14,000 graves, representing the largest number of Roman Empire graves ever excavated. This work yielded valuable data and brought important results. “I’ll explain that to you with examples. For instance, we find a doctor’s tomb containing two boxes. In one of them are medicines, while in the other are the instruments with which he performed interventions - scalpels, hooks, needles and various other things that indicate that he was a military doctor, an ophthalmologist. You continue to study and receive information about how developed health services were at that time. We later discovered that Viminacium had been divided into quarters and that each quarter had had a doctor. Let’s not forget that Viminacium was the capital of Upper Moesia, representing an urban area that was inhabited by around thirty thousand people, which is equivalent to today’s Belgrade. It had plumbing, sewers, running water coming in, thermal baths etc., everything characterising urban life. Every change in the way they buried their dead testifies to a shift in the way the people lived.”

cordmagazine.com

The graves always contain a Roman coin to pay Charon the ferryman for passage to the other world; a ceramic or metal oil lamp to light the way; three vessels containing water, wine, and oil for the journey to the other side of the river Acheron. After exploring everything related to the underworld, Korać had a desire to explore the city where the people had lived. “After the year 2000, I formed a multidisciplinary team comprising mathematicians, geophysicists, electrical engineers etc. We procured certain devices, such as a ground penetrating radar, magnetometer, GPS with sub-centimetre accuracy... Our aim was to use these instruments to detect ancient objects underground as quickly as possible. We achieved this with the help of satellite, aerial and geographic imagery and began exploring. We confirmed 21 structures under the ground. The feeling is fantastic when you observe objects in the ground and don’t dig to the left or the right, but rather save time and money by digging exactly where required. When we discovered these monuments, we immediately covered and presented them, and that’s how the first Archaeological Park in Southeast Europe was established in 2006. In 2011 we constructed the Domus scientific research centre, cover-

february

ing an area of over 5,000m2. We also built the LIMES park – a children’s educational and sports camp – in 2018.” Everything boils and bubbles just 20 centimetres beneath the ploughed fields. There are plazas, temples, amphitheatres, theatres, thermal baths, a hippodrome, the imperial palace, coin mint... an entire city. The broader territory of the city covers an area of 450 hectares, while the narrower urban hub covers 220 hectares. In order to form a more accurate picture of the size of Viminacium, it is sufficient to note that it was bigger than Pompeii by a third. However, unlike us, the Italians have already been excavating that city for 300 years.” There are several objects that have been discovered, covered and are currently accessible to visitors. One of

Left: Archaeology team, 1981 Top: Classmates from the 2nd Belgrade Gymnasium high school

Under the ground are plazas, temples, amphitheatres, theatres, thermal baths, a hippodrome, the imperial palace, coin mint... an entire city them is a mausoleum with dimensions of 20 by 20 metres, which probably contains the remains of emperor Hostilian from the mid-3rd century. One feels a special thrill when entering tombs at a depth of five metres that

have been decorated with paintings, the discovery of which is explained by CorD’s interlocutor. “It was one balmy afternoon in 1983 when we began investigating the third level of the Viminacium site. An image of a young woman began to be revealed in front of our eyes, which represented a frescoed tomb. It was a masterpiece of the art of late antiquity that we discovered after 1,700 years. The fresco presents a young woman from the top social strata (her brocade dress is trimmed with gold) and in terms of artistic value represents the highest level of the fine art of late antiquity.” Alongside his own children, Miško also mentions that he has around 30 ‘adopted’ children: 17 of them are science PhDs and 12 are doctoral students, and he has invested a lot in them professionally, with a desire for them to continue their joint work and to do so better than him. Some of them were included in last summer’s team that worked to uncover the triumphal arch, rep-

resenting the latest major discovery in Viminacium. “Explorations of the city’s urban core have been ongoing since the beginning of August. Behind the gate through which the city was entered, we discovered a street that was ten metres wide, and in it you can see the tracks of cart wheels used to travel to the city. That street even had curbs, and we were particularly surprised to discover four foundation slabs made from massive blocks of limestone. It was clear that it was the structure of a triumphal arch, with dimensions that correspond to the triumphal arches discovered in Algiers and Verona. Confirmation then came when we spotted preserved carved letters with the text CAES/ANTO. This meant that the gate had been constructed in honour of Roman emperor Caracalla. Of course, we found columns, pedestals, everything that will be installed and reconstructed. And it will open and become accessible to the public next year. You should also know that, since 2006, we’ve had an Archaeological Park that’s open year-round, with the exception of 1st January. Five or six guides, fluent in several languages, lead the groups and provide indepth information.” Many people suggest that, in addition to his great love for archaeology, Dr Korać also has good luck. When an archaeologist excavates 50 graves over the course of their career, they are considered as being successful, but he excavated 50 graves a day. Together with his associates, he has found more gold than Ali Baba and his 40 thieves could even imagine. And then, in 2009, he also came across a mammoth. On the site of the Drmno surface coal mine, 27 metres underground, the fantastically preserved skeleton of a mammoth was found. It was later named Vicky, due to the assumption that it was a female. No reliable evidence has so far confirmed that it was female, but scientists have determined that it was more than 60 years old upon death, halfway through its expected life. A large team of ex-

perts with the most diverse profiles were engaged, while huge machinery was deployed to move the skeleton to the Viminacium site, in a cave located 30 metres underground. The cave in which Viki has been placed is supported by nine wooden arches and illuminated by sunlight via a special solar system. It should be noted that this mammoth is a million years old, and that only three mammoths with completely preserved skeletons were found worldwide over the course of the 20th century. “I’ve spent so many years at Viminacium and we’ve done so much, but the whole world flocked here when the mammoth skeleton was found. With that already being the case, we endeavoured to turn it into a good tourist attraction, and we also created a children’s park, because that kind of unexpected guest also suits the view of tourism that we’re striving towards. Since 2011, in cooperation with the Ministry of Foreign Affairs of Serbia, finds made at Viminacium have been included in the ‘Journey to the Past’ world tour.” CorD’s interlocutor has received a large number of the most prestigious

Vika the mammoth

The Mona Lisa of Viminacium fresco

Archaeology, as a science, proves that it isn’t at all important to retain some territories, but it is important to preserve material and human resources

domestic and foreign awards and accolades, while he is a member of the German Archaeological Institute, DAI, the world’s oldest and most important archaeological institute. His vast knowledge and rich experience enable him to conclude this interview by noting the following: “ the area between the Alps and the Carpathians is one of the planet’s most creative territories. Lots of evidence exists to support that claim: the first European monumental sculpture in Lepenski vir; the first metallurgists from seven thousand years ago; 18 Roman emperors born on the territory of Serbia etc. That’s why one has to be very careful with that area. Archaeology, as a science, proves that it isn’t at all important to retain some territories, but it is important to preserve material and human resources. “What fascinates me the most personally, as an archaeologist, is the following: from the Neolithic Revolution of 4000 to 5000 BC until the present day, nothing has changed. It was during the Neolithic era that the family became the basic nucleus around which everything is based. And beginning now is a period that will last several hundreds or thousands of years, in which cloning will perhaps bring a new age of civilisation. When a person is without parents, without a family, he will start changing his way of thinking significantly. And that will be the emergence of a new man on the planet.”

cordmagazine.com

Chill Out LOUIS VUITTON TO DEBUT LUXURY HOTEL ON PARIS’S CHAMPS ÉLYSÉES IN 2026 Luxury brand Louis Vuitton is venturing into hospitality with a 2026 Paris hotel near its iconic Champs Élysées store. This move highlights their commitment to expanding lifestyle offerings. The hotel aims to embody the brand’s elegance and sophistication, promising a unique luxury experience. Covering 6000 square meters, it will be situated at 103-111 de l’Avenue, resembling a giant Vuitton briefcase with monogram motifs. This historic endeavour signifies Louis Vuitton’s ambition to diversify beyond fashion. The hotel’s presence is expected to enhance the allure of Champs Élysées, reinforcing Louis Vuitton’s impact on luxury.

MANCHESTER CITY LAUNCHES FOOTBALL SCHOOL IN ALBANIA Manchester City, in collaboration with the Albanian Ministry of Education and Sport, has unveiled plans to open a new Manchester City Football School in Durres, Albania, slated for autumn 2024. his initiative marks a significant stride in Manchester City’s global expansion, emphasising the club’s commitment to grassroots football. The Durres school is the latest addition to Manchester City’s growing network of football schools, which now totals eight worldwide. It aims to replicate the club’s renowned coaching methodology, offering unparalleled football education to its attendees. This move is a testament to Manchester City’s dedication to nurturing young talent globally through world-class training and educational programs.

ICON OF THE SEAS IS THE WORLD’S BIGGEST CRUISE SHIP Royal Caribbean’s monumental project, the Icon of the Seas, made its grand arrival at Port Miami, Florida, in mid-January, marking a two-and-a-half-year endeavour. This colossal cruise liner now reigns as the longest and largest in the industry, capable of accommodating 7,600 passengers comfortably, in addition to its extensive crew. The company’s blog reveals that it boasts a staggering weight of 250,800 tons and stretches 10 feet longer than Royal Caribbean’s 2022 Wonder of the Seas. The Icon of the Seas offers a remarkable array of amenities, including 40 restaurants, three-story townhouses designed for families, a lush park adorned with 33,000 varieties of plants, and a thrilling water park featuring six exhilarating waterslides. Among these slides is an open free-fall slide, touted as the tallest drop slide at sea.

february

CROATIAN LIPIZZANER HORSE BREEDING TRADITION EARNS UNESCO RECOGNITION The hallowed grounds of the Đakovo and Lipik State Stud Farms in Croatia have just been graced with UNESCO charters – a nod to their exceptional efforts in safeguarding the age-old Lipizzaner horse breeding tradition. This prestigious accolade follows Croatia’s proposal to UNESCO to recognise this practice on the esteemed Representative List of Intangible Cultural Heritage. The bestowing of these charters is akin to UNESCO tipping their hat to those stalwarts who have valiantly championed and bequeathed this esteemed tradition to future generations. The ceremony, marked with pomp and splendour, was orchestrated by Djakovo City and the Ministry of Culture and Media as a tribute to this significant milestone. It’s a resounding applause to all those who’ve diligently nurtured this noble heritage and a salute to Croatia for its commendable achievement.

SERBIAN STUDENTS CLINCH DOUBLE VICTORY AT WORLD DEBATING CHAMPIONSHIP Serbian students won multiple categories at the World University Debating Championship in Vietnam. Lazar Popović and Mihailo Babić won in the ‘English as a Second Language’ category, while Đorđe Mirković and Miloš Prokić triumphed in the ‘English as a Foreign Language’ category. Đorđe Radosavljević and Ilija Ivanišević reached the open category finals, ranking among the top four worldwide. Over 700 students from 95 countries participated. The Serbian Prime Minister, Ana Brnabić, has congratulated the team on Instagram.

VENICE INTRODUCES ONE-DAY TOURIST TICKETS Venice has launched one-day tourist tickets following the city authorities’ decision last year. During peak times between 8 am and 4 pm on selected days, visitors must pay a €5 fee. This charge applies from April 25 to May 5 and on weekends until mid-July, excluding July 2 and 3, covering 29 days of high tourist influx. City residents, their close relatives, and children under 14 are exempt. These measures respond to about 3.2 million overnight tourists in 2022, excluding day visitors. Additional restrictions include limiting large tourist groups and loudspeaker use.

cordmagazine.com

FASHION

THE ULTIMATE

Valentine’s Day Gifts As Valentine’s Day approaches, the quest for the perfect gift to express love and affection takes centre stage, guiding shoppers on a heartfelt journey through the aisles of romance

CHOPARD Rose Gold And Diamond Happy Hearts Pendant

CARTIER

Mini Rose Gold and Diamond Tank Américaine Watch 28mm

DOLCE & GABBANA CASA Rose Candle (250g)

VENCHI 1878 Mini Valentine Chocolate Book (105g)

february

MONTALE Roses Musk Eau de Parfum (100ml)

FRAGRANCE DU BOIS New York 5th Avenue Eau de Parfum (100ml)

ZENITH

Chronomaster Sport El Primero

CARTIER Love brace half diamond bracelet

RALPH LAUREN HOME Leather Brennan Frame (8” x 10”)

AMI PARIS Ami de Coeur Cardigan

cordmagazine.com

CULTURE CALENDAR

GALA CONCERT OF THE CHILDREN’S PHILHARMONIC

THE BESTBEAT THE BEATLES TRIBUTE BAND

2 February – mts Arena

10 February – Klub Fest

The Bestbeat takes you on a magical journey through the 1960s and the music of the greatest band of the 20th century. With a repertoire of over 40 songs by Liverpool’s Fab Four, the first Belgrade-based Beatles tribute band captivates even the most die-hard Beatles fans. Whether performing in clubs, theatres, concert halls, festivals, or city squares, this quartet spreads the message of love, peace, and understanding that John, Paul, George, and Ringo shared with millions of listeners worldwide more than four decades ago. To all who believe that “All You Need Is Love,” The Bestbeat declares: “Roll up for the Mystery Tour!”

The traditional concert of the Children’s Philharmonic, titled “Heart Feels Joy,” will be held on February 2nd this year at the MTS Arena in Belgrade, as announced by the organisers. The audience will enjoy famous classics performed by talented young soloists accompanied by the orchestra under the baton of Ljubisa Jovanovic. In addition to classical music, the repertoire will include popular contemporary and film hits and an ethno and jazz program. The Children’s Philharmonic members are talented students from primary and secondary music schools in Belgrade, winners of awards at prestigious domestic and international competitions. Some of the Children’s Philharmonic members have been long-term beneficiaries of the instruments provided by the “Children for Children” foundation, which supports their education and professional development.

TALES FROM THE ORIENT 24 February - Kolarac Luka Faulisi will perform as a soloist in Aram Khachaturian’s “Concerto for Violin and Orchestra in D minor,” a piece characterised by its strong folk rhythm and echoes of traditional Armenian dances. The concert, titled “Tales from the Orient,” will also feature the overture to Alexander Borodin’s famous opera “Prince Igor,” Nikolai Rimsky-Korsakov’s symphonic suite “Antar,” and the spirited and sonorous “Infernal Dance” from Igor Stravinsky’s ballet “The Firebird.” For the first time in the new season, the RTS Symphony Orchestra will be conducted by Aleksandar Marković, one of the most sought-after artists of his generation. 96

february

RECOMMENDS

THE SECRET HISTORY

TOGETHER

Donna Tartt

Jamie Oliver

Under the influence of their charismatic classics professor, a group of clever, eccentric misfits at an elite New England college discover a way of thinking and living that is a world away from the humdrum existence of their contemporaries. But when they go beyond the boundaries of morality, their lives are changed profoundly and for ever. The Secret History is a story of two parts: the chain of events that led to the death of a classmate and what happened next.

Being with our loved ones has never felt so important, and great food is the perfect excuse to get together. Each chapter features a meal - from Curry Night to Last-Minute Feast, Garden Lunch to Autumnal Fare - with a simple, achievable menu that can be mostly prepped ahead. Jamie’s aim - whether you’re following the full meal or choosing just one of over 120 individual recipes - is to minimise your time in the kitchen to maximise the time you spend with your guests.

1336 rsd

3086 rsd

12 RULES FOR LIFE: AN ANTIDOTE TO CHAOS

FOOD & DRINK INFOGRAPHICS

Jordan B. Peterson

Simone Klabin

Jordan Peterson has helped millions of people, young and old, men and women, aim at a life of responsibility and meaning. Now he can help you. Drawing on his own work as a clinical psychologist and lessons from humanity’s oldest myths and stories, Peterson offers twelve profound and realistic principles to live by. After all, as he reminds us, we each have a vital role to play in the unfolding destiny of the world. Deep, rewarding and enlightening, 12 Rules for Life is a lifeboat built solidly for stormy seas: ancient wisdom applied to our contemporary problems.

Amid our ever-growing consumption of data visualisation, nothing makes for tastier morsels than the fine art of food and dining. Ushering the cookbook into the future, this volume gathers together the best infographics of all things eating, drinking, and cuisine, from measurement conversion charts and recipes for cookies and cocktails to stress-free party planning. A must-have for every 21st-century foodie, this is gastro-guidance at its most visually appealing as much as expert.

7208 rsd 1458 rsd

BROKEN CODE

THE ART OF WAR

Jeff Horwitz

Sun Tzu

The inside story of the employees who were brought in to fix Facebook but instead uncovered disturbing problems that made them question whether it was beyond saving. Facebook had a problem. Along with its sister platforms, Instagram and WhatsApp, it was a daily destination for billions of users worldwide, extolling its products to connect people. But as a succession of scandals rocked Facebook in 2016, some began to question whether the company could control, or even understand, its own platforms.

For two and a half thousand years, The Art of War has been the core text of military strategy and planning, providing leaders with enduring insights into tactics, psychology, discipline and the nature of power. Favoured by countless great generals and military tacticians throughout history, over the last century, the book has found a new lease of life, inspiring business leaders, politicians and sporting figures and offering a profound understanding of such diverse topics as managing others and outwitting competitors.

2510 rsd

566 rsd

cordmagazine.com

Faces & Places

Serbia’s First DPM Hosts Diplomatic Community at New Year’s Reception 12/1/2024 First Deputy Prime Minister and Minister of Foreign Affairs Ivica Dačić welcomed members of the diplomatic corps during a New Year’s reception. The event reaffirmed Serbia’s commitment to an independent foreign policy that safeguards national interests while upholding international law. Dačić’s address emphasised Serbia’s long-standing history and people’s dedication to common civilisational objectives. The reception allowed the strengthening of ties with the diplomatic community and highlighted Serbia’s unique role in international affairs. The New Year’s reception served as a platform for diplomatic engagement, underscoring Serbia’s commitment to constructive dialogue and principled foreign policy.

Sao Tome Prime Minister Visits Belgrade 17/1/2024 During his recent visit to Belgrade, Prime Minister Emeri Trovoada of Sao Tome and Principe emphasised the shared goals and promising prospects for cooperation between his nation and Serbia. Following his meeting with Serbian Prime Minister Ana Brnabić, Trovoada underscored the ongoing joint efforts between the two countries. He expressed optimism regarding the realisation of various collaborative projects. Trovoada commended Serbia’s influential presence in Africa and recognised the substantial potential of a strong economic partnership. He emphasised the importance of Serbia’s consistent foreign policy and commitment to mutually beneficial cooperation. Such collaboration, he noted, could yield significant advantages for businesses and entities in both countries. Additionally, Trovoada highlighted the cultural exchange and increased engagement opportunities stemming from EXPO2027. 98

february

The Opening of The 17th Kustendorf Film Festival 23/1/2024 The 17th Kustendorf Film Festival, an international cinematic event, has commenced in Mokra Gora, embracing the theme “Not Surveillance, Cinematography.” In its competitive segment, the festival showcased 17 films. Competing for the coveted Golden, Silver, and Bronze Egg awards, as well as the “Vilko Filač” award for best cinematography, are filmmakers from Serbia, Austria, Finland, Greece, Poland, Sweden, Germany, the USA, Egypt, Mexico, Uzbekistan, North Macedonia, India, Czech Republic, Croatia, and Russia. The international jury comprises Italian writer and journalist Sandro Veronesi, Serbian actress Bojana Panić, and Uzbekistani film director Muzafarkon Erkinov. The “Vilko Filač” award will be decided by Rome’s director of photography, Vladan Radović, and France’s director of photography, Michel Amathieu. The festival’s “Tree of Life” award has been bestowed upon Italian director Matteo Garrone.

Advantage Austria Celebrates New Chapter with Office Relocation Event in Serbia 24/1/2024

Advantage Austria, a trade promotion organisation, relocated its office to a new address in Belgrade, marking a significant milestone. The event was honoured by the presence of Jürgen Schreder, Director of Advantage Austria in Serbia, and H.E. Christian Ebner, the Austrian ambassador to Serbia. The relocation symbolizes a fresh start and a step forward in strengthening economic ties between Austria and Serbia. Advantage Austria supports Austrian businesses and promotes investments in Serbia, advancing economic growth and prosperity.

cordmagazine.com

Faces & Places

Serbia Unveils Hitler’s WWII Directive 24/1/2024 Director of the Museum of Genocide Victims, Dejan Ristić, has received from Prime Minister Ana Brnabić the original document of Directive No. 25. This directive, issued by German Chancellor Adolf Hitler on 27 March 1941, commanded the attack on the Kingdom of Yugoslavia and the Kingdom of Greece. It will be displayed at the National Museum of Serbia until 18th February 18th. This first-rate historical source will be permanently preserved in the Museum of Genocide Victims, thus entrusted to all future generations, as announced by the government. It also represents the first public exhibition of one of the most significant historical sources of the entire national past of the Serbian people and our entire region.

Three-Day “Privacy Week” Conference Held 24/1/2024 In marking International Privacy Day, the non-governmental organisation Partneri Srbija inaugurated the three-day conference titled “Privacy Week.” Under the slogan “Choose Privacy,” the event spotlighted privacy and personal data protection issues. It features discussions with experts from the civil, private, and public sectors, focusing on informing the public about the challenges in privacy protection and exploring opportunities for its enhancement. The conference kicked off with introductory speeches from notable dignitaries. Among the speakers were Jan Bratu, Ambassador and Head of the OSCE Mission to Serbia; Bart de Brujin, Coordinator of the Regional Rule of Law Network at the Embassy of the Kingdom of the Netherlands in Serbia; Eline Våge, Secretary at the Embassy of the Kingdom of Norway in Serbia; Miodrag Milosavljević, Executive Director of the Open Society Foundation Serbia; and Ana Toskić Cvetinović, Executive Director of Partneri Srbija. 100

february

Italian Ambassador Hosts “Friends of the Western Balkans” Working Group 24/1/2024 Italy’s Ambassador to Serbia, H.E. Luca Gori, hosted a Working Group “Friends of the Western Balkans meeting.” His counterparts from Austria, Croatia, Greece, the Czech Republic, Slovakia, and Slovenia attended, along with the head of the EU Delegation and a representative from the World Bank in Belgrade. In preparation for an upcoming ministerial meeting in Rome, the meeting focused on Serbia’s progress in the EU accession process and the available tools to expedite this journey. Additionally, participants considered the opportunities presented by the EU’s “Growth Plan” and discussed related matters addressed during a recent event in Skopje. This collaborative gathering highlighted efforts to support Serbia’s path toward EU membership and foster regional cooperation.

Exhibition “Artisans and Youth for Heritage” Opening 25/1/2024 The 10th jubilee exhibition of miniatures, “Artisans and Youth for Heritage”, celebrated Serbia’s cultural heritage and women’s empowerment. The opening at SAVA CENTAR featured Goran Vesic, Minister of Construction, Giles Norman, Canadian Ambassador, and Nikola Vuletic, CEO of UniCredit Bank Serbia. Supported by the Embassy of Canada, NALED, and corporate partners, Federal Handicraft producers Etno Mreza’s event commemorating 20 years showcased “A Hundred Women - A Hundred Miniatures.” This competition, unique in Serbia, empowers artisans to preserve the nation’s cultural heritage. The renovated SAVA CENTAR unveiled a Serbian lounge with Pirot kilim motifs and traditional miniatures. Sava Center, Telekom Srbija, Rio Tinto, Gorenje, GSI, and UniCredit bank sponsored the event, reinforcing Serbia’s cultural preservation and empowerment commitment.

cordmagazine.com

101

Faces & Places

German-Serbian Chamber Hosts Annual Gala 25/1/2024 In a significant event marking the strengthening of German-Serbian economic ties, the German-Serbian Chamber of Commerce (AHK Serbia) hosted its annual gala under the theme “Green is The New Art.” The night’s focus was the joint commitment of both nations to the green agenda, particularly in developing renewable energy sources and enhancing energy efficiency. Germany has established a strategic climate action partnership with Serbia and the Western Balkans, underlining the shared responsibility towards the planet and future generations. AHK Serbia’s President, Milan Grujić, highlighted the Chamber’s role in representing over 440 member companies with over 100,000 employees. He emphasised the event as a step towards embracing change for a better world.

India Marks 75th Republic Day in Belgrade 26/1/2024 The Embassy of India in Belgrade celebrated its 75th Republic commemorating the adoption of the Indian Constitution in 1950. The event, hosted at Hotel Hyatt in Belgrade, was led by Ambassador H.E. Shubhdarshini Tripathi and attended by about 150 guests. The Guest of Honour was Tomislav Momirovic, Minister for Internal and Foreign Trade. The reception saw the participation of prominent local Indian community members, diplomats, Serbian government officials, and representatives from business, culture, and media. A highlight of the evening was a classical Indian dance performance by students of Panna Dance School. Ambassador Tripathi, in her address, emphasised the growing, historical ties between India and Serbia, marking the 75th anniversary of their diplomatic relations. 102

february

SPECIAL EDITION 2024

JAPAN

Forging the Future

HYBRID ELECTRIC PLUG-IN HYBRID

NEW TOYOTA C-HR Average fuel combined consumption for Toyota C-HR hybrid: 4.7 to 5.1l/100km, CO2 emissions: 105 to 106 g/km, NOx emissions: 0,0036 to 0,0049g/km. Official exhaust emission level EURO 6. More detailed information on new passenger vehicles can be found in the Guide to Fuel Economy, CO2 Emissions and Air Pollutants, which is available free of charge from the passenger vehicle supplier’s point of sale. CO2 is the main greenhouse gas responsible for global warming. Emissions of polluting substances into the air from traffic significantly contribute to the deterioration of the air condition, especially the cross-border elevated concentrations of ground ozone, particles PM10, PM2.5 and nitrogen oxides. For all details visit www.toyota.rs or contact Toyota retailers.

EVERY CHOICE COUNTS

Content 23 V UKAŠIN

RADULOVIĆ

partner at Heliant Medicine is Facing Transformation

18 M ASAHIRO UEKI

JICA Balkan Office Chief Representative Sharing Japan’s Rich Development Experience

08 COMMENT

BJELETIĆ

Director, Alpha Imaging Knowledge in the Service of Better Diagnosis

26 O LIVER

Forging Futures

LEPORI

Executive Director of the Japanese Business Alliance in Serbia Cooperation Takes Centre Stage

10 H .E. AKIRA IMAMURA

Ambassador of Japan to Serbia Farewell “Japanac”

24 P REDRAG

14 G ORAN PEKEZ

BoD Chairman of the Japanese Business Alliance in Serbia Comprehensive Green Transition Support

20 L INAS LIBIKAS JTI General Manager for the Western Balkans Exploring Excellence

22 N IKOLA

PAVLOVIĆ

Konica Minolta Serbia Managing Director Greatest Achievements Yet to Come

EDITOR IN CHIEF Neda Lukić n.lukic@aim.rs DESIGN Slađan Radosavljević Zoran Perović design@aim.rs PHOTOS Zoran Petrović COPY EDITOR Mark Pullen

PROJECT MANAGERS Biljana Dević b.devic@aim.rs Mihailo Čučković m.cuckovic@aim.rs Nataša Novković n.novkovic@aim.rs OFFICE MANAGER Svetlana Petrović s.petrovic@aim.rs FINANCE Dragana Skrobonja finance@aim.rs

EXECUTIVE DIRECTOR Maja Vidaković m.vidakovic@aim.rs CEO Ana Novčić a.novcic@cordmagazine.com PUBLISHER Ivan Novčić i.novcic@aim.rs

PRINTING Rotografika d.o.o. Segedinski put 72, Subotica JAPAN 2024 Published by: alliance international media Prote Mateje 52, 11111 Belgrade 17, PAK 125806, Serbia Phone: +(381 11) 2450 508

E-mail: office@aim.rs; office@cordmagazine.com www.aim.rs; www.cordmagazine.com ISSN: 2560-4465 All rights reserved alliance international media 2023 The views expressed in this publication are those of the presenter; they do not necessary reflect the view of publications published by alliance international media THIS PUBLICATION IS FREE OF CHARGE

JAPAN 2024

Japan 2024 30 B ILATERAL TRADE & INVESTMENT Serbia Attracts Japanese Giants

38 J BAS ACTIVITIES 2023

34 S ETSUKO THURLOW

A Life of Resilience, Activism, and Achievement

cordmagazine.com

42 E XPO 2025 OSAKA, KANSAI

A Glimpse into the ‘Reconnect the World’ project

COMMENT

Forging the Future How are success stories crafted? They emerge through the collective efforts of individuals who share common ideas and values. Japan’s Western Balkans Cooperation Initiative, inaugurated in 2018 by late Prime Minister Shinzo Abe, exemplifies such a narrative, yielding lasting results that possibly surpass the expectations of its founders

JAPAN 2024

apan and Serbia maintained robust bilateral relations for a considerable period, yet they seemed an incongruent pair when it comes to economic cooperation. The Japanese economy and companies were significantly more advanced, while their Serbian counterparts lagged behind. Today, by leveraging Japanese expertise and Serbia’s capacity to adopt advanced solutions in the green transition, there are numerous discussions and ventures to be explored at the levels of the state, companies and civil society.

Japan and Serbia could forge more successful collaborations by capitalising on Japan’s expertise and Serbia’s potential in green transition and beyond While the green transition is pivotal, it is not the exclusive realm of cooperation. Discussing the success of Japanese companies in Serbia, the Japanese ambassador suggests that new ventures might not be surprising. Many institutions, associations and individuals, motivated by goodwill, contribute to the successful collaboration between Serbia and Japan, spanning everything from academia to innovation and sustainable environmental initiatives. One notable collaboration is the engagement of JICA (Japan International Cooperation Agency) in the Western Balkans

cordmagazine.com

and Serbia. However, due to limitations of space, we have only been able to provide a brief overview of the plethora of activities in which JICA is involved. Collaboratively, JICA, the Japanese Embassy in Serbia, and JBAS (Japan Business Alliance of Serbia) work to fortify cooperation between Japanese and Serbian businesses. Areas of potential future cooperation encompass exchanges of knowledge, technology transfers and experience in developing the institutional framework required for green solutions. Notably, Japanese companies, unlike other foreign investors, are currently less engaged beyond Vojvodina. However, clear prerequisites for Japanese expansion in Serbia include excellent infrastructure and a skilled workforce. With robust investments in Serbia’s infrastructure and vocational training, hosting Japanese investments on the other side of the Sava may become a reality over the next few years. Prior to this, Japanese interest may align with other states and companies supporting the development of EXPO 2027, representing one of Serbia’s most advantageous development plans. It was 20 years ago that Serbia received 93 Yellow buses from Japan, which came to symbolise both Japan’s support and Serbia’s vulnerabilities at the time. As highlighted by current Japanese Ambassador in Belgrade, H.E. Akira Imamura, Belgrade and Serbia have since made significant strides and today marks the dawn of new dreams and plans.

INTERVIEW | H.E. AKIRA IMAMURA AMBASSADOR OF JAPAN TO SERBIA

Farewell “Japanac” The 93 yellow buses that were donated by Japan to the City of Belgrade in 2003, and which are affectionately referred to as “Japanac” [Japanese guy], have become well known to Belgraders over the 20 years that they’ve remained in use, thanks to the care and maintenance they’ve received. That’s why the Japanese Embassy in Belgrade awarded a 2022 Ambassador’s Commendation to a service engineer from the Public transport Maintenance Department based in New Belgrade. “It is a pity that these “Japanac” buses, which have come to symbolise friendship between the two countries, are heading into retirement, but it would be nice if we could organise an event, in cooperation with the City of Belgrade, to thank them for their many years of service” ~ Akira Imamura By Ljubica Gojgić

hile these attractive yellow buses, which have for two decades represented one of the most visible symbols of the friendship between Japan and Serbia, are being decommissioned, Japan’s new ambassador to Serbia discusses plans to continue bilateral cooperation with Serbia. Ambassador Imamura reminds us that numerous Japanese companies have also arrived in Serbia during these past 20 years, with the country’s close proximity to the EU market, as well as its “excellent human resources”, having attracted Japanese

investors. Apart from auto parts companies that supply the automotive industry in the West, Japanese companies operating in the IT, pharma and energy sectors are also interested in cooperation with Serbia... And the story of city transport buses hasn’t necessarily come to an end either, as Ambassador Imamura explains in this interview for CorD Magazine. “I am sure that Belgrade will work more on the provision of sustainable and eco-friendly public services, including transportation, and there are Japanese companies that are ready to provide a contribution.” JAPAN 2024

Your Excellency, you arrived last summer to begin your term as ambassador of Japan in a city that you first got acquainted with back in 2004. How does today’s Belgrade look to you and how are you acclimatising to life in Serbia? — I visited Belgrade briefly on a business trip in 2004. Compared to that time, today’s Serbia has today achieved significant economic development. The change I felt most strongly was the increase in the number of skyscrapers and shopping centres. I was particularly surprised by the scale of the redevelopment of the Sava river Waterfront. The number of foreign companies, including Japanese firms, has also been increasing. I am happy to see this as proof that peace has taken root in Serbia and that the investment environment has improved greatly. My wife and I have been in Serbia for six months now, and we have got used to life in Serbia. We heard that the theme of Expo 2027 in Belgrade is “Power of Play, Play Music, Play Sports”, which I think is a perfect theme for Serbia. The other day we also enjoyed traditional Serbian music at a kafana tavern. We are visiting many places in Serbia in order to better understand the history and culture. We saw the cultural rise of medieval Serbia at the Studenica Monastery and learned the history of the Karađorđević dynasty at Topola. People in Serbia are friendly. I have a lot of opportunities to meet people from various fields and we are able to exchange opinions very openly. In particular, I feel as though there are many capable people in Serbia who are fluent in English, which makes communication easier. You’ve said that you will focus on implementation of Japan’s Western Balkans Cooperation Initiative, which was launched in 2018 by late Prime Minister Shinzo Abe. Which specific projects will you insist on? — Late Prime Minister Abe launched “the Western Balkans Cooperation Initiative” during his visit to Serbia in 2018. It consists of two pillars: support for reforms in the Western Balkans, including Serbia, toward EU accession; and the promotion of regional cooperation. Six years after its launch, this initiative has become even more effective as the region is developing. Speaking of the first pillar, support for reforms toward EU accession, Japan wants a strong and united Europe, as the EU is our strategic partner. Serbia’s accession to the EU is important for the stability and prosperity of Europe as a whole and the international community. In order to support this process, Japan has been implementing the SME Mentoring Programme in the Western Balkans for many years, aimed at improving the governance of SMEs using Kaizen methods and othcordmagazine.com

EU Speaking of the support for reforms toward EU accession, Japan wants a strong and united Europe, as the EU is our strategic partner

INVESTMENTS The success of these Japanese companies in Serbia has attracted the interest of other Japanese companies and I would expect further investments to follow

MEDIA Japan learned from our own mistake and achieved a mature and stable postwar democracy in which the media play a crucial role; the media has even been called the fourth branch of power

er approaches. Investments by Japanese companies also contribute to Serbia’s economic development and political stability, and Japan has been supporting them as it contributes significantly to creating the necessary conditions for Serbia’s EU accession. In the political field, we assisted in conducting a seminar in November last year for Serbian media representatives on media reform, which is one of the challenges facing Serbia’s accession. In the second pillar of the Western Balkans Cooperation Initiative, various efforts are being exerted to promote regional cooperation. From the second half of this year, a Japanese expert will be sent to Serbia to strengthen cooperation among the countries of the region through the promotion of tourism. The project aims to promote tourism in the Western Balkans by providing advice on tourism strategies, training relevant personnel, promoting knowledge and sharing experience within the region, as well as implementing pilot projects. Tourism development is also aligned with the Open Balkan initiative advocated by President Vučić, as it promotes mutual understanding in the region and encourages people-to-people exchanges. You’ve noted that high-level political and economic visits will contribute to strengthening bilateral relations in the period ahead. Could you tell us about any specific plans? — Over recent years, the visits of high officials between the two countries has become more active: Prime Minister Abe’s visit to Belgrade in 2018, accompanied by representatives of the Japanese business community, led to the expansion of bilateral relations, including increases in new Japanese investment. From the Serbian side, Prime Minister Brnabić has visited Japan twice: to attend the Ceremonies of the Enthronement of His Majesty the Emperor (2020) and to attend the state funeral of Prime Minister Abe (2022). They were followed by last year’s visit of Ms Đedović Handanović, Serbian Minister of Mining and Energy. Since Foreign Minister Kono visited Serbia in 2019, we believe it would also be possible for the Serbian Foreign Minister to visit Japan this year. Inter-parliamentary exchanges are also important. Current Japanese Foreign Minister, Yoko Kamikawa, visited Belgrade in 2019 as a member of the Japanese parliamentary delegation to the IPU Congress held in Belgrade. When the parliamentary friendship group for Japan is established at the Serbian National Assembly, following the elections held last December, we would like to promote exchanges with its Japanese counterpart. Multiple Japanese companies operate in Serbia, which they find interesting thanks to its 11

close proximity to the European single market. Have their experiences prompted other companies to contact you for advice and to enquire about whether to invest in Serbia? — The recent increase in investment in Serbia by Japanese companies is due not only to geographical characteristics, i.e., to Serbia’s proximity to the EU market, but also to the fact that Japanese companies highly value the Serbian government’s policy of actively promoting foreign investment and its excellent human resources, with high language skills. Some examples of large investments by Japanese companies in recent years include Toyo

Serbia is planning to participate in the OsakaKansai Expo in 2025, which is expecting to attract 28 million visitors. This will provide an excellent opportunity for Serbia to promote the attractiveness of the country Tires’ plant in Inđija, opened in December 2022, and Nidec’s plant in Novi Sad, opened in May 2023. As they showed, automotive-related investments are continuing to rise. This is partly due to the German auto industry’s request to its suppliers to produce auto parts around Europe in order to avoid supply chain risks triggered by the Covid-19 pandemic and other factors. The success of these Japanese companies in Serbia has attracted the interest of other Japanese companies and I would expect further investments to follow. Which areas of the Serbian economy are of the most investment interest to Japanese companies? — As I just mentioned, interest in automotive-related areas is prominent, but other areas – such as the renewable energy sector – are also promising. In Vinča, Japanese and French compa-

nies are jointly investing in the Belgrade Energy-from-Waste Project, which aims to generate electricity by utilising waste from Belgrade households, with the goal of covering 10% of the heat needs and 5% of the electricity demands of the city of Belgrade. There is also potential in the biotech and IT sectors, which the Serbian government is focused on. Takeda Pharmaceuticals has already signed an MoU with the Serbian government for research on AI-based diagnostic technology for rare diseases, as part of the Bio4 Campus Project. Many people point out that Japanese investment will not only transfer technology, but will also bring corporate ethics, corporate culture and the concept of corporate social responsibility, including environmental protection. It will thus contribute to the development of the human resources required for Serbia’s sustainable development and EU accession. I understand that President Vučić is also fully aware of the importance of high-quality investment. Our Embassy, in cooperation with the Serbian government, would like to support the enhancement of the investment environment and promote further investments by Japanese companies. You obviously pay great attention to supporting the media, via the Japan International Cooperation Agency, JICA. You are supporting the work of RTK in Pristina, particularly the channel broadcasting in Serbian, while you recently also organised a gathering with media representatives in Belgrade to discuss election reporting. Do you have the impression that many of the challenges confronting journalists are the same in both countries? — Japan has been supporting Serbia in its various reforms toward EU accession, and as part of this support, a seminar on media freedom during election campaigns was held in Belgrade last November. We chose the topic of media freedom because it is one of the cornerstones of democracy, in the belief that Japan’s experience would be beneficial to Serbia’s reforms. Talking about Japan’s democracy, we witnessed its development in the 1920s, but it was disrupted in the 1930s due to the rise of militarism, and we paid a huge price by resorting to war. Japan learned from our own mistake and achieved a mature and stable postwar democracy in which the media play a crucial role; the media has even been called the fourth branch of power. However, as JICA Senior Advisor Keiichi Hashimoto, a former journalist, noted at this seminar, the Japanese media hasn’t always been perfect in terms of media reporting on elections. There were cases of politically biased reporting during pre-elecJAPAN 2024

tion periods, which became a problem afterwards. As discussed in the seminar, it is important for the media of any country to be impartial on political opinions and to report facts objectively. JICA is implementing a project to support the public broadcaster, Radio Television Kosovo (RTK), by establishing branch offices in Prizren and Mitrovica, developing internal standards for fair and unbiased programme production, including broadcasts in the Serbian language, and utilising an archive system to accumulate video material that can be used for programme production. The city transport buses that were donated by Japan and have served, for the past 20 years, as one of the most recognisable symbols of the friendship between the two nations are set to disappear from the streets of Belgrade soon, as they begin a well-deserved retirement. Are you ready to send them on their way? — The 93 yellow buses donated by Japan to the city of Belgrade in 2003, which are affectionately referred to as “Japanac”, have been well known among Belgraders and have been in use for 20 years thanks to their careful use and maintenance. In 2022, the Japanese Embassy awarded the Ambassador’s Commendation to a service engineer belonging to the Maintenance Department at the garage in New Belgrade. It is a pity that “Japanac” buses, as symbols of friendship between our two countries, are going to retire, but it would be nice if we could organise an event in cooperation with the Belgrade City government to thank them for their many years of service. I am sure that Belgrade will work more on the provision of sustainable and eco-friendly public services, including transportation, and there are Japanese companies that are ready to make a contribution. In three years, Belgrade is going to attract people from all over the world for the 2027 Expo, and we would like to support Belgrade in showcasing its sustainable development efforts. You will have noticed that Japanese pop-culture is popular among young people in Serbia, while the people of Japan know about Serbia’s Piksi and Novak Đoković. Do you plan to expand the sphere of mutual recognition and what would you like to present in Serbia from Japan and vice versa? — I have met many fans of Japan in Serbia and am pleased to see the popularity of Japanese pop-culture, such as anime and manga, especially among young people. We are aware that many of them are interested in learning the Japanese language. For them, e-learning site Minato is a perfect tool for studying the Japanese language. Please check it out. cordmagazine.com

On the other hand, I also feel that both traditional and contemporary Japanese culture are not yet fully understood in Serbia. In terms of traditional culture, we hope that cultural activities that are popular in Japan, such as tea ceremonies and ikebana flower arrangement, will become more familiar to the Serbian people. In the area of contemporary culture, we would like to introduce more Japanese movies and literature. The Embassy of Japan organises cultural events throughout the year across various parts of Serbia, so I would like to encourage people to visit our events. Serbia is known in Japan as a country that’s good at sports. Japanese martial arts, such as karate and judo, are also popular in Serbia. I find that the spirit of Japanese martial arts, which is to show respect even to competitors, is widely shared in this country. In addition to martial arts, we hope to increase sports exchanges through sporting organisations in our countries. When it comes to the food culture in Japan, you can buy Serbian dishes mućkalica and paprikaš in boil‐

Many people point out that Japanese investment will not only transfer technology, but will also bring corporate ethics, corporate culture and the concept of corporate social responsibility, including environmental protection in‐the‐bag style. The Serbian Embassy in Tokyo provided advice on their production. There are a number of spa facilities in Serbia that are similar to Japanese “onsen”, but they are not so well recognised in Japan. On the other hand, Serbia is planning to participate in the Osaka-Kansai Expo in 2025, which is expecting to attract 28 million visitors. This will provide an excellent opportunity for Serbia to promote the attractiveness of the country. I also hope that Serbian people will take this opportunity to visit Japan more often and experience the real Japan. Young people can take a “pilgrimage” to see their favourite anime and manga (i.e., to visit the locations of scenes in manga and anime) and something they have heard or read about related to Japan. I would like to exert every effort to further develop the friendly relations between our two countries as we approach 2032’s 150th anniversary of the friendship between Japan and Serbia. 13

INTERVIEW | GORAN PEKEZ BOD CHAIRMAN OF THE JAPANESE BUSINESS ALLIANCE IN SERBIA

Comprehensive Green Transition Support Collaboration between Serbian and Japanese companies can offer not only technological solutions, but also transfers of knowledge, workforce training and capacity building for the local industry in the field of the green economy he Japanese Business Alliance in Serbia (JBAS) last year dedicated much of its efforts to furthering the green transition, which should come as no surprise given that many JBAS member companies are interested in providing innovative solutions for Serbia’s green economic transition. We spoke with JBAS Board of Directors Chairman Goran Pekez to discuss what Japanese companies can offer specifically in this domain. “Japanese companies can provide a significant contribution to Serbia’s green economic transition through their innovative technologies, sustainable energy expertise and experience in the efficient management of resources,” explains our interlocutor. “JBAS members are leaders in renewable energy sources like solar, wind and hydroelectric power plants. Their technological solutions can help Serbia reduce its dependency on fossil fuels and contribute to a cleaner energy sector.” Pekez also notes that Japanese expertise in optimising energy systems and smart energy consumption solutions can assist Serbia in reducing greenhouse gas emissions and increasing its energy efficiency. Furthermore, Japanese companies are known for their high-quality infrastructure and can offer sustainable solutions for the construction and management of green infrastructure, including smart cities, sustainable transportation systems and environmentally friendly urbanisation. Japan also has successful recycling and waste management programmes. And, as Pekez explains, “sharing this knowledge with Serbia can help reduce the environmental impact and promote sustainable waste management practices. Collaboration with Japanese companies can provide not only technological solutions, but also transfers of knowledge, workforce training and capacity building for the local industry in the field of the green economy. Establishing partnerships and exchanging experiences is crucial to achieving sustainable economic growth that has a min-

JAPAN 2024

imal impact on the environment and respects all other ESG (Environmental, Social and Governance) pillars that are integral to doing business.” From the JBAS perspective, is the institutional framework for Serbia’s green transition well-established, and what would you advise as good solutions based on Japanese experience? — From the perspective of Japanese experience, several key aspects could prove useful when developing an institutional framework for the green transition. Having a stable and clear regulatory framework is crucial to attracting investments in renewable energy and other environmentally sustainable projects. Transparency and predictability encourage long-term planning and investments. Encouraging the transition to renewable energy through various subsidies, tax incentives, or feed-in tariffs can serve to accelerate the green transition process. Public-private partnerships play a crucial role in the successful implementation of the green transition. Collaboration between the government, private companies and research institutions can contribute to achieving sustainable development goals efficiently. Investing in education and raising awareness of sustainability is important to support behavioural change and create a supportive atmosphere for sustainable practices among the population and the business sector. Promoting innovation in the green energy and sustainability sector can be achieved through support for research and development and technological incubators, but also incentives for startups in these areas. Sharing experiences with other countries, including Japan, can provide valuable information and support in crafting effective green transition policies. These guidelines can serve as a foundation for building a strong institutional framework in Serbia, taking into account the specificities of the market and the needs of the local economy. In order to achieve sustainable economic growth, it is essential to strike a balance between stimulating investment and preserving ecosystems. How would you assess the performance of your association’s members in 2023, and what are JBAS’s plans for 2024? — We are pleased with the achievements of our members in 2023. Persistence and dedication have led to significant accomplishments in various sectors. There is a noticeable continuing focus on innovation, sustainable business practices and social responsibility. cordmagazine.com

BALANCE In order to achieve sustainable economic growth, it is important to strike a balance between stimulating investments and preserving ecosystems

COLLABORATION I believe that, together with the Embassy of Japan in Serbia and organisations like JETRO and JICA, we will continue strengthening the friendship between our two countries and serve as a bridge connecting the two nations

INVESTMENTS The latest Japanese investments in Serbia focus primarily on sectors like renewable energy, energy efficiency, sustainable infrastructure and technologies that support environmentally friendly practices

Despite the challenges brought by the global economic situation, our association’s member companies have shown a high level of adaptability and flexibility. Many of them have recognised the need for an accelerated transition to sustainable business practices, leading to the implementation of numerous innovative solutions. Our association’s focus in 2024 will continue to strengthen sustainable business practices and support our members in achieving their sustainability goals, in line with the latest sustainability standards. We plan to intensify initiatives that support our members in reducing their environmental footprint, promoting social responsibility and enhancing innovation. Additionally, JBAS will continue to work on strengthening the existing ties between our members, by creating platforms for knowledge exchanges and supporting joint projects. We also plan to organise a series of events, conferences and educational programmes to enhance the knowledge and skills of our members. We believe that 2024 will be a crucial year for the further development of our association and contributing to the sustainable economic growth of our members. Can we expect new Japanese investments and, if so, in which sectors? — Yes, we are pleased to announce that there is significant interest in investing in Serbia among Japanese companies. Japanese companies have recognised the potential and opportunities offered by the Serbian market, especially in the context of the green transition and sustainable development. The latest Japanese investments focus primarily on sectors like renewable energy, energy efficiency, sustainable infrastructure and technologies that support environmentally friendly practices. Furthermore, we see interest in innovation, agriculture and industry sectors, where Japanese companies bring a high level of technological knowledge and experience. These investments not only contribute to Serbia’s economic development, but also strengthen bilateral cooperation and knowledge transfers. Why are numerous Japanese investments based in Vojvodina; and what are the prerequisites for the greater diversification of investments to encompass other parts of Serbia? — A significant portion of Japanese investments is directed towards Vojvodina for several key reasons, with one of the main factors being this province’s exceptionally favourable logistical position and robust infrastructure support. 15

Vojvodina is situated at the crossroads of critical transportation routes, offering an exceptionally advantageous geographical location. It is a region that has good access to key roads, railway lines and river transport routes, thus facilitating the transportation of goods and raw materials. It is relatively close to central European markets, which is appealing to Japanese companies that are aiming to efficiently distribute their products across the continent. Additionally, Vojvodina has excellent infrastructure support, including modern roads, railways and ports, thus providing a stable foundation for the transport and distribution of goods. This, in turn, enables the efficient flow of materials and finished products, which is essential to the operations of Japanese companies. Moreover, Vojvodina hosts well-developed industrial clusters, especially in the agriculture, food industry and automotive sectors. These clusters provide opportunities for companies to synergise and collaborate, which is another attractive aspect for Japanese investors. Prerequisites for the greater diversification of Japanese investments across other parts of Serbia include improving infrastructure and supporting education and the development of a skilled workforce, providing specific incentives for different regions, promoting local advantages and creating a stable environment conducive to doing business. Which JBAS activities would you single out as being the most important when it comes to strengthening friendly bilateral relations between Japan and Serbia? JBAS plays a pivotal role in fostering bilateral relations between Serbia and Japan. Some of the key activities that it has been the only business as16

Prerequisites for the greater diversification of Japanese investments across other parts of Serbia include improving infrastructure and supporting education and the development of a skilled workforce sociation to conduct since its inception relate to strengthening business cooperation between the two countries and empowering economic links between Japanese and domestic entrepreneurs at the national level. JBAS is an association that enables dialogue between Japanese and Serbian companies, creates business opportunities and facilitates exchanges of experience. By creating opportunities for direct contact between Japanese investors and Serbian enterprises, we contribute to a better understanding of the market and business mentality, establishing a stable framework for business. Additionally, by organising cultural events and raising awareness of the Japanese business culture and way of life in Serbia – either through JBAS or individually as companies – we contribute to strengthening interpersonal relationships and fostering better understanding between Japanese and Serbian society. I believe that, together with the Embassy of Japan in Serbia and organisations like JETRO and JICA, we will continue to strengthen the friendship between our two countries and serve as a bridge connecting the two nations. We all eagerly anticipate Expo 2025, which will be held in Japan and will provide us with an opportunity to expand the boundaries of Japan-Serbia bilateral cooperation and open new horizons for joint achievements.

We believe that

2024 will be a crucial year for the further development of our association JAPAN 2024

INTERVIEW | MASAHIRO UEKI JICA BALKAN OFFICE CHIEF REPRESENTATIVE

Sharing Japan’s Rich Development Experience While JICA’s renowned and respected work in supporting small businesses in Serbia continues, its efforts aimed at promoting green transition, innovation and knowledge transfers are gaining increased interest from the state, businesses and the general public ernment is environmental protection. JICA is aligning with this policy and has been implementing various projects in the environmental sector. The solid waste management project currently being implemented in the Municipality of Šid focuses on waste reduction and recycling activities that serve to improve the current situation in Šid. Based on results to date, our aim is to create an efficient and sustainable model of solid waste management that can be applied to other small and medium-sized municipalities in Serbia. By focusing on various activities, such as the introduction of composting to reduce household waste and

As a new project, we will dispatch a tourism promotion expert to Serbia for the next two years, with the idea of this expert covering the entire Western Balkan region

A total of

qualified JICA mentors have been active in Serbia to date 18

he Japan International Cooperation Agency, JICA, is an incorporated administrative agency that was established on the basis of Japanese law and is responsible for administering Japan’s Official Development Assistance (ODA). As one of the world’s largest comprehensive bilateral development assistance agencies, JICA implements cooperation in 139 countries and regions worldwide, including the Western Balkan. Here Masahiro Ueki, Chief Representative of the JICA Balkan Office, guides us through the work of JICA around the region.

How would you assess the progress of cooperation with Serbia in the environmental sector, including when it comes to green transition? — Within the scope of bilateral cooperation with Serbia, one of the priorities of the Japanese gov-

the implementation of separate collection to facilitate recycling, we are also utilising our experiences of solid waste management in Japan. Moreover, we have also provided a compactor truck in an effort to improve waste collection capacities. JICA is also putting a lot of effort into cooperation related to the green transition. Although the introduction of renewable energy sources, such as wind and solar energy, is expanding worldwide, its power generation is unstable due to changeable weather and sunlight. Various measures have been implemented in Japan to stabilise the country’s grid and ensure the reliability of the power supply, and this experience will certainly prove useful in Serbia. That’s why JICA has invited 11 engineers from the Ministry of Mining and Energy, EPS and EMS to Japan for three weeks from January this year. We have organised similar study visits annually since 2022. JAPAN 2024

What specific impact or success stories can be highlighted from JICA’s efforts to support small businesses in the region? — JICA and the Development Agency of Serbia (RAS) have been collaborating for over 15 years on the establishing of a mentoring service based on the Japanese model. This is a professional service, with an emphasis on realising growth potential and with the aim of helping micro companies and SMEs. Mentoring represents the process of joint work between certified mentors and entrepreneurs in analysing current positioning and defining further activities to promote future growth, which includes assisting with the implementation of KAIZEN business, consulting and coordination for access to funds and new technologies, assistance in finding business partners, training and other valuable services. A total of 54 qualified JICA mentors have been active in Serbia to date. Those mentors have amassed valuable experience in supporting the SME sector over the many years of their professional work. As for the recipient side, more than 4,000 companies in Serbia have taken advantage of this mentoring service, resulting in concrete results such as increased sales, an improved presence on the market, improved company organisation, increased customers satisfaction and other positive results. By utilising the knowledge and experience accumulated in Serbia, we are dispatching our official counterpart of Serbia to the Western Balkans. We want to develop this mentoring service as a regional brand across the Western Balkan region. How has collaboration between JICA and the NINJA (Next Innovation with Japan) accelerator programme facilitated the identifying and exploring of opportunities for participating entities on the Asian market? — NINJA is a project intended for local start-ups that is implemented by JICA worldwide. Within the scope of NINJA in Serbia, which was launched in 2022, we have implemented an accelerator programme to provide corporate management capacity building and mentoring services to seven selected IT start-ups in Serbia. In February 2023, each of these start-ups held a pitch event to explain their business plans to investors from Japan and elsewhere. More than 80 people participated, including online participation, and it was a great success, with each start-up receiving offers to hold business talks with investors. Furthermore, it also served to trigger the overseas expansion of each of these start-ups. In January 2023, we held a seminar entitled “How to Make It in Asia from Serbia” for Serbian cordmagazine.com

start-ups, in order to provide a broad introduction of how attractive the Asian market is. We were able to show the Serbian start-up community the Asian market as an option that had not previously received much attention in Serbia. As a result of these efforts, Serbian start-ups participated in start-up events held in Singapore, while one of the Serbian start-ups entered the Philippine market. In addition to accelerator programmes and pitch events, we are also considering providing training opportunities in Japan. Speaking to Serbian start-ups interested in the Asian market, I would say that we expect your participation in the next NINJA.

INTEREST We are confident in the Asian market as a target for Serbian start-ups, which is why we are considering launching a second round of NINJA in Serbia in 2024

MENTORSHIP Our mentoring service for SMEs will contribute to promoting the growth of local companies, as well as increasing Serbia’s future competitiveness as an attractive investment destination LEADERS JICA hopes that participants in the JICA Chair at the University of Belgrade will become future leaders and will contribute to the development of Serbia

How has the JICA Chair Programme with the University of Belgrade contributed to academic and research collaboration between Japan and Serbia? — Japan is the very first country, and still one of the rare countries, to have modernised from a non-Western background. Based on this recognition, JICA launched the JICA Chair (JICA Programme for Japanese studies) in 2020, in an effort to provide an opportunity for future leaders at top universities to learn about Japan’s modernisation and development experiences, which differ from those of Western countries. The JICA Chair has so far been introduced at leading universities in 62 countries, including the University of Belgrade. The JICA Chair in Serbia was officially launched in March 2022, in cooperation with the University of Belgrade. Until last year, the lectures covered topics like Japanese diplomacy, Japanese education, Japan and Southeast Asia, and Japanese intellectuals. Moreover, we also donated literature that contribute to improving research on Japan, as well as DVD teaching material of JICA Chair lectures, with Serbian subtitles, to the Faculty of Philology, Department of Japanese language and literature. Through these activities, we support studies on Japan at the University of Belgrade. What specific initiatives or projects is JICA planning to implement in 2024? — We would like to this year revitalise more exchanges of people, which leads to the strengthening of trust in our relationship with the Serbian Government, thereby further promoting our cooperation on the basis of Japan’s rich experiences in development. Since our office covers the Western Balkan region that includes Serbia, this year we would like to further strengthen regional cooperation by expanding our projects targeting the entire region. 19

CORPORATE | LINAS LIBIKAS, JTI GENERAL MANAGER FOR THE WESTERN BALKANS

Exploring Excellence We are delighted to announce the upcoming launch of our cutting-edge and truly unique heated tobacco experience. Although I’m unable to reveal too much at this moment, I can state with confidence that we are soon introducing the next generation of heated tobacco products to the Serbian market ~ Linas Libikas

e spoke with Japan Tobacco International’s Linas Libikas about the remarkable year that JTI Serbia had in 2023, with a focus on two key aspects that define its excellence: recognition of its status as a Top Employer for the ninth consecutive year; and the cutting-edge Japanese technological advances shaping its future. It was precisely a year ago that we discussed your new five-year investment cycle with a value of 51 million USD. Is everything being implemented and rolled out according to plan? — Yes, we are very satisfied with how things are going. Since the end of 2022, we’ve successfully invested nine million USD in the development of production at our Senta factory and constructed two additional state-of-the-art warehouses covering an area of more than 2,000m2. We are this year planning to develop and install a new machine for packing cigarettes. The two most important items in the remaining investment, worth 42 million USD, are cutting-edge technology lines for making and packing cigarettes, as well as the expansion of the warehouse for non-tobacco materials. When we complete the entire investment cycle in 2027, we will have an exceptional factory – not only in Serbia, but across the JTI system worldwide – and this modernisation will have a great impact on increasing the efficiency and speed of work. New investments contribute to increasing the export potential of JTI and Ser20

Copyrights Georg Wilke

bia as a whole, but also contribute to boosting the state budget. Does Serbia have enough diligent and talented experts who are eager to progress and improve?

— For sure! It is a known fact that the workforce in Serbia is highly appreciated thanks to its hard work, professionalism, ability to learn fast and be resourceful and agile. These are skills and values that every JAPAN 2024

company appreciates the most in its employees, who represent the main and most meaningful resource a business can have. Let me give you an example: this is the ninth year in a row that JTI Serbia has been recognised as a Top Employer, and we are the second-highest rated employer in areas that are crucial for this certification, one of them being the development of employees and attracting high-quality, talented people on an increasingly competitive job market. So, if we didn’t have a high-quality workforce, we could never have succeeded in receiving this prestigious award for so many consecutive years. Our employees are definitely the main ingredient in our success and prioritising them is essential to ensuring an excellent financial performance and sustaining the company’s growth on a competitive market. Last year proved very successful for JTI when it comes to the production of tobacco, with excellent quality and higher bulk buying prices? What do you expect from 2024? — Last year was very successful in terms of tobacco production. It was a year during which we hit some major records. We managed to have the best quality tobacco ever and to have the highest average purchase prices ever paid to our tobacco growers. To explain, this was the most successful year in terms of the quality of Virginia tobacco in the 28 years since production of this type of tobacco was established. On the other hand, we strive to be a true partner to our tobacco producers. And that’s why, with an awareness of rising living and production costs, we made the decision to significantly increase the purchase prices of tobacco regardless of its type and quality. For both tobacco types, Virginia and Burley, we increased the purchasing prices by about 30 per cent in comparison to the price initially planned at the moment of contracting the production, and we expect this year to be even better when it comes to growing and harvesting tobacco. JTI is among the largest investors in Serbia, while it is also one of the country’s largest taxpayers and most desirable employers. What are all the things that we should learn from your company? Do we even grasp the concept of Japanese business culture? cordmagazine.com

— Perhaps we are of the opinion that it is actually us who should maintain a learning mindset. This is our prerogative – keep growing, keep learning, and keep doing so every day. Taking even small steps every day, in order to achieve major longterm results, is at the core of the Japanese Kaizen business philosophy. This philosophy implies improving business every day and is characteristic of practically all Japanese companies that have achieved great results in terms of quality and efficiency. In 2008, the JTI factory in Senta was the first in Serbia to start applying the Kaizen philosophy and can boast of having since achieved a 50% increase in productivity, but also a reduction of as much as 70% in the amount of waste generated. We believe that exchanging knowledge is important, which is why we’ve opened the doors of our Senta factory and are inviting representatives of various companies in Serbia to discuss Kaizen principles and ways of implementing them in practice.

This is the ninth year in a row that JTI Serbia has been recognised as a Top Employer, and we are the second-highest rated employer in areas that are crucial for this certification, one of them being the development of employees and attracting high-quality, talented people on an increasingly competitive job market… Our employees are definitely the main ingredient of our success

Serbia is leading the way in the region when it comes to the inflow of Japanese investments, which have added value that far exceeds the importance of the initial investment amount. The importance of these investments is primarily reflected in new technologies that contribute to the development of the economy, but also to overall technological development. — Japanese companies are increasingly present in Serbia, with investments that have exceeded 2.5 billion USD. Looking at all the business potential of our market, companies coming from Japan bring an additional value – in the form of significant knowhow and new technologies, thereby providing a significant contribution to the development of the economy, but also to technological development. In fact, to give you an exclusive sneak peek, there is something new coming our way when it comes to innovative Japanese technology. We are delighted to announce the upcoming launch of our cutting-edge and truly unique heated tobacco experience. Although I’m unable to reveal too much at this moment, I can state with confidence that we are soon introducing the next generation of heated tobacco products to the Serbian market. Stay tuned! 21

CORPORATE | NIKOLA PAVLOVIĆ KONICA MINOLTA SERBIA MANAGING DIRECTOR

Greatest Achievements Yet to Come Over the 150 years since its inception, Konica Minolta hasn’t merely observed and witnessed change, but has spearheaded transformation. This period of a century and a half has been marked by remarkable and numerous innovations, and we remain committed to maintaining our leading role in the future ~ Nikola Pavlović reativity, ingenuity and adaptability, shown by people from the past, present and future – whether they are employees, partners or customers – have made Konica Minolta the brand it is today, and that it will continue to be tomorrow. While we take pride in our long history, we firmly believe that our greatest achievements lie ahead. In a time when ever fewer companies are celebrating significant milestones, particularly companies with over 40,000 employees worldwide that are dedicated to preserving and advancing what was initiated in 1873, we can take pride in our first 150 years of progress, innovation and constant development. Our company’s founder, Rokusaburo Sugiura, who later established the Konica

Corporation, initially opened a small, specialised shop for photographs and lithography in Tokyo back in 1873, when the world was vastly different. Even though that was during the time prior

cameras, including the Minolta Hi-Matic, which is the camera that John Glenn would use to take the first photos of Earth from space. The merger of Konica and Minolta occurred at the beginning of the new century, or in 2003 precisely. Throughout its existence, Konica Minolta has transformed, evolved and innovated continuously, with imaging at its core. We have contributed to many groundbreaking innovations, as evidenced by our impressive list of approximately 20,000 patents registered worldwide. These innovations stemmed from versatility and the desire for development, all of which have contributed to our continuing success. However, at Konica Minolta we don’t rely solely on our rich heritage. We today prioritise continuous research and development. Our focus is on intelligently connected workplaces, office devices, IT solutions and M-Files (a DMS system), Video surveillance systems (VSS) and Video Analytics System (VAS) solutions all of which represent smarter ways of working, as well as professional printing. When it comes to the future, we at Konica Minolta see it in data, b e caus e w e are cur rently in the midst of the digital revolution. Digital transformation has led to an explosion of data that can provide insight and information, but only if communicated correctly. However, since the volume of data is often too large for humans to analyse manually, we require artificial intelligence (AI). This vision was eloquently explained by Kiyo Suhara, President of Konica Minolta Europe, who stated that our

Throughout its existence, Konica Minolta has transformed, evolved and innovated continuously, with imaging at its core to the emergence of automobiles, radios and televisions, his entrepreneurial spirit laid the foundations for what would become Konica Minolta. Fifty-five years later, in 1928, Kazup Tashima founded Nichi-Doku Shashinki Shoten. That later became Minolta Co., a manufacturer of photocopiers and

goal is to combine our original imaging technologies with artificial intelligence to enable data processing and decisionmaking based on data. He explained that decisions that change the way we work, enhance security, improve product quality or enable progress in medicine are at the core of our vision. JAPAN 2024

CORPORATE | VUKAŠIN RADULOVIĆ PARTNER AT HELIANT

Medicine is Facing Transformation In order to utilise the potential of our healthcare system in the most rational way, it is necessary to be well-acquainted with its specificities, its strengths and areas for improvements, just as we know it at Heliant – a company whose information system, services, applications and software are being used by ever more healthcare institutions to engage actively. This will contribute to the early identification of potential health problems, reducing the number of hospitalisations and generally improving quality of life. ere we discuss with Heliant’s Vukašin Radulović the future of medicine and healthcare services, the importance of digitalisation and artificial intelligence to modern diagnostics and treatments, the Telemedicine project and collaboration with Japanese companies.

Since our last conversation, we’ve seen an increase in the number of institutions using your information system, but also in the number of Heliant services, applications, software, and satisfied users... What’s next? — That’s correct; we have achieved significant growth in the number of institutions, services, applications and software. We are engaging increasingly in education and donating information systems to medical schools. The continuous development of healthcare requires serious support through digitalisation. Until last year we were facing long waiting lists for MRI scans, which have overburdened the system for years, which have overburdened the system for years. In response to this challenge, we’ve developed a fast and efficient solution for healthcare institutions. We eased the scheduling of scans, monitoring their implementation and enabling insight into time slots available at multiple institutions. How do you see the future of medicine? — Looking to the future of medicine, a revolutionary transformation through artificial intelligence and prevention lies ahead of us. Arcordmagazine.com

We eased the scheduling of scans, monitoring their implementation and enabling insight into time slots available at multiple institutions tificial intelligence will enable faster and more accurate diagnostics, advancing the personalised approach to treatment and helping in the development of new and more effective medicines. This could be achieved through improved data management and the transformation of approaches to decision making, which in future will be based on comprehensive analysis of the health status of the patient and the population as a whole. Prevention will become central to the approach to healthcare. With the development of advanced technologies for monitoring and analytics, such as wearable devices and apps, patients will be in a position

Japanese investments seem to be very important for Serbia in that they bring new technologies, high standards and business ethics, encourage transfers of knowledge etc. Is that particularly important when it comes to the healthcare sector? — Cooperation with the Japanese Business Alliance in Serbia has brought us closer to new technologies and raised the standards of our work. I would highlight in particular the importance of knowledge transfers, which aren’t only crucial to advancing healthcare services in Serbia, but also to strengthening bilateral relations between Japan and Serbia. Our experience clearly demonstrated that both countries have lots to offer one another, especially in the healthcare technology field. Japanese investments are exceptionally significant for Serbia, particularly in the healthcare sector, as is also confirmed by our experience with our Japanese partners. We last year successfully concluded one of the key projects – Telemedicine – in cooperation with Japanese pharmaceutical company Takeda. The project was implemented in cooperation with the Ministry of Environmental Protection and the Ministry of Mining and Energy, with financial support from the Government of Japan, and by UNDP through the initiative 'Just Green Transition and Decarbonisation in Serbia'. We thereby expanded the telemedicine services, which were developed during the pandemic, to the national level, implementing solutions at seven centres for inflammatory bowel diseases. 23

INTERVIEW | PREDRAG BJELETIĆ DIRECTOR, ALPHA IMAGING

Knowledge in the Service of Better Diagnosis For nearly a quarter of a century, Alpha Imaging has been engaged in the import, sale, installation and maintenance of medical imaging equipment produced by renowned global manufacturers. All Alpha Imaging service engineers have completed training at specialised centres in Japan, Germany and South Korea

consulting, engineering & sales

irtually every healthcare ins titution in Serbia is equipped with at least one device from the Alpha Imaging product portfolio, while the company recently also initiated collaborations with new partners, in response to the needs of users.

Could you please describe your product portfolio? — Alpha Imaging was founded in 2000 with the idea of distributing and servicing medical diagnostic imaging devices and systems. We embarked on this journey as exclusive distributors and service providers for Japanese company Shimadzu. We continued our collaboration with FujiFilm and Hitachi, forming a portfolio of high-quality Japanese products that includes ultrasound machines, X-ray devices and systems, computerised tomography (CT) scanners, magnetic resonance imaging (MRI) systems, mammography units and endoscopy devices. In order to bolster our portfolio and better meet our users’ needs, we began collaborating with companies like Germany’s Ziehm Imaging (C-arms for operating rooms), Visus (software for image communication and archiving), Japan’s JVC Kenwood (medical monitors), DrGem from South Korea (X-ray devices), and iCAD from the United States (artificial intelligence software). 24

We have contributed to the practical application of hardware and software solutions, thus enabling faster and higher-quality diagnostic results You take great pride in your partners, each of whom – as an exclusive distributor – pushes the boundaries of technological advancement. Could you elaborate on this? — By leveraging the support of our partners, leading global manufacturers, and their ongoing investment in developing and implementing cutting-edge technol-

ogy, we have contributed to the practical application of hardware and software solutions, enabling faster and higher-quality diagnostic results. We actively participated in the digitalisation of medical diagnostic imaging equipment, implementing computerised radiography (CR) and flat-panel detectors (FPD). We were also involved in the introduction of multi-slice computed tomography (MSCT) and permanent and superconducting MRI. All digital devices have been linked to workstations with software for image processing, archiving and data transfer. This enabled us to connect diagnostic results to a common information network, thus ensuring easy data access for timely and accurate diagnoses. We also introduced iCAD software for artificial intelligence in mammography imaging and screening, thereby accelerating the process and the accuracy of results. Are your employees fully prepared to assist every client, at any moment, in every aspect? — All our service engineers have completed specialised technical training at manufacturers’ centres in Japan, Germany and South Korea. They hold certificates that enable them to install, commission and maintain devices within the warranty and post-warranty periods. Following installation and commissioning, our application specialists provide essential training for the proper use of equipment. We have signed annual maintenance contracts, defining all relevant parameters for performing service activities, with most healthcare institutions. JAPAN 2024

Official distributor and service:

West Balkans Machinery d.o.o. I Dositejeva 39, 22310 Šimanovci, Srbija I Fax.: +381 22 850 860; Tel.: +381 22 850 850 E-mail.: office@wbm.rs I www.wbm.rs

INTERVIEW | OLIVER LEPORI EXECUTIVE DIRECTOR OF THE JAPANESE BUSINESS ALLIANCE IN SERBIA

Cooperation Takes Centre Stage We aim to strengthen and solidify our partnerships with key players in the sustainability sector in Serbia, ranging from institutions to non-governmental organisations, the private sector and the academic community. We together aspire to contribute to local and global efforts aimed at protecting the environment

A total of

n 2024, the Japanese Business Alliance in Serbia (JBAS) is continuing to focus on enhancing collaboration with relevant sectors of the economy and the academic field, governmental institutions and international partners, in an effort to foster a sustainable business environment. This perspective is shared by JBAS Executive Director Oliver Lepori. The previous year proved to be a remarkably successful one for JBAS, and this interview provided an opportunity to review achievements and outline the association’s plans for the period ahead.

participants from across Serbia have demonstrated their innovative One of your ongoing activities is related to endecarbonisation ergy sector transition. What can JBAS offer its members in this regard, and with which stakesolutions holders have you collaborated the most when it 26

comes to promoting the potential of Japanese companies in this field? — In light of global challenges related to climate change and sustainability, JBAS is dedicated to supporting the implementation of the green agenda. Our aim is to contribute, hand in hand with our members and partners, to preserving the environment and creating a sustainable future to the greatest extent possible. Japanese technology, knowhow and innovations provide some of the most advanced solutions to support Serbia in its just energy transition. This support encourages investments and innovative business models that reduce dependency on imports, diversify the energy production mix and facilitate access to clean and affordable energy. JAPAN 2024

The assistance that we provide, in collaboration with our members, is equally available to both the public and private sectors. In line with the spirit of Japanese business philosophy, we exert special efforts to focus on vulnerable sections of the population and underdeveloped municipalities. A new cycle of the project “Innovative and Just Green Transition as a Tool for Ensuring Systemic Energy Security and Reducing Energy Poverty” was implemented in 2023, led by UNDP Serbia and conducted in cooperation with the Ministry of Environmental Protection and the Ministry of Mining and Energy, and with support from the Government of Japan. Within this project, a total of 28 participants from across Serbia demonstrated their innovative decarbonisation solutions, a just green transition for the economy, and support for energy-vulnerable households. Many of the projects presented will make use of Japanese technology and knowhow. Alongside such initiatives, we will also continue establishing partnerships with key sustainability stakeholders – including government institutions, non-governmental organisations, the private sector and academic institutions – in order to contribute to global environmental protection efforts and create a sustainable business paradigm in Serbia. The first Serbian-Japanese Business Club was established recently. What makes this a significant development, and how will JBAS collaborate with the club? — We are delighted that, thanks to the dedicated efforts of the Embassy of the Republic of Serbia in Japan, led by Ambassador Aleksandra Kovač, bilateral relations between Japan and Serbia will be further strengthened through the establishment of another institution: the Serbian-Japanese Business Club. This club has already brought together 22 Japanese companies and individuals, including high representatives of some renowned investors in the Serbian economy, such as Japan Tobacco International, Nidec, Yazaki, Toyo Tires and others. This serves as further confirmation of the transformation of relations between Serbia and Japan, reflected in a significant increase in Japanese investments in Serbia and the bilateral trade exchange. We believe that the business club will provide an immeasurable contribution to joint efforts to promote all the qualities of Serbia as an investment destination. This includes aspects such as the country’s highly educated workforce, export opportunities to the European Union, geographical location and subsidies, but also Sercordmagazine.com

Japanese technology, knowhow and innovations offer some of the most advanced solutions to support the process of just energy transition in Serbia bia’s general economic conditions and incentives for foreign investors. This will become particularly evident in the near future, given that Expo 2025 will take place in Osaka, followed by Expo Belgrade 2027.

WELCOME We are delighted that bilateral relations between Japan and Serbia will be further strengthened through the establishment of another institution: the SerbianJapanese Business Club

SUPPORT One significant task ahead of us is providing active support to the Government of Serbia and domestic companies in preparing for the upcoming Expo 2025 in Osaka

PUBLICITY Given that Serbia is currently building its image in Japan as an investment destination, any form of support and encouragement to potential investors is extremely important

You had an opportunity to give an interview to the Japan Times in the middle of last year. How important are such media engagements when it comes informing the Japanese business community about Serbia’s investment potential and JBAS’s ability to support potential investors? Disseminating information of the kind you mention in prestigious media outlets holds great significance when it comes to informing the Japanese business community about Serbia’s investment potential. This type of communication contributes to one of our main objectives: building trust and establishing sustainable business relationships between Serbia and the Japanese business community. Given that Serbia is currently building its image in Japan as an investment destination, any form of support and encouragement to potential investors is extremely important. What are JBAS’s plans for the near future? — We have an exciting year ahead of us. Our ambitious plans for the coming period are focused on further enhancing the Japanese-Serbian business community’s work and providing support to our members. Our focus will continue to be on strengthening collaboration with relevant sectors of the economy and the academic field, governmental institutions and international partners, in order to create a sustainable business environment. One significant task ahead of us is providing active support to the Government of Serbia and domestic companies in preparing for the upcoming Expo 2025 in Osaka, as well as promoting the Expo Belgrade 2027 event. Through these and numerous other initiatives, through the scope of our work, JBAS will continue to contribute to improving the business climate and economic growth in our country. 27

JAPAN 2024

Beautiful Harmony Japanese culture is unique for its blend of traditional values and modern innovations. This harmonious combination is evident in various aspects of life, from architecture and art to everyday rituals, making Japan a country where the past and the future coexist in perfect balance. This essential fusion of the traditional and the contemporary makes Japan an incredibly intriguing and inspirational place to explore.

cordmagazine.com

BILATERAL TRADE & INVESTMENT

Serbia Attracts

Japanese

Giants

The distance of more than 9,000 kilometres separating Belgrade and Tokyo certainly represents one of the key reasons why the trade exchange between the two economies remains modest, although it is growing. However, it has become apparent that the distance between the two markets is no longer a barrier when it comes to Japanese companies recognising Serbia as their new European hub of business, manufacturing and technology. After Germany, which hosts the largest number of Japanese companies in Europe, followed by Poland and Czechia, where Japanese investors were keen to invest in the early 2000s, Serbia welcomed its first Japanese investment in 2006 30

JAPAN 2024

fter about twenty companies present on the local market since the time of the former Yugoslavia, such as Mitsubishi, the first Japanese investment arrived in Serbia in 2006. Japan Tobacco International (JTI) acquired the Tobacco Industry in Senta and, according to company data, has since invested over 300 million euros in tobacco production and processing (including initial and ongoing investments). The company also has plans to invest around 50 million dollars over the next five years. Following investments in the tobacco industry, the Panasonic Group invested in producing energy-efficient electronic components for lighting in Svilajnac and YAZAKI invested in the manufacturing of cable sets in Šabac. Kansai invested in the Serbian chemicals industry with the acquisition of Gornji Milanovac-based Slovenian company Zvezda Helios, while HI-LEX acquired an Italian firm based in Sremska Mitrovica that produces electrical and electronic equipment for motor vehicles. Mayekawa invested in a local company in Smederevo with which it had already established cooperation on the production of refrigeration compressors and heat pumps. Aquafarm SEE launched investments in agriculture in Srbobran. Itochu Corporation entered into the ownership structure of local company Master Fruits through its subsidiary (Master Frigo has a joint venture with

Japanese company Takeda – alongside Germany’s Merck Sharp and Dohme, Swiss Roche and Swiss Rockets, American company Pfizer and China’s BGI Group – will be one of the global partners in Serbia’s BIO4 Campus centre

companies: Toyo Tires and Nidec, which decided to invest in Serbia and thus more than double the Japanese investment impact in the country. According to official data from Serbia’s central bank, the National Bank of Serbia (NBS), Japan invested €465 million in Serbia between 2013 and the third quarter of 2023. Over the previous four to five years, more than 90 per cent of

the Japanese investment fund Itochu, which owns American company Dole Packaging). A turning point in bilateral economic relations between the two countries came in 2018, with the first visit of a Japanese official to Serbia in three decades when then-Japanese Prime Minister Shinzo Abe visited, accompanied by a delegation of 16 representatives of major Japanese companies that are recognised globally. The beginning of the following year saw the entry into force of the EU-Japan Free Trade Agreement, representing a significant juncture in cooperation with Serbia, as a country situated on the EU border and committed to European integration. This new chapter in economic cooperation was quickly crowned by two Japanese multinational cordmagazine.com

Many are particularly interested in collaboration and investment in innovative infrastructure, energy, environmental protection, biotechnology and the ICT sector these investments have come directly from Japan, while in the last two years a total of twothirds of investments (over 300 million euros) have come from Japan. Toyo Tires opened its premium-class automotive tire factory in Inđija in mid-December 2022, in an effort to cater to the needs of renowned global car manufacturers and markets in Europe, the Middle East, Africa and North America. This marked the corporation’s first greenfield investment in Europe. As part of a grand plan to invest up to 1.5 billion euros in Europe (with the largest portion earmarked for Serbia), one of the world’s largest electric motor manufacturers, Nidec Corporation, embarked on its conquest of the European market from its new base in Novi Sad. It opened two factories in spring 2023: Nidec Electric Motors, which produces electric motors for power steering and drive motors for hybrid vehicles; and Nidec Elesys Europe, which manufactures inverters and electronic automobile control units. In addition to the capital invested, job creation and boost to exports from Serbia, these investments 32

Mutual trade has increased

2.5-fold over the last ten years, while Serbian exports to Japan have grown

15-fold

also bring modern technologies, high standards and transfers of knowledge to the Serbian economy. A particular highlight of Nidec’s research and development centre, where existing products will be enhanced and new ones created, is its strategic partnership with a local institution in the University of Novi Sad. There is mutual confidence that these two investments will lead to a wave of new Japanese investors interested in better positioning themselves on the European market and seeing Serbia as a new investment destination. According to some reports, the arrival of six Nidec suppliers is expected in the coming period, with five of them coming from Japan. The positive experiences of investors in the tobacco, electrical, chemicals and food industries, as well as projects undertaken by Japanese companies Itochu Corporation and Mitsubishi Hitachi Power Systems in Serbia (Vinča landfill and the TENT desulphurisation project), have sparked interest among other Japanese firms. Many are particularly interested in collaboration and investment in innovative infrastructure, energy, environmental protection, biotechnology and the ICT sector. Japanese company Takeda – alongside Germany’s Merck Sharp and Dohme, Swiss Roche and Swiss Rockets, American company Pfizer and China’s BGI Group – will be one of the global partners in Serbia’s BIO4 Campus centre. This centre, the construction of which began in Belgrade recentJAPAN 2024

ly, is set to rank among the most significant bioeconomic centres in Europe. Judging by last year’s visit to Japan of Serbian Energy and Mining Minister Dubravka Đedović Handanović, as well as the predominant topics discussed by the highest Serbian state officials with the Japanese Embassy in Belgrade and with Japanese governmental and business associations, the strongest impact on economic relations between the two countries over the period ahead will come from cooperation in the field of energy. Serbian projects related to green energy transition and the construction of energy infrastructure, worth 15 billion euros and including the reversible hydropower plant project in Bistrica, present opportunities for Japanese investors and the transfer of Japanese technologies – from technology for harnessing hydropower to hydrogen technology, in which Japan is considered a global leader.

THE IMPORTANCE OF COOPERATION Collaboration with Japan, which ranks as the world’s third-largest economy and is renowned for its high total product value, technological advancement and industrial potential, along with Japanese companies that epitomise the most successful business models, top-quality and technological innovation, impeccable organisation, efficient production and business discipline, holds immense significance for the Serbian economy and Serbian companies. Every new business arrangement with Japanese companies and every export deal to the Japanese market will serve to prove that Serbia has attained reliability and trustworthiness for the demanding Japanese market and its discerning partners in Japanese corporations. Each Japanese investment in Serbia is evidence of achieved in enhancing the business and investment climate and confirms that Serbia is becoming an attractive destination for investments from Japanese companies.

In 2022, the total goods trade between the two countries amounted to only €313.8 million, with Serbia exporting goods worth €94.5 million to Japan and imports with a total value of €219.3 million Serbia is also interested in attracting investments and building its capacity to exploit and process rare or critical mineral resources that the region possesses (such as lithium, copper, nickel, borates, natural graphite, antimony and magnesite). These resources are essential to a successful green transition and the production of new hightech and energy-efficient products, such as electric vehicle batteries or energy storage batteries, as well as solar panels. Over time, strengthening economic ties through investment cooperation and technology transfers could stimulate and increase the trade volume and Serbian exports to the distant, highly demanding, selective and protected Japanese market. Mutual trade has increased 2.5-fold over the last ten years, while Serbian exports to Japan have grown 15-fold. Although around 2,500 Serbian companies trade with Japan (mostly as importers), the actual impact remains well below the potential. In 2022, the most recent year for which statistics exist for all 12 months, the total goods trade between the two countries amountcordmagazine.com

According to official data from the National Bank of Serbia (NBS), Japan invested

€465

million in Serbia between 2013 and the third quarter of 2023

ed to only €313.8 million, with Serbia exporting goods worth €94.5 million to Japan and imports with a total value of €219.3 million. Previous contacts between entrepreneurs and business association analyses indicate opportunities for increased sales of Serbian agricultural and food products, especially Serbian berries that are highly valued in Japan (frozen raspberries, fruit derivatives) and organic products, wines, mineral water, spirits and medicinal teas. Opportunities for better acquisitions and connecting the countries’ business communities will be provided by the participation of Serbian companies in EXPO 2025 in Osaka and Japanese companies in the specialised Expo 2027 world exhibition to be held in Belgrade. Establishing the Serbian-Japanese Business Club in Tokyo, which will work to deepen economic cooperation between the two countries, alongside the Japanese Business Alliance in Belgrade, chambers of commerce and other business associations, will also serve to stimulate and support new business arrangements. 33

SETSUKO THURLOW

Life of Resilience, A

and Activism,

Achievement

Setsuko Thurlow, a name that resonates with courage and dedication, has led an extraordinary life that spans continents, decades, and a relentless pursuit of peace. Her story is one of survival, activism, and numerous prestigious awards that recognise her unwavering commitment to a more peaceful world.

JAPAN 2024

cordmagazine.com

EARLY LIFE AND THE HIROSHIMA TRAGEDY Born in 1932 in Hiroshima, Japan, Setsuko Thurlow grew up in a city marked by its rich history and culture. Little did she know that her life would be forever changed on that fateful day, 6th August, 1945. Setsuko was just 13 years old when the United States dropped an atomic bomb on Hiroshima. She miraculously survived the devastating explosion, emerging from the rubble with her mother and sister. The horrors of witnessing the aftermath of the atomic bomb left an indelible mark on Setsuko’s psyche. She became a hibakusha, a survivor of the atomic bombing, and her personal experiences fueled her determination to prevent others from enduring similar suffering.

DEDICATION TO PEACE ACTIVISM

Setsuko Thurlow’s commitment to peace and disarmament began to take shape in her teenage years. She joined the Hiroshima-Nagasaki Student Group and actively participated in efforts to raise awareness about the devastating consequenses of nuclear warfare. Her resilience and advocacy earned her a scholarship to study in the United States, where she continued her activism. In 1954, Setsuko relocated to Canada to pursue her education, eventually becoming a dedicated educator herself. Her passion for peace remained unwavering, and she joined organizations like the Hiroshima-Nagasaki Relived (HNR) Campaign and the Campaign for Nuclear Disarmament (CND), tirelessly working to promote a nuclear-free world.

Setsuko Thurlow’s remarkable journey is a testament to the strength of the human spirit and the power of determination in the face of unimaginable adversity INTERNATIONAL RECOGNITION AND AWARDS

Setsuko Thurlow’s tireless dedication to nuclear disarmament and her ability to effectively convey the urgency of the issue through her personal experiences earned her a series of prestigious awards and international recognition. The Nobel Peace Prize (2017): One of the most significant milestones in Setsuko Thurlow’s 36

life came in 2017 when she, along with the International Campaign to Abolish Nuclear Weapons (ICAN), was awarded the Nobel Peace Prize. This accolade recognised her exceptional contributions to the global movement for nuclear disarmament. Setsuko Thurlow’s moving and heartfelt acceptance speech at the Nobel ceremony touched the hearts of many, as she recounted her harrowing experience as a Hiroshima survivor and called for the complete elimination of nuclear weapons. The Nobel Committee’s decision to honor her and ICAN emphasised the urgency of disarmament and underscored the importance of the Treaty on the Prohibition of Nuclear Weapons (TPNW), which she had played a pivotal role in bringing to fruition. The Order of Canada (2018): In recognition of her lifelong commitment to peace, Setsuko Thurlow was appointed a Member of the Order of Canada in 2018. This prestigious honour is bestowed JAPAN 2024

upon Canadian citizens who have made significant contributions to their country and society at large. Setsuko’s unwavering dedication to advocating for a world without nuclear weapons and her role as a global peace ambassador made her a deserving recipient of this distinction. The Arms Control Association’s Distinguished Service Award (2019): Setsuko Thurlow received the Distinguished Service Award from the Arms Control Association in 2019. This accolade acknowledges her exceptional efforts in advancing arms control and disarmament, particularly her role in advocating for the Treaty on the Prohibition of Nuclear Weapons. The Arms Control Association, a renowned organisation dedicated to addressing the challenges posed by weapons of mass destruction, honoured Setsuko for her outstanding contributions in promoting global security and peace. Honorary Doctorate Degrees: Setsuko Thurlow’s impact as a global peace advocate and educator has also been recognised through the conferral of honorary doctorate degrees from several institutions. Her alma mater, the University of Toronto, and other universities have honoured her with these degrees in acknowledgment of her commitment to fostering a safer world through disarmament education and advocacy. Setsuko Thurlow’s numerous awards and honours serve as a testament to her enduring dedi-

cordmagazine.com

cation to peace and her ability to inspire change on a global scale. Her legacy continues to motivate individuals and organisations to work tirelessly towards a world free from the threat of nuclear weapons, reminding us that even in the face of immense challenges, the pursuit of peace is a noble and achievable endeavour.

A LEGACY OF INSPIRATION

Setsuko was just

years old when the United States dropped an atomic bomb on Hiroshima

Setsuko Thurlow’s remarkable journey is a testament to the strength of the human spirit and the power of determination in the face of unimaginable adversity. Her life serves as an inspiration to countless individuals worldwide who aspire to make a positive impact on global issues. As a Hiroshima survivor, a dedicated peace activist, and a Nobel laureate, Setsuko Thurlow’s legacy will continue to shape the discourse on nuclear disarmament and inspire future generations to strive for a world free from the threat of atomic weapons. Her life’s work reminds us that change is possible when driven by unwavering passion and a commitment to creating a more peaceful and just world.

She joined the Hiroshima-Nagasaki Student Group and actively participated in efforts to raise awareness about the devastating consequences of nuclear warfare

ACTIVITIES | JBAS 2023

JBAS activities 2023 DECEMBER

NEW YEAR 2023 COCKTAIL PARTY

JBAS held its annual New Year Cocktail Party to celebrate the upcoming year of the dragon. The event was attended by representatives of the Embassy of Japan in Serbia and the Government of the Republic of Serbia, who joined JBAS members and other partners in celebrating the end of 2023.

NOVEMBER

JSFF GRAND OPENING CEREMONY

JBAS members and representatives of the Embassy of Japan in Serbia had a unique opportunity to together watch the Serbian premiere of the Japanese film “Mom, is that you?” and to enjoy delicious Japanese cuisine at the exclusive afterparty that was reserved for special guests. DECEMBER

VISIT TO BEO ČISTA ENERGIJA

JBAS organised a visit to BCE - Beo Čista Energija, where its members were warmly received at the Vinča landfill site. BCE provided JBAS visitors with insight into the activities and facilities on site, as well as the processes used to minimise the negative impact of waste on the environment and to produce energy from waste.

NOVEMBER

JAPANESE CULTURE DAY

JBAS celebrated Japanese Culture Day, in cooperation with PwC Serbia, providing its member companies and partners with an opportunity to be part of the workshop on the topic “Impact of the EU ESG regulations on Serbian companies”. 38

JAPAN 2024

SEPTEMBER

TSUKIMI

OCTOBER

COMPETITION COMPLIANCE IN SERBIA WORKSHOP

JBAS members, business partners and friends jointly celebrated the traditional Japanese moon-viewing festival, Tsukimi, on the premises of the outstanding Astronomical Observatory Belgrade. Following a brief presentation on this festival by Japanese language, literature and culture specialist Alena Spasić, a cooperation protocol was officially signed by JBAS Executive Director Oliver Lepori and the Astronomical Observatory’s Director, Dr Luka Č. Popović Ph.D.

In partnership with member company Gecić Law, JBAS organised an interesting workshop under the heading “Competition Compliance in Serbia”, at which Ivana Stojanović Raišić, an expert on competition law, delivered a detailed lecture covering many aspects of this important topic for representatives of JBAS member companies. OCTOBER

BOOK “KAIZEN HOW JAPAN SUCCEEDED”

JBAS supported the publishing of the book entitled KAIZEN HOW JAPAN SUCCEEDED, subtitled Fascinating History, which was published in the Japanorama edition of the Serbian-Japanese Society BELGRADE-TOKYO and authored by Dragan Milenković, a famous Japanologist and founder of that society. The book was presented at the 66th International Belgrade Book Fair.

JUNE

FIRST JBAS JAPANESE BUSINESS CULTURE AND COMMUNICATION COURSE

In an effort to support its members in better understanding the mindset and business customs of their Japanese colleagues, partners and clients in achieving their business goals, JBAS organised its first course on Japanese business culture, encompassing four concise online workshops led by Ms Alena Spasić, who holds a BA in Japanese Language, Literature and Culture.

OCTOBER

VISIT TO THE CHAMBER OF COMMERCE AND INDUSTRY OF VOJVODINA

The JBAS management team and representatives of its 20 member companies visited the premises of the Chamber of Commerce of Vojvodina, in the company of Ambassador of Japan to Serbia H.E. Akira Imamura. Ambassador Imamura and JBAS President Goran Pekez were among the speakers at this gathering of over 70 businessmen, who included representatives of both local companies and Japanese companies operating in Serbia. cordmagazine.com

MAY

9TH SEE AUTOMOTIVE CONFERENCE 2023

JUNE

WORKING GROUP MEETING WITHIN THE IPA 2017 PROJECT

JBAS and its member companies participated in the 9th SEE Automotive Conference – Connect & Supply, which was organised by AC Serbia in Belgrade and included the panel debate “Smart Manufacturing: Challenges and Future Directions”. Moderated by JBAS Executive Director Oliver Lepori, panellists included Mitsubishi Electric Europe B.V., Aleksandar Stanković, and General Director of Nidec Elesys Europe, Aleksandar Nestorov, both of whom presented their activities in Serbia and shared their views on the current situation and future development of the automotive industry.

JBAS participated in the Working Group meeting within the IPA 2017 project entitled “Further Development of Energy Planning Capacities”. The theme of the meeting was the presentation of the Draft Report on Strategic Environmental Impact Assessment for public consultation, which was prepared on the basis of the Draft Integrated National Energy and Climate Plan of the Republic of Serbia for the period up to 2030, with projections up to 2050.

MAY

JBAS GENERAL ASSEMBLY

On the occasion of the JBAS Annual Assembly, a UNDP Public Call was opened for the project “Innovative and Just Green Transition as a Tool for Securing Systemic Energy Security and Reducing Energy Poverty”, which is being financed by the Government of Japan.

JUNE

VOJVODINA PREMIUM FOOD FOR JAPAN

A food tasting event entitled “Vojvodina Premium Food for Japan”, organised by the Vojvodina Development Agency specifically for the Japanese business community in Serbia, was held in June. It was the final activity of the project “Enhancing the competitiveness of food products from Vojvodina”, which was conducted by the Vojvodina Development Agency and JICA volunteer expert, food sanitation inspector, Mrs Akiko Terasawa. 40

JAPAN 2024

MARCH

UNDP STUDY VISIT – “INCLUSIVE DECARBONISATION PROJECT”

A study visit was made by UNDP BiH as part of concluding activities on the BiH component of the decarbonisation project “Inclusive Decarbonisation”. JBAS supported two of last year’s UNDP decarbonisation projects (Serbia and BiH), both of which were financed by the Government of Japan. APRIL

HANAMI GATHERING

On the occasion of celebrations marking the traditional Japanese custom of observing cherry blossom, known as Hanami, JBAS organised an extraordinary gathering at Sakura Park in New Belgrade. The gathering was supported by then Ambassador of Japan to Serbia H.E. Takahiko Katsumata and the staff of the Embassy of Japan in Belgrade.

JANUARY

‘HOW TO MAKE IT IN ASIA FROM SERBIA’ AND NINJA DEMO DAY

MARCH

INAUGURAL BATTERY CONFERENCE IN BELGRADE

JBAS invited its members to attend the 1st Battery Conference held in Belgrade, at which they received insight into the present and future of environmentally acceptable solutions in the automotive industry. Robert Lukić, a JBAS BoD member and Toyota Adria marketing director, pointed out that Japanese manufacturers have an increasing number of e-models each year and that autonomous driving has already been a reality in Japan for 10 years.

JBAS members were invited to the “How to Make It in Asia from Serbia” event, which was organised by the Digital Serbia Initiative, together with the Japan International Cooperation Agency (JICA), within the framework of the NINJA accelerator programme. Soon afterwards, a Demo Day event was held at the Digital Serbia Initiative office, where seven start-ups showcased their progress after having gone through the NINJA acceleration programme.

MARCH

55TH INTERNATIONAL MOTOR SHOW IN BELGRADE More than 30 representatives of Japanese companies and corporations enjoyed a special preview tour organised by JBAS and attended by Tatsuro Masuda, First Secretary of the Embassy of Japan to Serbia. cordmagazine.com

EXPO 2025 OSAKA, KANSAI

Glimpse into the ‘Reconnect the World’ project A

Osaka’s grand plan to “reconnect the world” is gradually taking shape. When completed, huge sections of timber will form an enormous walkway encircling a “forest of tranquillity” and pavilions showcasing the history, culture and technology of more than 130 countries, with the host, Japan, at its heart 42

he frames – built using traditional methods that don’t require nails – and construction cranes lend a much-needed dimension to the site’s otherwise barren surface of Yumeshima – “Dream Island” in Osaka Bay. “When people come to the site and see it for themselves, they’re quite relieved by the progress that’s been made,” said Takumi Nagayama, director of maintenance and coordination at the Japan Association for the 2025 World Exposition. “A year ago, there was nothing here, but the ground has

JAPAN 2024

been levelled and the land flattened. The basic foundations are done.” Beginning with the Great Exhibition in London in 1851, world expos have become an opportunity for countries to highlight their history and culture, and demonstrate how they are using social, economic and scientific advances to address the most urgent topics of the times – in Osaka’s case, the quest for sustainable development. World expos are held every five years and last up to six months. The last one opened in Dubai in October 2021, delayed by the pandemic. Osaka secured the hosting rights in 2018 – beating Yekaterinburg in Russia and Baku in Azerbaijan . Guided by the slogan “Designing future society for our lives”, the city is aim to repeat the success of its last expo, in 1970, which drew more than 60 million visitors and confirmed Japan’s transformation from defeated empire into an economic and industrial powerhouse. Of the 50 or so countries due to construct bespoke “type-A” pavilions, which can cost tens of millions of pounds, only two, South Korea and the Czech Republic, are known to have submitted their designs. Just one has applied to the Osaka municipal government for permission to start building. With the clock ticking towards the opening officials and politicians are being forced to think again. The cost of building the venue is expected to rise from the current ¥185bn to more than ¥200bn (€1.16bn to €1.25bn) due to soaring material and labour costs.

Osaka secured the hosting rights in

2018 -

beating Yekaterinburg in Russia and Baku in Azerbaijan

Beginning with the Great Exhibition in London in 1851, world expos have become an opportunity for countries to highlight their history cordmagazine.com

The project is also falling foul of a problem afflicting myriad sectors of the Japanese economy – a chronic labour shortage. The struggle to secure labour will intensify in April, when Japan introduces restrictions on overtime in the construction and other industries. Some of expo’s problems stem from its offshore location. Access is currently restricted to construction workers via an undersea road tunnel that will eventually be open to the public. The predictions are 2.8 million visitors during the six-month event, which is expected to generate about ¥2 trillion for the economy. In August, the prime minister, Fumio Kishida, ordered ministers to redouble efforts to get the event ready on time. ”Preparations for the expo are in an extremely tight spot,” he said. Full-scale national pavilions could be replaced by cheaper, more unified versions constructed by Osaka companies, according to media reports – an approach that would save time and money, but which would remove the qualities that make the exhibition spaces an expression of each country’s history and culture. “Preparations are continuing, and we’re working hard to meet the deadline,” said Sachiko Yoshimura, executive director of global communications at the expo association. “We are working on the assumption that the expo will open in 2025 … there is no talk within our organisation of a postponement.” “Some people have questioned the need for an expo in this day and age,” Yoshimura said. “But we live in a world that has been divided by the Covid-19 pandemic, climate change and the war in Ukraine. The Osaka expo will be an opportunity for us to reconnect.” 43

Bulevar Milutina Milankovica1a,11070 Belgrade, Serbia Tel:381-11-664-1020