Business Partner Greece 2023

H.E. Maria Levanti, Ambassador of Greece to Serbia

Greece’sNon-RecognitionOfKosovo Remains Unchanged

Greece’s stance regarding non-recognition of Kosovo remains unchanged. At the same time, Greece firmly supports the continuation of the EU-facilitated dialogue between Belgrade and Priština and the efforts of Miroslav Lajčak, with a view to reaching a comprehensive agreement that will contribute to strengthening the stability and security of the whole region. In this context, we welcomed, along with the other EU member states, the European proposal to put the relationship between Belgrade and Priština on a new and sustainable footing

When H.E Maria Levanti arrived in Belgrade at the end of 2022, she set as her priorities enhancing and enriching the already excellent relations and political cooperation between Greece and Serbia. She said that she would focus on areas of common interest, such as the economy, energy, connectivi -

ty, culture and education. One of the first visits she paid was to the Serbian National Assembly, the country’s parliament, because she believes that the national parliaments are important channels of communication between the two countries. “Greek-Serbian Parliamentary Friendship Groups are among the largest groups in both the Greek and

~ Maria Levanti

Serbian parliaments and I am very content to realise that they are very active,” adds Ambassador Levanti in her first interview for CorD Magazine.

Your Excellency, your term as ambassador to Serbia began recently. How are you finding life in Belgrade?

Greek-Serbian Parliamentary Friendship Groups are among the largest groups in both parliaments and I am very content to realise that they are very active, with many reciprocal visits

I have always desired to visit your country and, even though I have only been here for a few months, I must confess that Belgrade and Serbia have exceeded my expectations by far. The people I meet are very friendly and genuine; the culture, habits and mentality are quite similar to ours and, of course, the food is excellent. Belgrade has the atmosphere of a big European capital, while - on the other hand - life has a more relaxing pace and rhythm. All in all, I would say that Serbia feels like home and I really can’t wait to explore the rest of the country and all its hidden gems.

You noted upon arrival in Serbia that relations between our two countries are “excellent and friendly, and that the two peoples are connected by a similar mentality, shared history and spiritual closeness.” What do you have planned as your priorities?

Among my first priorities will definitely be the enhancement and enrichment of the already excellent bilateral relations and political cooperation, especially in areas of common interest, such as the economy, energy, connectivity, culture and education. Given that the COVID-19 crisis led to the level of our bilateral cooperation falling significantly, it is time to redefine our priorities and work together for the benefit of both countries. In this sense, the convocation of the fourth meeting of the High-Level Cooperation Council is a top priority.

It was stated during your first meeting with Serbian President Vučić that a new session of the High-Level Cooperation Council between Greece and Serbia will be held soon. Are preparations for this session underway?

A specific date for the 4th High-Level Cooperation Council, which is set to take place in Belgrade, has not yet been set. For our part, we expect it to convene at the earliest possible opportunity, though taking into consideration that national elections are to be held in Greece in the near future.

I am proud to say that not only political relations, but also economic, stand at an excellent level. Total Greek direct investment in Serbia is currently estimated at approximately 1.5 billion euros

One of your first activities in the country was to visit the National Assembly, where you spoke with members of the Friendship with Greece group. In your opinion, how important is bilateral cooperation at the level of parliaments?

It is important to develop and enhance all fields and aspects of bilateral relations and cooperation, including the parliamentarian aspect. Greece attaches great importance to parliamentarian cooperation and the Parliamentary Friendship Groups constitute another channel of communication between our countries, through which we can foster closer working relations and establish and develop re-

Being clear about one’s positions, especially during times of war, is important. I would like to stress that adherence to the sanctions regime should be required from all candidate states, without exceptions

time, Greece firmly supports the continuation of the EU-facilitated dialogue between Belgrade and Priština and the efforts of Miroslav Lajčak, with a view to reaching a comprehensive agreement that will contribute to strengthening the stability and security of the whole region. In this context, we welcomed – along with the other EU member states – the European proposal to put the relationship between Belgrade and Priština on a new and sustainable footing.

How will Greece respond to Kosovo’s candidacy for membership in the Council of Europe and its application to become an EU member state?

It has become clear that there is no unified position of member states with regard to Kosovo’s membership in the Council of Europe and that there are differing views about the timeframe in which it could appear on the agenda. We believe that, in the meanwhile, Kosovo needs to engage more constructively in a substantial dialogue with Serbia, with the aim of achieving progress in normalising relations.

lations with local communities. Greek-Serbian Parliamentary Friendship Groups are among the largest groups in both parliaments and I am very content to realise that they are very active, with many reciprocal visits.

You arrived in Serbia with the message that Greece will not change its stance regarding the unilaterally declared independence of Kosovo. However, Greece is a member of the EU, and Brussels has been increasingly calling on the government in Athens to abandon such a position. Information about diplomatic pressure being applied to compel governments to change this stance has also been confirmed by some of the other countries that don’t recognise Kosovo. Has Greece felt such pressure to conform? Greece’s stance regarding non-recognition of Kosovo remains unchanged. At the same

Do you have plans regarding ways to improve bilateral relations on the economic front, given the excellent relations between our two countries on the political level? In which areas could Greece and Serbia further develop their cooperation?

I am proud to say that not only political relations between Greece and Serbia, but also economic relations, stand at an excellent level. Total Greek direct investment in Serbia is currently estimated at approximately 1.5 billion euros. Greek interest in investing in Serbia is recovering strongly – some significant new investments have already been conducted over the last two years, i.e., the merger of Eurobank and Direktna Bank, the Athens Stock Exchange’s acquisition of 10.24% of shares of the Belgrade Stock Exchange, the construction of the new SuperVero-Jumbo hypermarket in Novi Sad, as well as the emergence of many new Greek SMEs.

It has become clear that there is no unified position of member states with regard to Kosovo's membership in the Council of Europe and that there are differing views about the timeframe in which it could appear on the agenda

The annual volume of bilateral trade in goods and services equated to around a billion euros, while there’s no doubt that it will increase significantly in the future. It is worth mentioning that, according to data of the Hellenic Statistical Authority, bilateral trade reached the amount of 700 million euros in the first 11 months of 2022.

Of course, it is undeniable that there is plenty of room for bilateral economic cooperation to strengthen and improve. The Joint Declaration for the establishment of a Strategic Partnership between Greece and Serbia, signed in December 2019, highlights this potential. Greece is ready to support the Serbian economy, not only by encouraging investments in traditional sectors, but also by contributing to its growth through the sharing of the knowledge and experience gained through its own green transition path and technological advancement. Moreover, Greece is ready to support Serbia’s energy diversification efforts by all means – through the Bulgaria-Serbia Interconnection and its connection with TAP and the LNG terminal in Alexandroupolis.

There is strong interest among Greek companies in cooperating with their Serbian counterparts in sectors like infrastructure and construction, recycling, wastewater treatment, information and communication technologies, tourism, food and beverage trade and agriculture. And we have already taken concrete steps to enhance cooperation between the institutions of our countries in scientific and innovation sectors.

Finally, as stated recently by Prime Minister Mitsotakis, the completion of the Piraeus-Thessaloniki-Skopje-Belgrade railway line is of great importance, as it will facilitate not only trade and transport, but also communication in the region.

Serbia has been criticised harshly for its failure to comply with the EU’s common foreign and security policy when it comes to Russia. How have you, as ambassador to Serbia, understood the arguments of the government in Belgrade?

I can understand the rationale behind the Serbian government’s decisions, as it is faced with a particular situation: it is dependent on Russia for energy, has the open issue of Kosovo and a large part of its people feel

Some significant new investments have already been conducted over the last two years, i.e., the merger of Eurobank and Direktna Bank, the Athens Stock Exchange’s acquisition of 10.24% of shares of the Belgrade Stock Exchange, the construction of the new SuperVero-Jumbo hypermarket in Novi Sad, as well as the emergence of many new Greek SMEs

close to Russia. However, Serbia has stated repeatedly that EU accession is its strategic priority and aligning with the EU’s foreign and security policy has been a requirement since the beginning of accession negotiations. Being clear about one’s positions, especially during times of war, is important. Having said this, I would like to stress that adherence to the sanctions regime should be required from all candidate states, without exceptions.

Greece has also faced a situation that threatens its own territorial integrity in recent times. What is the current situation in the Aegean Sea and are tensions with Türkiye easing?

In the context of its strategic priority of consolidating its position as a pillar of peace, stability, security and cooperation in the wider region, Greece is pursuing the constant improvement of its relations with Türkiye. However, it has faced an unprecedented escalation of provocations and aggressive rhetoric from the Turkish side, which embraced the concept of an anachronistic revisionism aimed against our country’s territorial sovereignty and sovereign rights.

Greece’s position is clear and firm; it cannot be threatened on issues that concern its sovereign rights, which are guaranteed by International Law and the International Law of the Sea, and will not accept any fait accompli in the region. At the same time, Greece is clearly committed to maintaining open channels of communication with Türkiye. In this regard, I would also like to mention that Greece, in the spirit of solidarity, was one of the first countries to mobilise its resources and provide immediate assistance to Türkiye following the devastating earthquakes that hit the country in early February.

As ambassador, you’ve also inherited the tripartite dialogue between Greece, Cyprus and Serbia. How important is this form of cooperation in today’s world, when the crisis in Ukraine has led to increased talk of the possibility of nuclear war and the consequences of the crisis – not only economic, but also political – are also being felt in our region?

Greece deeply values regional cooperation, as an important instrument that actively promotes dialogue, coordination and development at a peripheral scale. The first trilateral meeting between Serbia, Greece and Cyprus was held in Belgrade in 2021. Our foreign ministers discussed the prospects of developing multilateral cooperation, promoting synergies and establishing joint activities in a number of areas, such as energy security through energy diversification and transport connectivity. I believe that, in the current complex geopolitical framework, the tripartite dialogue can be of even greater added value, serving as a tool to strengthen our collaborative efforts and actions in a broad range of economic fields and upgrading political communication and coordination among our three countries.

EKO Serbia,ServingTheCommunity

EKO Serbia has marked the opening of a new petrol station in Čačak by donating fuel to the social protection services centre Zračak, which will provide all its users with safe transport home

The new filling station operates in accordance with the most modern technical, safety and environmental standards, and is fully adapted to the demands and expectations of drivers.

EKO Serbia, a member of HELLENiQ ENERGY, has expanded its network to 57 petrol stations by opening a new station in Čačak. On this occasion, EKO Serbia donated funds for the purchase of fuel to the Zračak social protection services centre.

“In line with our business development plans, we are continuing to expand the EKO retail network in Serbia, maintaining high standards of product quality and providing the best services to our customers. At the same time we are contributing to the needs of the local community, donating fuel to the Zračak Centre, which will provide all its users with safe transport home. As a socially responsible company, we continue to support the local communities in which we operate”, said Aris Karousos, CEO of EKO Serbia.

The Zračak centre in Čačak has 256 users, and the donation is intended for a specialized van to transport users who live in rural areas.

“We would like to thank EKO Serbia for this donation”, says Ana Jakovljević, director of the Zračak social care centre. “It will enable our users to have easier access, above all to the day care centre, which provides the opportunity for people with developmental disabilities to stay in a family environment, and to use their opportunities and integrate into the community. This donation is also important for other services for people with disabilities and the elderly”

The new filling station in Čačak is open 24 hours a day and offers a complete portfolio of fuel products, including high-quality premium category fuels - Diesel Duplo Filtered and EKO

Racing 100 RON. Consumers also have at their disposal the completely modernised Kalypso minimarket, premium coffee in the Coffee Corner, and a carefully selected range of consumer goods, car cosmetics and EKO motor oils. At all EKO Serbia stations, consumers can join the EKO Smile loyalty programme, which rewards every purchase with points that can be exchanged for useful and valuable gifts, and until 12th March, every customer who fills up 15 or more litres of fuel receives a gift.

EKO Serbia a.d. is a member of the HELLENiQ ENERGY business group, the leading integrated energy group in Greece and the south-east European region Its activities include the production, supply and trade of all types of energy, with an increasing focus on clean energy and renewable energy sources. Since its foundation in 2002, the company has invested more than 100 million euros in Serbia. Their network has 57 filling stations under the EKO brand, which is undeniably synonymous with reliability, quality and excellent service. The main goals of the group are to achieve a leading position as an innovative international leader in the energy business, to be the first choice of consumers by offering top quality products and services and safe working conditions, while respecting the environment and consumers and providing a social contribution to the community.

There are 57 filling stations in Serbia under the EKO brand, which is undeniably synonymous with reliability, quality and excellent service

Committed To DevelopmentAndCooperation

Nikolaos Sliousaregko, President of the HBA Management Board

The crisis in Ukraine has led to economic uncertainty at a global level, and economic growth will certainly slow sharply during 2023. It is expected that the war will continue to impact not only supply chains, but also the global economy as a whole, with rising inflation and high interest rates fuelling possible recession. European is particularly exposed to challenges as a result of its dependence on imports of gas and oil, which is why great work is being done to identify alternative sources of energy. 1

Despite the numerous challenges confronting us, Greek companies in Serbia have recorded stable operation during the period of crisis. Moreover, data exchange on goods trade between Serbia and Greece for 2022

1 https://www.forbes.com/sites/ chloedemrovsky/2023/01/18/supply-chainand-ukraine-shaped-a-hectic-year--whatwill-2023-bring/?sh=55d635796358

indicate a slight increase compared to 2021, when exports totalled a value of approximately 300 million USD, while imports were worth 534 million USD ~ says Nikolaos Sliousaregko, President of the HBA Management Board. “During the previous year, our association increased with several new members – new Greek companies on the territory of the country, from the SME sector. Simultaneously, the presence in Greece of very successful Serbian companies was noted during the previous period, through franchises and distribution in the sectors of cosmetic products, sportswear and sports equipment”.

How are HBA member companies weathering the crisis?

Rising energy prices and inflation are a challenge to big part of the corporations. When it comes to our members, Greek companies in Serbia are taking on challenges that are also

confronting all other domestic and foreign businesspeople, and those are aggravated transportation – both from territories hit by war or sanctions and from EU countries and China, due to high transportation costs and more difficult access to available capacities for transporting goods. Also, the search for labour has started to be a considerable problem for further development.

Searching for new suppliers, turning to solar power energy and importing workers seem like the first solutions that started to be adopted by Greek businesses.

Would you say that the current business environment is conducive to growth? How could it be improved from the perspective of your members?

Over the past few years, the Government of Serbia has remained consistent in implementing the programme of structural reforms and has improved the business and investment climate significantly. It is very important that promotion and investment in improving the infrastructure continues the following decade, along with the planned construction and modernisation of roads, railways, bridges

Thanks to the strong support of its member companies, the Hellenic Business Association has spent two decades promoting not only economic ties between Serbia and Greece, but also social and cultural links

COMMITMENT PROGRESS CONTRIBUTION

Greek investors are stable partners to the Serbian economy, testifying to which are the successful long-term operations of numerous companies

Despite numerous challenges, Greek companies in Serbia have recorded stable operations during the period of crisis, while the trade exchange between Serbia and Greece increased in 2022

Total Greek FDI in Serbia is estimated at around 1.5 billion euros, while direct and indirect investments over the past 20 years exceed a value of 2.5 billion euros

and ports. The Government is also directing efforts towards investing in healthcare, and the fact that Serbia embarked on the green transition path during the previous year is also important. Alongside this, we should also mention the IT sector as the fastest growing sector in Serbia. At the same time, there are existing challenges that are being faced not only by Greek companies, but also by all other companies operating on the Serbian market, the greatest of which are long-term harmonisation with EU regulations and complicated procedures for obtaining various permits for doing business as well as import-export procedures. Serbia is nevertheless one of the few countries in Southeast Europe where foreign companies have found the right place for development and stability.

The HBA is this year celebrating its 20th anniversary. Looking back, what would you single out as the HBA’s top achievements during this period?

The Hellenic Business Association was founded at the initiative of several Greek business leaders who decided, back in 2003, to establish a platform for connecting and cooperating between members of the Greek business community in Serbia. This idea was brought into practise and functions very successfully today. Thanks to the strong support of its members, the HBA promotes not only economic ties between Serbia and Greece, but also social and cultural links. Over the course of the past two decades, we’ve organised numerous activities and initiatives aimed at promoting mutual networking

among our members, but also connecting them with domestic and foreign companies operating on the market, while we’ve also had an opportunity to meet with the highest officials of Serbia and Greece. By implementing initiatives that promote our shared historical and cultural heritage, we have – at the same time - fostered the concept of friendship between our people, and demonstrated, through projects of a humanitarian nature, the social responsibility of Greek investors and their respect towards the host country.

When it comes to investments in Serbia, how much has the investment climate evolved, but also the interest of Greek companies? The implementation of macroeconomic reforms of multiple years, financial stability,

investment incentives and free trade arrangements with key markets, primarily that of the European Union, are the most significant factors that have contributed to improving conditions for foreign investment. Greek investors are evidently stable partners to the Serbian economy, looking at the long-term successful operations of numerous companies, such as Autostop Interiors, the Hellenic Sugar Industry, Alumil YU Industry, Kleemann, EKO, Isomat, Titan, Super Vero, the Lapsa Group, the Daskalantonakis Group and many others. There is still interest in investing in Serbia, with a focus on small and medium-sized enterprises, but also through the new investments of companies that are already present on the Serbian market. During the previous year, Eurobank conducted the merger process with Direktna Bank, which represents one of the most important business activities of Greek companies during the previous period, given that it confirms the stability of the Greek banking presence in the country. Super Vero also expanded its operations beyond Belgrade late last year, with the opening of a new hypermarket in Novi Sad. Apart from this, the successful enduring cooperation and growing business ties between the Athens and Belgrade stock exchanges resulted in the Athens Stock Exchange purchasing of 10.24% of total shares of the Belgrade Stock Exchange, which will join the trading platform that the Athens and Cyprus stock exchanges already operate on, thereby improving its liquidity and range of services.

Among the many sectors in which Greek investors are present, the banking presence used to have prominent place. Which sectors of the Serbian economy today have the most Greek companies in terms of turnover?

Four Greek banks marked not only the Greek investment presence over a specific period, but also represented a significant part of the entire country’s banking sector. Given that Greek companies, apart from those in the banking sector, have been active in almost all areas of business in Serbia for two decades, the sectors that stand out as being the most successful in the following years are the hotel industry and construction, the cement and sugar industry, the sector of petroleum trade, the manufacturing of construction materials and aluminium profiles, food and beverage

retail, the service sector etc. Total Greek FDI in Serbia is estimated at around 1.5 billion euros, while direct and indirect investments over the past 20 years exceed a value of 2.5 billion euros.

Today, thanks to EU support, the Green Agenda for the Western Balkans has a much greater presence in Serbia’s policy agenda. To what extent are Greek companies involved in the circular economy, wastewater treatment, waste management and construction in Serbia? Greek companies, the largest of which are the Aktor and Terna groups, are very active in the Serbian construction sector and have been responsible for implementing numerous projects of interest to the state and the public. When it comes to waste management, the Viohalco Group has been dedicated to the development and adoption of production processes that protect the environment in Serbia for many years, but also to providing high-quality services within the scope of a sustainable economic environment harmonised with nature.

As far as wastewater management is concerned, a Greek company is already close

to signing contracts for the first mobile wastewater treatment facilities, while very soon, provided all goes well, we will probably see a production unit in this sector in the country. At the same time, the Greek energy sector is itself going through a major transformation, given that the decision to close down coalfired thermal power plants was made under a very short deadline, which is why Greece turned to capacities that use renewable energy sources. The ascent of RES-based energy projects, which are mostly based on solar and wind energy, also testifies to the expertise of Greek companies in this sector, which could play a significant role in implementing the Green Agenda for Serbia . They could additionally contribute to it being applied in the fields of the circular economy, wastewater treatment, waste management and the protection of nature and biodiversity. Greek companies that are already present in the construction sector could also participate in implementing the plan.

Given your personal knowledge of the hospitality industry in both Serbia and Greece, could you tell us what we can expect from the upcoming 2023 tourist season?

The tourism industry in Serbia is developing constantly. According to results from 2022, the number of overnight stays doubled compared to 2021 and amounted to 12.3 million overnight stays, exceeding the forecasts from 2019 by more than 20 per cent. There have been continuous investments in new hotel units over recent years, by both domestic and foreign investors. In Belgrade, for example, we have gone from having 65 hotels in 2014 to reaching a total of 122 in just six years, and that includes the arrival of world-renowned brands. Of course, the trends and results of each year, as well as the operational policies of certain organisations and ministries for the opening of new markets, visas etc., have a positive effect, provided we exclude the two tragic years of the pandemic. Of course, we are monitoring the development of two topics with concern: the inflationary pressures appearing in many countries, but also the course of the crisis in Ukraine, which influences a large part of the tourist market. The results from January and February are nonetheless very positive for tourism industry flows during 2023, while many markets that closed due to the pandemic are expected to reopen.

Despite certain operational challenges linked to complicated procedures, Serbia is one of the few countries in Southeast Europe where foreign companies have found the right place for development and stability

More Than 25 Years Of Excellent Service

Cycle Credit forms part of ICAP Outsourcing Solutions, a company that has more than 2,800 employees and operates, apart from Greece, in Bulgaria, Serbia, Romania and Cyprus. This company plays a leading role in debt collection and notification in the loan restructuring industry

Explaining his company’s leadership position, Mr Alevizos says that it is based on the constant training of employees, advanced infrastructure and expertise, which supports the main effort: ensuring customer satisfaction. This is also the pathway that Cycle Credit will follow in the future.

What do we need to know about your company? What distinguishes you among the competition?

Cycle Credit is a member of ICAP Outsourcing Solutions Group and contributes with a leading role in debt collection and notification in the loan restructuring industry. Over and above the aforementioned, we are almost ready to establish Contact Centre Services in Belgrade, which will be supported by the very well-recognised Contact Centre in Athens that has been provided advanced call services for more than 15 years. Cycle Credit has more than 25 years of experience in the Balkans, which is something that creates a positive impact on the functioning of markets. Our competitive advantage makes a difference in three ways: the constant training of our employees, advanced infrastructure and our expertise, which supports the main effort: ensuring customer satisfaction.

When it comes to ICAP Outsourcing Solutions Group, I would like to add that it is a group of companies that provide services

regarding outsourcing and HR, customer services and the promotion of products and services (by telephone and alternative communication channels), consulting services for recruitment & selection, training and development of

human resources, B2C and B2B claims information and management services.

We provide a wide range of high quality and innovative services that add value to organisations and companies from all business sectors, such as banks, insurance companies, manufacturing, telecommunications, retail, tourism, IT, technology and health services.

Apart from the enviable experience and expertise of your employees, what else helped you to secure your leadership position?

Cycle Credit’s leadership position is based on the fact that it has served more than 25 million cases (individual debtors and companies) and had over 350 collaborations during a period of time fraught with economic changes and readjustments. All of the aforementioned has tested our flexibility in handling each situation effectively. We take a holistic approach to finally have the best results, for both stakeholders and the society. This all ensures that we are a reliable partner to choose.

What’s included in all the services you offer through your ICAP Contact Centre? Is it possible that you can make or receive more than 180,000 calls per day?

I would like to mention that we are really proud that our Contact Centre supports more than 180,000 communications (inbound, outbound, chat, email) per day. The Contact Centre focuses on customer care and outbound services. Customer care uses several operational models (full outsourcing, overflow, IVR category split), in order to handle each project effectively. Our well-qualified and experienced agents respond to challenges every day, offering high-quality support to our clients. So, I would say that our employees are our unique asset and, with our modern infrastructure and technological support, we provide services that create an enduring relationship with our clients.

Ilias Alevizos, President & CEO, Cycle Credit company, ICAP outsourcing solutions group

We take a holistic approach to finally have the best results, for both stakeholders and the society

Iosif Vangelatos, General Manager, Inos Balkan

Greece Is Back

journey towards European Union integration in political and technical terms, but also in financial and investment terms.

I moved to Serbia with my family back in 2013, when the Stabilisation and Association Agreement (SAA) between the EU and Serbia came into force, and I am proud that our organisation has also contributed to the development of the Serbian economy as a foreign investor. However, I am even more proud to witness the changes taking place in the Serbian economy and Serbian

Inos Balkan is a 70-year-old company that sources secondary raw materials to service the national and regional metal industry. They consider this geographic area in terms of a home market for them, both for their products, as well as for the procurement of raw materials

Inos Balkan General Manager Iosif Vangelatos moved to Serbia with his family a decade ago. He is proud that his company has contributed to the development of the Serbian economy as a foreign investor and believes that Serbia has a secure journey towards European Union membership.

Serbia’s total FDI from Greece is estimated at approximately 1.5 billion euros, while direct and indirect investments made over the last 20 years exceed a value of 2.5 billion euros. Inos Balkan has also contributed to that total... Are you proud?

Lots of words have been said and written about the strong relations between Greece and Serbia. These are timeless bonds based on religion, history and common struggles. Nevertheless, it is more than that. Greek companies immediately responded to Serbia’s need for foreign direct investments back in the early 2000s and supported the Serbian economy at that crucial time. Greek firms were among the first to invest in Serbia, proving their faith in the future of the Serbian economy in practise. Let’s not forget that the ten-year Greek fiscal crisis placed a severe burden on the expansion of Greek entrepreneurship. But Greece is back and ready to support Serbia’s

society; changes that will secure Serbia’s pathway to European Union integration and the prosperity of the Serbian people.

Back in the early 2000s, we were not able to boast of having a well-organised recycling sector, despite Inos Balkan – the company you took the helm of at that time – having spent decades dealing with the procurement of secondary raw materials. How did you recognise the potential?

The acquisition of Inos Balkan in the early 2000s was part of an integrated strategic plan of our group for expansion across the Balkan region. We consider this geographic area in terms of a home market for us, both for our products and for the procurement of raw materials. Our Steel segment - Sidenor Group - is the biggest recycler in the region and we are always trying to support our productive investments with efficient supply chain networks, while contributing to global efforts to create a low carbon economy and manage resources sustainably.

It was a challenge to enter the recycling sector back in the early 2000s. The legal

As part of our ESG roadmap, respecting the natural environment is one of our core business principles

framework was not yet fully developed, while the state was trying to empower its auditing mechanisms. However, we had in our arsenal adequate expertise and available financial resources. Above all, we were confident that we could seize the opportunities created by Serbia harmonising its regulations with the European acquis.

Even though a lot has already been done, it remains essential to further simplify administrative procedures. Would that bring new investments, environmental protection and fair competition to our country’s recycling sector?

I have to agree with you that a lot of progress has been observed in terms of simplifying administrative procedures. Serbia has risen to 44th position on the Ease of Doing Business Index, according to the latest World Bank annual ratings, despite being ranked 93 rd just a decade ago. Simplifying administrative procedures has great weight on that index. However, a lot of essential issues could be further addressed. This is especially so when it comes to the environmental protection sector. The complex procedure for acquiring the necessary environmental permits for an investment is a severe delay factor. Small improvements, such as in communications between public services and the ex officio request of records and documents, as well as increased utilisation of digital tools, may further simplify administrative procedures while increasing transparency levels.

The policy of harmonising with the natural environment is one of your core business principles and forms part of your portfolio of corporate values, but not obligations. Is that precisely what sets you apart from the competition?

As part of our ESG roadmap, respecting the natural environment is one of our core business principles. We join forces with the rest of the world in the direction of creating a carbon neutral and circular business model. Thoroughly monitoring our activities enables us to measure our performance and deploy our policies with accuracy, in order to achieve our sustainability targets.

You have succeeded in tripling the amount of secondary raw materials you process in

recent years, while you are striving to further increase the volume of your operations. How have your plans been impacted by country global crises, including the war in Ukraine? The crisis of the COVID-19 pandemic, with the corresponding fiscal measures that governments all over the globe adopted to safeguard against the upcoming recession, as well as the war in Ukraine, created unique turmoil for the world economy. After almost three decades, our economies again had to face runaway inflation, while scenarios for a severe global economic recession were again on the table. Uncertainty was the key element that had to be handled by policymakers all over the word. We could not be the exception to this rule. We tried to secure our supply chains against any potential disruption and to mitigate all potential risks coming from price fluctu-

ations in metal commodities and energy costs. We set preserving our cash liquidity as a major priority, as well as supporting our employees during this turbulent time.

Inos Balkan is a member of the Hellenic Business Association of Serbia, which will celebrate its 20th anniversary at the end of this year. Do you think this association has fulfilled its mission of strengthening economic relations between our countries? The Hellenic Business Association was established during a difficult era for the Serbian economy. Some pioneers decided to blaze a trail for more investors to follow their lead. The Hellenic Business Association was, is, and will continue to be, a reference point for every Greek entrepreneur or executive who would like to establish business activities in Serbia. It is a well-established organisation that’s able to provide secure information and consultancy on many different aspects of business activities – from labour related legislation, to taxation issues and lobbying. Numerous activities carried out on an annual basis bring its members into contact with the core developments of the Serbian business environment, while promoting business opportunities in both countries.

Serbia has risen to 44th position on the Ease of Doing Business Index, according to the latest World Bank annual ratings, despite being ranked 93rd just a decade ago

Milan Čotra, Executive Chef of Hyatt Regency Belgrade

OfficiallyAmong The Best

Thanks to a fantastic team led by a top chef and specialities that represent a combination of traditional Serbian and international cuisine, restaurant Metropolitan Grill was recently included in the 2023 Michelin Guide

authenticity and global diversity that every guest has the opportunity to experience.

Restaurant Metropolitan Grill each week organises Sunday lunch - The Food Affair, the concept of which as of this year includes a culinary journey around the world. In addition, the restaurant also has its Chef’s Table, as an innovative experience of preparing specialities from a carefully devised menu, together with unforgettable socialising and learning about food.

What was the ace up your sleeve that led to your inclusion in the 2023 Michelin Guide?

What is it that amazed even those who have the most refined palates?

Our main advantage is love for our work, as well as mutual assistance and the incredible positive energy that encourages the team to improve and advance. Our specialities are a fusion of traditional Serbian and international cuisine, so our culinary team conveys the authenticity of culture with every morsel. It is a great honour for us to have been included in the 2023 Michelin Guide and to have thus received confirmation for our many years of effort and creativity.

Chef’s table represents an innovative concept of preparing specialities from our carefully devised menu in the restaurant’s kitchen with our team of experienced chefs

Every week at the Metropolitan Grill restaurant we organise Sunday lunch - The Food Affair, the concept of which has – as of this year – included a culinary journey around the world. We thus have opportunities each month to host chefs from different countries who prepare food live in front of the guests. Alongside fantastic specialities like oysters, sushi, steak and traditional dishes, guests can enjoy live music, while the youngest can participate in culinary activities and creative workshops.

As we’re already on the topic of your team, we can’t avoid asking you to tell us more about the unique concept that you implement called Chef’s table... What is it about?

Are you among those who find joy in constantly discovering other cultures, lifestyles, foods etc.? If that wasn’t the case, you surely wouldn’t be able to boast of having such rich and enviable experience, a wonderful team and satisfied guests.

I consider it the responsibility of every individual to familiarise themselves with different cultures and occasionally change environments in such a way that they selflessly share their experiences with others. It is my pleasure to share my rich experience with colleagues in my home country, and to then together create a unique combination of local

We are a team that works continuously to connect and improve interpersonal relations, so I can boast of the fact that we contribute every day to building the careers of excellent young chefs. Chef’s table represents an innovative concept of preparing specialities from our carefully devised menu in the restaurant’s kitchen with our team of experienced chefs. This is an activity that encompasses food preparation, unforgettable socialising and learning about food, thus creating a great experience. We are proud that we are able to transfer the atmosphere of our team to others and create an environment that’s ideal for team building activities, celebrations or a unique experience for all lovers of excellent food.

Efthimios Partsalis, CEO, Intracom Telecom subsidiary in Serbia

Pert Tu WithArtificialIntelligence

The EU has been working actively to promote the development and deployment of 5G networks across the region. Intracom Telecom has been part of this initiative from the outset, developing its wireless networks portfolio to support the high demand for broadband connectivity in 5G backbone multi gigabit networks

Being fully aligned with the need to support sustainability - not only in telecoms networks, but in every aspect of people’s lives - Intracom Telecom also focuses on providing a comprehensive portfolio of Smart Sustainable City & Enterprise solutions. That is our near future.

As more devices become connected to the internet, the demand for fast, reliable connectivity will only continue to grow. What is Intracom Telecom developing in terms of network equipment?

All products that work in MW and mmW spectrum are now built to support 5G transport networks. Moreover, Intracom Telecom has in its portfolio WiBAS™, a complementary product to 5G for fixed broadband access, which can enable operators to provide broadband connectivity to their customers, especially in rural and semi-rural areas, where it is not economically viable to build 5G or optical networks.

Artificial Intelligence seems to be an important element of the digitalisation process. Is Intracom Telecom ready to address this challenge?

Yes, this is true. We see AI as being the differentiating factor topping every solution we build. We have succeeded in having a comprehensive offer, including modules for Big Data clusters that we developed on our own, like cluster Monitoring & CI/ CD pipelines, as well as a multidisciplinary team of skilled experts, starting from

systems administrators, developers and data engineers, to ML engineers and data scientists. With such a strong team, we develop AI-powered applications on top of our products, while we are also working

hand-in-hand with our customers to build solutions for them, working closely with their business teams and IT experts.

How do you imagine the smart city of the future?

Smart cities have been a hot topic in the technology industry for several years, but there is still a long way to go before we can say that we have truly realised the full potential of smart cities. At its core, a smart city is a city that leverages data, technology and infrastructure to improve the quality of life of its citizens, while also reducing its environmental impact and increasing economic efficiency. The same applies to enterprises, which need to monitor their assets, premises and power consumption in order to formulate and enforce their operational optimisation and sustainability strategies. Intracom Telecom, with its leading IoT orchestration platform uiTOP™, addresses demands for smart organisations, covering all vertical applications from smart lighting to environmental protection and energy management. The true benefits of a smart use case can be seen in a combination of leveraging IoT data and artificial intelligence, which is what Intracom Telecom did for the project in our region’s largest city. In this case, our uiTOP™ platform was used in combination with our artificial intelligence Cognitiva™ platform to predict air pollution, bringing the city’s authorities and citizens more actionable insights on the state of air pollution in their city and ultimately helping to protect health.

With such a strong team – comprising systems administrators, developers, data engineers, ML engineers and data scientists – we develop AIpowered applications

Commemorating the 140th anniversary of the birth of Nikos Kazantzakis

From Controversial Thinker To Cultural Treasure

You may have heard of Nikos Kazantzakis, but where has this most celebrated name crossed your path? Perhaps at the airport that’s named after him as you arrive in Heraklion. Or in the opening credits of the film Zorba the Greek. One of Greece’s most successful writers and philosophers, he received wide acclaim around the world

Aman after our own hearts, he was a great traveller who understood that travel would open up a person’s soul and feed his nature, and that understanding another man’s culture was the key to understanding one’s own.

Ironically, there has perhaps been no other writer who was so strongly judged, harassed and slandered, and yet hailed, as much as Nikos Kazantzakis. The popularity of his work ultimately far outweighs the social, religious and political criticism he received, and to the people of Crete his work will always be considered timeless and instructive.

WHO WAS NIKOS KAZANTZAKIS?

Born in Heraklion on 4 th March 1883, Kazantzakis attended Law School in Athens and Paris, where he received his doctorate. He would only later delve into the world of Greek literature, submitting plays to competitions and writing under pseudonyms for newspapers and magazines. The written word became his passion, and his love of philosophical writers like Dante, Homer and Nietzsche would fuel his passion and convert his philosophical thought into a plethora of plays, poems, essays, novels, and everything in between.

Kazantzakis travelled the world, and from 1927 began an anthology series of travel articles detailing his experiences. He published travelogues of his trips through Spain, Egypt-Sina, China-Japan, Russia and England. He mused consistently on different world views in his many philosophical writings and translated works like Dante’s The Divine Comedy with a view to bridging the gap between different cultures. He eventually rose to fame for his own contributions to literature and philosophy and was nominated for a Nobel Prize a total of 14th times!

To himself and many of his admirers and peers, his work was centred around his Cretan beliefs that love and freedom should be at the heart of all things. He was a free thinker, much like Sigmund Freud and Henri Bergson, whose works he greatly admired, but he wasn’t so quick to please everyone. The attitude of the Church of Greece towards Nikos Kazantzakis was that of a sour apple. They marked his writings as blasphemous and felt his grandiose ideas were religiously ignorant. In particular, The Last Temptation of Christ was deemed disrespectful to God and the clergy, and the Church demanded it be banned from circulation. He would be plagued by controversy and regularly hailed as a sympathiser to asceticism and atheism

until his dying day, 26th October, 1957.

Despite all this, the renowned writer and thinker is considered a cultural treasure.

Prior to his 1957 death, he brought to life a plethora of works that solidified the effect of his Cretan talent worldwide. The most

notable of his works are his philosophy book Askitiki: The Saviours of God, published in 1927, the epic poem The Odyssey: A Modern Sequel, representing a follow-up to the celebrated fiction Ulysses, and prose works Zorba the Greek and The Last Temptation

of Christ – with the latter work sparking the most controversy within the Roman Catholic Church and the Greek Orthodox Church.

THE ODYSSEY: A MODERN SEQUEL

This mammoth epic poem tops out at an impressive 33,333 verses. It was considered by Kazantzakis himself to be his greatest and most important work. It took 14 years, from 1924 to 1938, for him to deem the work fully complete. The Odyssey begins with Odysseus returning to Ithaca an unsatisfied hero, one who remained a wanderer and had yet to achieve true freedom.

THE LIFE AND TIMES OF ALEXIS ZORBAS AKA ZORBA THE GREEK

It was in 1915 that the author, along with his friend I. Skordilis, planned to bring timber down from Mount Athos. This failed experience, along with another similar one, in 1917, where he tried with worker George Zorbas to exploit a lignite mine in Mani, inspired the much later the novel Zorba the Greek, which was published in 1946. The story portrays Zorbas as the personification of man’s primitive instincts and wild curiosities. No four

walls could confine a man whose personality could burst forth at any moment. Inspired by his carefree nature and incorruptible lust for life, Kazantzakis put pen to paper and a masterpiece was born that would go on to be translated into 34 languages.

The character of the real Zorbas would later be described from Kazantzakis as “an excellent eater, drinker, and hard worker”. Kazantzakis received posthumous critical acclaim when Zorba the Greek was adapted for the 1964 triple-Oscar-winning film featuring the music of Mikis Theodorakis.

THE LAST TEMPTATION OF CHRIST

As with many creative people, the character of the ‘tormented artist’ was strong within Kazantzakis. He was regularly tormented by restlessness, anxiety and metaphysical and existential agony.

“When I write, my fingers get covered not in ink, but in blood. I think I am nothing more than this: an undaunted soul.”

This is never more evident than in his work The Last Temptation of Christ, which tells Kazantzakis’s personal version of the Biblical story of Christ.

The novel narrates the love and passion of a man: Jesus of Nazareth. The son of a carpenter, this man would love to fall in love with a woman and have a family, but the voice of God explodes in his soul, arming him with the force of more than a thousand armies,

imposing sacrifices and martyrdoms on him. The inner conflict of this man, between flesh and spirit, his rebellious instinct and his irresistible desire to be united with God, emerge here in a narrative mural that glorifies the supreme sacrifice of Christ. On the cross,

now dying, Jesus has a vision: what would his life have been like had he not followed God’s call. It is indeed the last temptation, the temptation that Christ rejects by dying for the whole human race. Perhaps one of the most controversial works of all time, Kazantzakis’s work made it onto many lists of banned books and caused the Roman Catholic and Greek Orthodox churches to reach agreement on something for the first time since 1054. Martin Scorsese adapted the book into a 1988 film of the same name, thus reigniting the controversy three decades on.

EXPLORE THE LEGACY OF NIKOS KAZANTZAKIS IN HERAKLION

NIKOS KAZANTZAKIS MUSEUM

The Nikos Kazantzakis Museum pays tribute to this important intellectual, author, thinker, philosopher, politician and traveller. Comprising a cluster of buildings in the central square of the historical village of Varvari, today known as Myrtia, the museum’s exhibition is housed on a site formerly occupied by the home of the Anemoyannis family, who were related to Kazantzakis’s father, Kapetan Michalis.

The Museum was founded in 1983 by set and costume designer Yiorgos Anemoyannis, a pioneering figure in Greek theatre. His main aim was to preserve the author’s memory and promote his work and thought. Significant assistance was offered by Eleni Kazantzaki, the author’s second wife.

The museum’s opening ceremony was held on 27th June 1983.

NIKOS KAZANTZAKIS’S GRAVE

Head to the highest point in Heraklion, to Martinengo Bastion atop the Walls of Heraklion, and you’ll find the grave of Nikos Kazantzakis. From here, the view across the city, wide and grey from this vantage point, is juxtaposed by the deep blue of the Mediterranean and the fresh greenery of Mount Juktas to the south. A moment here takes you back to how it is described in the beautiful prose of the opening scenes of Zorba the Greek. Years later, the story of Crete is ever-changing yet forever remains the same. An epitaph is etched upon the grave of Nikos Kazantzakis that seems to

sum up his history here: “I hope for nothing. I fear nothing. I’m free”.

THE ‘K’ SUITE AT LEGACY GASTRO SUITES

The celebration of Nikos Kazantzakis is the heart and soul of the K Suite at the Legacy Gastro Suites in Heraklion. The K Suite is dedicated to Kazantzakis himself, and no detail has been disregarded. From the

chestnut, a wretched little brazier, the sound of the sea. Nothing else.”

spectacular bookcase that frames the bed (with Kazantzakis’s books and the authors who inspired him), to the writing desk next to the wide window overlooks the sea. From here you can cast a gaze over Crete as though through the eyes of Zorbas:

“I felt once more how simple and frugal a thing is happiness: a glass of wine, a roast

The twelve boutique luxury suites at Legacy Gastro honour a sense of grandness and luxury. You feel like royalty as you step into this world of fine dining and opulent furnishings. But the true reason to spend a relaxing break here is to celebrate Crete’s finest creations. The exquisite local gastronomy, and discovering Cretan culture through Nikos Kazantzakis, painter El Greco and poet Vitsentzos Kornaros. This is an experience of Crete like no other, where everything comes together to offer you the best possible way to understand the Cretan culture and nature. His legacy will burn bright as generations still to come fall in love with the works of Nikos Kazantzakis and the Cretan way of life. As you pound the pavement and explore the wonders of Crete, whether it be the scent of indulgent coffee mixed with the freshness of the sea on the breeze, the vibrant colours of paintwork or summer flowers framing every building, or simply the chance to relax on the beach. Remember to seek a little further and sink a little deeper into its history; to cherish the works of incredible personalities, like Nikos Kazantzakis, who have made it what it is today.

Fanina Popaz, Executive Director of the Hellenic Business Association of Serbia

Friendship And Shared Interests

Since its establishment, the Hellenic Business Association of Serbia has been undertaking activities that are aligned with its basic objectives of better connecting the Greek and Serbian markets and improving economic cooperation between the two countries. On the occasion of the 20th anniversary of the inception of this association, we spoke with its executive director, Fanina Popaz, about the economic environment in Serbia, the objectives of the association and its most important activities directed towards helping the membership,

but also the broader investor community and Serbian society as a whole.

What are the most important current interests of the Greek business community in Serbia that your association promotes today?

The interests of the Greek business community relate, first and foremost, to doing business in an environment that’s safe for investment, to unhindered channels of communication with Serbian and Greek institutions, as well as to opportunities for networking and establish-

The Hellenic Business Association of Serbia represents very diversified Greek business community in Serbia, and reflects it’s successes in confronting numerous challenges and economic circumstances, in both Serbia and Greece

ing cooperation with domestic and foreign companies in the country. In this sense, the Association acts as a representative of the Greek business community in Serbia and provides its members with full support in the protecting of their business interests.

Are you satisfied with the quality of dialogue between the HBA and Serbian institutions?

Bilateral business associations represent not only the interests of foreign investors, but also those of the local private sector in the country, and in that sense maintaining an open dialogue with the Government is important to the further improvement of both the business climate and the investment environment. Our cooperation to date with representatives of Serbian institutions has proven successful, given that they’ve always shown a readiness to provide us with answers to questions related to the operations of our member companies, as well as supporting us and participating in the organisation of joint gatherings. We have developed cooperation with all bilateral business associations and chambers of commerce in the country, which enables Greek companies to exchange contacts and network with both local and foreign companies.

The Association also implements humanitarian initiatives. What activities did you organise in the previous period?

During the first two months of the year, two initiatives of a humanitarian and donation nature were implemented.

With the support of our members, we organised a humanitarian lottery on Christmas Eve for the second consecutive year. The money collected through this year’s lottery was donated to the “Always With Children” Association of Citizens for the Struggle against Childhood Cancer. We are very proud of this initiative, given that our members thereby, through this joint action, demonstrate their social responsibility and their awareness of the need to donate and help. The following month saw the Hellenic Business Association of Serbia award scholarships to study the Greek language to students of the University of Belgrade Faculty of Orthodox Theology. We are also implementing this initiative for the second consecutive year, in cooperation with the Hellenic Foundation for Culture and with

the blessing of His Holiness Serbian Patriarch Porfirije, with the aim of promoting the Greek language and culture, but also strengthening and improving cultural and spiritual ties between Greece and Serbia.

From the perspective of existing and potential Greek investors in Serbia, which sectors in our country are the most attractive for investment?

Greek economic interests in Serbia are developed in numerous areas of business, such as the hotel industry, construction, banking, the cement and sugar industries, the sector of petroleum trade, the production of construction materials and aluminium profiles, food and beverage retail, the service sector etc. Greek companies have always shown an interest in investing in the countries of the Western Balkans, including Serbia, as a

shared interests of Greek businesspeople in the country, who decided over the course of 2003 to construct a platform for connecting, supporting and promoting the presence of Greek investments in the country. The Greek business community in Serbia is interconnected and really strives to provide selfless support to all its representatives, while some of the Greek businesspeople who participated in the founding of the Association 20 years ago remain active members today. Over previous years, the Hellenic Business Association of Serbia has affirmed itself as a key player in connecting the Greek and Serbian economies and today addresses official institutions in both countries on behalf of the interests of its members. Thanks to the strong support of its member companies, the HBA promotes not only economic links, but also social and cultural ties between Serbia and Greece. Apart from that, the HBA represents very diversified Greek business community in Serbia, and reflects it’s successes in confronting numerous challenges and economic circumstances, in both Serbia and Greece. The Hellenic Business Association of Serbia is developing constantly, as it adapts its activities and priorities to match the needs of its members and the market under the given economic circumstances.

What will your work prioritise moving forward in 2023?

country with which they share - apart from common economic interests – very good bilateral relations and traditionally friendly ties. Under economic circumstances in which the economic and investment plan for the Western Balkans is being implemented actively, and in which the Green Agenda plays a significant role, Greek companies that possess expertise in the field of renewable energy could play a significant role in the further implementation of RES.

Observing the HBA’s work over the past two decades, what would you highlight as being the Association’s most important strengths?

The Hellenic Business Association of Serbia was founded on pillars of friendship and the

Throughout 2023, we will continue supporting the operations of our members, in communication with institutions, expanding our network of contacts with local and foreign companies in the country, but also by promoting their products and services through internal channels of communication. Our activities will encompass the organising of training courses and workshops for middle and top management, Speed Business Meetings with colleagues from other bilateral chambers, visits to the production plants of our member companies, as well as traditional annual events like the Vasilopita Cutting event, Summer Cocktail Party and Humanitarian Christmas Dinner. This year’s central event will certainly be the celebration of the 20th anniversary of the work of the Association, which we believe will present the Greek economy’s business, size and diversity in Serbia in an appropriate way.

The Hellenic Business Association of Serbia was founded on pillars of friendship and the shared interests of Greek businesspeople in the country, who decided over the course of 2003 to construct a platform for connecting, supporting and promoting Greek investments in the country

AnniversaryYear

The Hellenic Business Association of Serbia – a private, non-governmental, non-profit association of the Greek business community in Serbia – will be celebrating the first 20 years of operations in December of this year. HBA Serbia’s member companies represent Greek economic interests and are present in almost all sectors of business

Since its establishment back in December 2003, the Hellenic Business Association of Serbia, HBA, has remained committed to its basic goals, which include representing the interests of the Greek business community in Serbia, strengthening and promoting

economic ties between Greece and Serbia, and promoting business connections between member companies and other stakeholders in Serbian entrepreneurship.

HBA member companies represent Greek economic interests in the broadest possible sense and are present in almost

all sectors of business – the hotel and construction industries, the cement and sugar industries, the petroleum trade sector, the production of construction materials and aluminium profiles, food and beverage retail, the banking and service sectors etc.

The Hellenic Business Association (HBA)

STRENGTHENING BUSINESS TIES AND SOCIAL LINKS BETWEEN GREEK BUSINESSPEOPLE IN SERBIA

The HBA organises various events in Serbia with the aim of connecting members of the Greek business community in the country. The HBA’s central event is the

Vasilopita Cutting ceremony, which traditionally marks the start of a successful business year in the Greek business world. Other traditional HBA events include the Christmas dinner, at which the Association organises a humanitarian lottery, with the money collected donated to one of the

humanitarian organisations in Serbia. Another regular annual event that has been organised for the past seven years is the Greek Weekend, a three-day excursion for members of the Greek community and their families to get acquainted and establish cooperation. Moreover, members have

an opportunity to meet with representatives of the HBA Board of Directors in an informal atmosphere every first Sunday of each month, thus strengthening social and business ties within the community. Apart from this, the HBA also organises an annual summer gathering for members, as well as a special event for representatives of leading Greek companies at the Greek ambassadorial residence, organised in cooperation with the Greek ambassador.

EDUCATING MEMBERS, FORGING CONNECTIONS AND IMPROVING COOPERATION

The HBA cooperates with similar bilateral associations and chambers of commerce through the organising of joint events, with the aim of promoting networking between

Greek companies and local and international companies. Good examples of this cooperation are Speed Business Meetings, International Networking Cocktail Parties and International Coffee Breaks held within the scope of the Kopaonik Business Forum. The Association also regularly organises seminars and workshops for middle and top management aimed at educating members. These sector-specific events have the goal of educating and exchanging business information regarding current topics related to the legal, accounting, IT, HR, marketing and other sectors. The HBA also supports initiatives that contribute to interconnecting Greek companies in the region. A member of the Union of Greek Business Associations in Southeast Europe, HBA Serbia recently signed a Memorandum of Cooperation with

Hellenic Business Associations in Albania and North Macedonia, under the auspices of the Open Balkan initiative.

SUPPORTING EDUCATION AND CULTURAL EXCHANGES

The HBA promotes the CSR aspect of Greek companies’ operations, cultural and historical ties between Serbia and Greece, as well as the Greek language and culture. Testifying to this aspect of its work is the fact that the HBA participated in the organisation of the “Greek Weekend” event in Belgrade during the period from 2016 to 2019, which had the goal of promoting Greek culture, music, cuisine and tourist offers, as well as improving the already traditionally good relations between Serbia and Greece. Demonstrating that the support of HBA member companies to ed-

ucation in Serbia can be more than tangible came in 2013, when these companies carried out construction works and donated essential equipment for the work of the multimedia lecture hall of the Department of Neohellenic Studies at the University of Belgrade Faculty of Philology. For five consecutive years, the HBA organised a three-month student work placement internship under the name “Greek initiative to work experience”, in cooperation with the University of Belgrade and under the patronage of the Embassy of Greece in Belgrade, with the aim of promoting member companies and the professional development of students, furthering their connection with the labour market and networking within the Greek business community in Serbia. In cooperation with the Hellenic Foundation for Culture and under the patronage of the

Serbian Orthodox Church, the HBA awards scholarships for Greek language studies to students of the University of Belgrade Faculty of Orthodox Theology with the aim of strengthening cultural and spiritual ties between Greece and Serbia.

PRESENTING THE COMMON STANCES OF GREEK BUSINESS LEADERS TO THE AUTHORITIES AND INSTITUTIONS

The HBA has had opportunities to meet with numerous representatives of the Greek government and institutions during their official visits to Belgrade, with these meetings enabling the presenting of Serbia’s economic environment and the current business activities of Greek companies operating in the country. Over previous years, with the support of the Greek Embassy in Belgrade, the HBA has met

The Hellenic Business Association of Serbia organises numerous activities aimed at strengthening economic and social ties between Greece businesspeople in Serbia and their networking with other stakeholders in the Serbian economy

with Greek Prime Minister Kyriakos Mitsotakis, former Prime Minister Alexis Tsipras, Foreign Minister Nikolaos Dendias, former President of Greece Prokopis Pavlopoulos and many others. The HBA also cooperates actively with Serbian ministries and institutions, via the implementation of initiatives linked to improving the business environment, but also through the organisation of joint events.