Nordic Business Alliance & Western Balkans 2018 by CorD Magazine

Nordic Business Alliance & Western Balkans 2018 Marko Čadež, Chairman of the Board of Directors of the Western Balkan Six Chamber Investment Forum (WB6 CIF) and President of the Chamber of Commerce & Industry of Serbia ● Safet Gërxhaliu, Secretary General of the Western Balkan Six Chamber Investment Forum ● H.E. Anders Christian Hougård, Ambassador of Denmark to Serbia ● H.E. Pertti Juhani Ikonen, Ambassador of Finland to Serbia ● H.E. Arne Sannes Bjørnstad, Ambassador of Norway to Serbia ● H.E. Jan Lundin, Ambassador of Sweden to Serbia ● Andreja Pavlović, Executive Director of the Nordic Business Alliance ● Anne Marie Brady, MD Scandinavian Design Group (SDG) ● Nataša Krejić, Partner lawyer, Sajic Law Office ● Vera Popović, Commercial Sector Director, Elixir Food d.o.o. (Ltd.) ● Zdravko Dragaš, B.Sc. engineer, Executive Director of CEMA d.o.o. (Ltd.) ● Vladimir Ilić, General Manager, Tigar A.D.

Two-Way Road

CONTENT

LESSON TO BE LEARNED: COMPETITORS AND TEAMMATES

WE HAVE ENTERED A MORE INTENSE PHASE OF ECONOMIC RELATIONS

COMMENT

H.E. JAN LUNDIN, AMBASSADOR OF SWEDEN TO SERBIA

WESTERN BALKAN SIX CHAMBER INVESTMENT FORUM BUSINESSPEOPLE WILL UNIFY THE REGION

MARKO ČADEŽ , CHAIRMAN OF THE BOARD OF DIRECTORS OF THE WESTERN BALKAN SIX CHAMBER INVESTMENT FORUM (WB6 CIF) AND PRESIDENT OF THE CHAMBER OF COMMERCE & INDUSTRY OF SERBIA

DO JUST AS THE NORDICS DO

H.E. PERTTI JUHANI IKONEN, AMBASSADOR OF FINLAND TO SERBIA

FROZEN HEALTH FROM SERBIA

VERA POPOVIĆ, COMMERCIAL SECTOR DIRECTOR, ELIXIR FOOD D.O.O. (LTD.)

SAFET GËRXHALIU, SECRETARY GENERAL OF THE WESTERN BALKAN SIX CHAMBER INVESTMENT FORUM

TIME TO TAKE RESPONSIBILITY

ANNE MARIE BRADY, MD SCANDINAVIAN DESIGN GROUP (SDG)

FROM IDEAS TO THE ROOF

FROM BOOTS TO FASHIONABLE OPANAK SHOES

VLADIMIR ILIĆ, GENERAL MANAGER, TIGAR A.D.

CORPORATE

ZDRAVKO DRAGAŠ, B.SC. ENGINEER, EXECUTIVE DIRECTOR OF CEMA D.O.O. (LTD.)

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H.E. ANDERS CHRISTIAN HOUGÅRD, AMBASSADOR OF DENMARK TO SERBIA

WHY THE NORDIC MODEL IS STILL BETTER THAN MOST?

MPC PROPERTIES INVESTS 45 MILLION EURO IN NEW BUSINESS PROPERTY

FURTHER ATTENTION MUST BE GIVEN TO INFORMATION SECURITY

GOAL WORTH FIGHTING FOR

THE NORDIC PUZZLE

CONSTRUCTIVE SUPPORT & SOLUTIONS

RETROSPECTIVE 2014/2018

H.E. ARNE SANNES BJØRNSTAD, AMBASSADOR OF NORWAY TO SERBIA

WORLD’S HAPPIEST PEOPLE

EMBRACING GLOBALISATION & SHARING RISKS

NORDIC CHALLENGES

THE NORDIC MODEL IS AN INSPIRATION FOR ALL OUR ACTIVITIES

ANDREJA PAVLOVIĆ, EXECUTIVE DIRECTOR OF THE NORDIC BUSINESS ALLIANCE

KNOWHOW & SPEED AS PRIORITIES

BUSINESS PARTNER

NATAŠA KREJIĆ, PARTNER LAWYER, SAJIĆ LAW OFFICE, BANJA LUKA

EDITOR Ana Novčić a.novcic@aim.rs a.novcic@cordmagazine.com DESIGNER Jasmina Laković j.lakovic@aim.rs

PROJECT MANAGERS Biljana Dević b.devic@aim.rs Nataša Trifunović n.trifunovic@aim.rs Vesna Vukajlović v.vukajlovic@aim.rs

PHOTOS Zoran Petrović

OFFICE MANAGER Svetlana Petrović s.petrovic@aim.rs

COPY EDITOR Mark Pullen mrpeditorial@mail.com

EDITORIAL MANAGER Neda Lukić n.lukic@aim.rs

FINANCE: Ajilon Solutions m.damjanovic@aim.rs EXECUTIVE DIRECTOR Maja Vidaković m.vidakovic@aim.rs GENERAL MANAGER Ivan Novčić i.novcic@aim.rs PRINTING Rotografika d.o.o. Segedinski put 72, Subotica, Serbia

THE NORDIC MODEL

BUSINESS PARTNER NORDIC BUSINESS ALLIANCE & WESTERN BALKANS 2108

TWO-WAY ROAD Published by: alliance international media Makenzijeva 67, 11111 Belgrade 17, PAK 126909, Serbia Phone: +(381 11) 2450 508 Fascimile: +(381 11) 2450 122 E-mail: office@aim.rs; office@cordmagazine.com

www.aim.rs; www.cordmagazine.com No 11 ISSN: 2560-4465 All rights reserved alliance international media 2018 THIS PUBLICATION IS FREE OF CHARGE 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

COMMENT

Lesson To Be Learned: Competitors And Teammates terms of transportation, digitalisation or customs tariffs, and are a long way from institutionalising their cooperation through the establishment of a body similar to the Nordic Council of Ministers. While the Nordics share a single labour market, our region’s workforce moves based on quotas in the case that there is a shortage of some skills, like in tourism. Nordic countries may play for the same team and be fierce competitors, as they have very similar business models and sectors in focus, while their Western Balkan counterparts often clash over agricultural products and close their borders to one another.

The investment forum that brings together Nordic and Western Balkan companies will be an inspiring event and an opportunity for Serbian companies and decision makers, as well as for their regional counterparts, to use the occasion to learn how to become leaders, and how to play for the same team

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ery few countries in the world, including those in the European Union, could aspire to compare themselves to the Nordic states. Indeed, their citizens are among the happiest in the world and they enjoy the highest social standards, while their companies are among the most innovative and least corrupt. However, it would not be unthinkable to compare the Western Balkans and the Nordic countries or, to be more precise, to look for reputable examples of regional cooperation and mutual support. One good example is certainly interconnectivity. The Western Balkan countries are still in the initial phase of connecting with each other in

The Nordic Business Forum, which will bring together for the first time the largest Nordic trade and commerce delegation in Belgrade and their counterparts from the Western Balkans, will be an excellent opportunity to identify potential for mutual cooperation, but also an invaluable chance for companies from the region to get better acquainted and to deepen their cooperation. It would be fair to say that Serbia was the first Western Balkan country to take some bold steps

towards trying to invigorate cooperation with the Nordic countries. Although the level of investments and mutual trade is quite low, it seems that today Nordic companies are more likely to think about investment opportunities in this part of the world. The numbers speak for themselves. While still modest, trade relations between Danish and Serbian companies are growing at doubledigit rates, mainly due to Danish export-orientated investments. And as a specific result of these investments more than 2,000 jobs have been created in Serbia. Furthermore, there is growing interest in the country among Danish companies, primarily owing to Serbia’s favourable geographic location and educated workforce. Finland’s cooperation is even more modest, with only 11 registered Finnish companies in Serbia, albeit with positive experiences of doing business. The establishment of IKEA in Serbia was obviously one of those important signals that things are advancing. Sweden’s annual export to Serbia is growing steadily at present, and several Swedish companies are considering entering the market in the mining industry, and energy, healthcare and agriculture sectors. It would be good if more Nordic companies brought their knowhow and values to Serbia.

It would not be unthinkable to compare the Western Balkans and the Nordic countries or, to be more precise, to look for reputable examples of regional cooperation and mutual support

MARKO ČADEŽ CHAIRMAN OF THE BOARD OF DIRECTORS OF THE WESTERN BALKAN SIX CHAMBER INVESTMENT FORUM (WB6 CIF) AND PRESIDENT OF THE CHAMBER OF COMMERCE & INDUSTRY OF SERBIA

PHOTO PKS

SAFET GËRXHALIU SECRETARY GENERAL OF THE WESTERN BALKAN SIX CHAMBER INVESTMENT FORUM

Western Balkan

SIX CHAMBER INVESTMENT FORUM Businesspeople Will Unify the Region Although the establishment of the Chamber Investment Forum has shown itself to be a great move that's yielding tangible results in terms of increases level of trade and business cooperation, support from the governments of the region remains insufficient. We see one possible solution to this in the establishment of ministries for regional cooperation within each government, just as Nordic countries have regional cooperation ministers

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INTERVIEW

he chambers of the region initially established dialogue on mutual cooperation. The Chamber Investment Forum (CIF) was actually created on the initiative of the chambers of commerce of Kosovo and Serbia. Thus it should come as no surprise that we selected for this parallel interview Marko Čadež, Chairman of the Board of Directors of the Western Balkan Six Chamber Investment Forum and President of the Chamber of Commerce & Industry of Serbia, and Safet Gërxhaliu, Secretary General of the WB6 CIF and until recently president of the Chamber of Commerce of Kosovo.

Are you satisfied with what has been achieved to date and how much has the Chamber Investment Forum (CIF) proven itself to be a good mechanism for cooperation? - Marko Čadež: Since its founding, and subsequently through its activities, the Chamber Investment Forum has played a huge role, primarily in raising awareness of the need, importance and benefits of regional cooperation, and in contributing to regional integration becoming part of the economic and political agendas of the Western Balkans. It has gradually grown into an efficient chamber platform for dialogue between the private and public sectors aimed at eliminating obstacles to operating

successfully and increasing the attractiveness of this region for both domestic companies and foreign investors; as a platform that contributes to building a common market, strengthening the capacities and competitiveness of our economy and networking our businesspeople for operations in the region and around the world. Europe has recognised and acknowledged that we have become the strongest factor of cohesion in the region, while political leaders respect us – wherever we are in Brussels or the region, doors are open for us to meet with the highest officials. And, most importantly, that is appreciated by our businesspeople, who are increasingly able to feel the benefits of chamber cooperation and initiatives. - Safet Gërxhaliu: Even the longest journey requires the taking of the first step, which we took as chambers. Both in relations between Belgrade and Pristina, Serbia and Kosovo, and in regional relations. I think that was the right decision at the right time, because it is only through dialogue

and cooperation that problems can be solved and prospects opened for this region. We didn’t dealt in politics, we’re not trying to solve issues that we can’t solve, we haven’t returned to the past and lost time beautifying it, rather we’ve sought a route and resources to build the future together. And there is no dilemma that the future of this region is in the economic cooperation that will contribute to the growth and development of our economies. After many years, we have created the first joint institution in this region - a joint regional chamber, which represents the voice of almost half a million companies from this region. To what extent do political processes (opportunities) in the region maintain the goals you’ve set for yourselves? - Marko Čadež: If we were to observe just growth in trade alone, we could conclude that the inherited unresolved issues and political turbulence in the region have no major negative impact on economic relations. It is true that our businesspeople – driven by their natural interest to cooperate – traded with each other even when the circumstances were tougher. However, for everything beyond regular trade - for the formation of joint companies, consortiums, joint

down or halt entirely. Let’s say that we start harmonising regulations and procedures, removing obstacles to doing business, and then political sparks fly and these processes are moved to the back-burner. This is not good for either domestic companies or the image of the region in the international business community. That’s why the region’s chambers of commerce constantly send politicians a common message regarding the importance of preserving political stability: that every time they sharpen rhetoric, they must be aware that they’ve harmed our economies. - Safet Gërxhaliu: It’s always easier for businesspeople to find a common language than it is for politicians.

MARKO ČADEŽ

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Our common language is economic cooperation. Although progress has been made in the last few years, via the Berlin Process, and although the economy and tangible projects have finally become topics of talks, in truth – both in the regional context and in relations between Serbia and Kosovo – economic cooperation is a

In your opinion, has the region matured in its attitude towards removing economic barriers? - Marko Čadež: Since the last year’s Summit on the Western Balkans, held in Trieste, at which the Multi-annual Action Plan on Regional Economic Area in the Western Balkans Six (MAP REA) was adopted, progress has been achieved. The political will exists, governments have done a lot, and the coordinators in the cabinets of the prime ministers have dedicated themselves to the implementation of harmonised measures. However, from the perspective of businesspeople, the results could be even better and systemic solutions should addition-

INTERVIEW

The region's chambers of commerce constantly send politicians a common message regarding the importance of preserving political stability: that every time they sharpen rhetoric, they must be aware that they've harmed our economies participation on world markets – we need a higher degree of political stability, without needing to mention how important that is to foreign investors. Worsening relations at the political level cause some processes that depend on governments and state institutions, and that are important to businesspeople, to slow

hundred steps ahead of the political side. It is true that in the Balkans we cannot yet speak of economic cooperation beyond political connotations, but we, as Chambers, have done everything to eliminate possible political meddling. Furthermore, our cooperation simultaneously serves the function of improved political relations, because it is only through economic development that we can achieve political stability, social peace, accelerated integration processes and improvements in the poor perception of the region. That is an extra reason for politics to be with us, for us to share a common goal, for us to apply our model of cooperation in our communications and relations with politicians.

is being dealt with by fewer than 20 people in all the governments of the Western Balkan Six. MAP REA coordinators in prime ministers’ cabinets are not a sufficient mechanism to accelerate regional economic integration. We see one solution in the establishment of ministries for regional cooperation within each government, just as the Nordic countries have regional cooperation ministries. - Safet Gërxhaliu:The need for capacity building and support mechanisms for the implementation of more than a hundred measures, which all the governments of the region are obliged to implement, is further reflected in the list of business community recommendations that we submitted in our Declaration. It’s a huge job. Starting from the removal of all non-tariff barriers within the region, the mutual recognition of certificates, alongside faster introduction of European standards and electronic SAFET GËRXHALIU documents, which

BUSINESS PARTNER

INTERVIEW

ally improve conditions for doing business in the region. Accordingly, the chambers of commerce of the Western Balkans Six, gathered in the Chamber Investment Forum, called on all governments of the region, the European Commission and the EU member states involved in the Berlin Process, to further devote themselves and to work together on speedng up the implementation of the Action Plan, in order for companies in the Western Balkans to begin enjoying visible benefits of regional integration as soon as possible.

The Board of Directors of the Chamber Investment Forum adopted a declaration with recommendations that the economies of all participants join in the implementation of the regional cooperation agenda. In order to ensure better coordination within the region, eliminate barriers, and ensure the faster implementation of agreed policies that will enable the creation of a single economic space, governments need to allocate more resources – both in terms of people and money – for implementation of the envisaged measures. To the best of our knowledge, the establishing of better economic cooperation

What is in the focus of the Chamber Investment Forum’s activities today? - Marko Čadež: The internationalisation of operations through increasing mutual exchanges and exchanges between our economies and the world, creating the conditions to attract more investments to the region, introducing dual education and digitising business... This is the essence of the projects we’ve launched and which we create, and for which we receive international support. The European Commission recently supported a project to improve the competitiveness of the Western Balkan economy. We will launch implementation as early as the beginning of next year. The first group of activities awaiting us is to strengthen dialogue with the business community regarding implementation of the Multi-annual Action Plan, but also dialogue between the regional business community and EU institutions on implementation of so-called ‘more inclusive expansion’. This project will provide chambers with new instruments for improving support to business for operations in the region and in Europe, such as databases of regulatory and market conditions for the marketing of certain products or info days and training courses for small enterprises on the opportunities and benefits brought to them by the regional economic

The meetings with Nordic businesspeople represents another opportunity to present ourselves to the international business community as a region as a whole, and not as small national markets and individual players will enable businesspeople to trade goods in the region cheaper and faster, via better and easier access to capital, carrying out the digital transformation of our economies and companies, to the creation of education systems that meet the needs of the economy, the mutual recognition of qualifications and enabling the greater mobility of workers...

space. Through the second component of the project, we will work on increasing the international competitiveness of SMEs: by organising joint appearances at foreign fairs, providing technical assistance to companies applying for funds from EU projects and promoting the inclusion of our companies in the supply chains of large companies. Three major invest-

out the entire region the excellent experience of the Serbian Chamber of Commerce, which – with the assistance of the Chamber of Commerce of Austria (WKO) and with the financial support of the Austrian Development Agency (ADA) and Germany’s GIZ – has become an example of good practise in the introduction of dual education and in the digital transformation of the economy. Discussions are underway with Austrian and German partners. Belgrade will this week be marked by joint and individual forums and bilateral talks between companies from the Nordic region and the Western Balkans. Why is that important for companies from this region and

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what can the Western Balkan economy offer Nordic investors? - Marko Čadež: I previously noted that there are at least three major economic reasons that make it important for Serbia, and for companies from the whole of the Western Balkans, to strengthen economic cooperation with the Nordic region. The first is

the region as a whole and connecting our companies to participate jointly on third markets, efforts to create regional value chains and consolidate and unify our offer to make it more competitive, to present ourselves as one region and one economy. That’s why we established the joint regional chamber, and that’s why we advocate that we appear before buyers and investors as a unique investment destination and a unique market of 18 million consumers. We are aware that the international business community also sees us in that way: that they see us as a region as a whole, and not as small national markets and individual players.

INTERVIEW

Europe has recognised and acknowledged that we have become the strongest factor of cohesion in the region, while political leaders respect us. And, most importantly, that is appreciated by our businesspeople, who increasingly feel the benefits of chamber cooperation and initiatives Furthermore, with the help of the EBRD, we have established and are developing and planning to upgrade the first online investment platform with all the necessary information that will ease the process of investing in the Western Balkans for potential investors. Our desire is to apply through-

that it has a market that’s bigger than our entire region. The second reason are the investments of serious companies like the Nordic ones that already operate in Serbia and other Western Balkan economies. The third reason is the transfer of modern technologies, business models, standards and the knowledge and experience of Nordic countries that are invaluable to us. Interest in improving our cooperation is mutual. Testifying to this is the more than 160 companies, both ours and Nordic ones, that have already registered. - Safet Gërxhaliu: Participation in this week’s meetings with Nordic businesspeople is part of the activities of the Chamber Investment Forum on promoting the potential of

PHOTO TANJUG

ment conferences are also planned in order to promote the region and successful business stories among foreign investors. Alongside direct support to the economy, the project also envisages improvements to the capacities of chambers of commerce and support for strengthening their cooperation through the Chamber Investment Forum. - Safet Gërxhaliu: Alongside this new major project that will be funded by the European Commission, we are already working – with the support of the German Organisation for International Cooperation (GIZ) – to improve the export potential of the SME sector. The aim of the project is to improve the services of the chambers of commerce of the Western Balkans for the support of SMEs exporting more through their inclusion in regional value chains. A special focus is on companies in the field of fruit and vegetable processing. Within the scope of this project we will develop an internal platform for the exchange of information and good practises between the chambers of the region, but will also improve chamber services for assisting SMEs in interconnecting and mutually associating, as well as educating them as well as possible for work with leading companies in the region.

H.E. ANDERS CHRISTIAN HOUGÅRD AMBASSADOR OF DENMARK TO SERBIA

It is our hope that the success stories of Danish companies operating in Serbia will persuade more of their counterparts to invest in the country. However, this is a two-way street. We would still expect Serbian central and local governments to maintain their efforts to improve the business environment, digitise services and enforce the rule of law. The list of tasks might seem long, but the end-result is worth fighting for

Goal Worth Fighting For

conomic cooperation between Denmark and Serbia is growing year on year. “We see steady growth in bilateral trade and investments. Our relationship is becoming more commercial, which is an encouraging sign and an indicator of positive economic development,” says Danish Ambassador to Serbia H.E. Anders Christian Hougård. Trade relations between the two countries are growing at doubledigit rates, though some of this

How familiar is the Western Balkan region to Danish businesspeople and, in this regard, what do you expect from the investment forum? - Compared with other Nordic countries, Danish companies aren’t as numerous, but they are very versatile and spread all over the region, as is the case in Denmark itself. As I said, we see growing interest from Danish companies, primarily due to the favourable geographic location and educated workforce. I believe this trend will continue as the economies

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INTERVIEW

The Nordic Investment Forum is an excellent opportunity to meet and establish contact. I hope this opportunity will be seized upon by both Danish and regional companies and chambers of commerce growth can be attributed to Danish investments in Serbia. Almost every major Danish investment in Serbia is export-orientated. “Our exporters, such as Grundfos, regularly appear among top exporters from Serbia,” says the ambassador. Danish companies have directly created more than 2,000 jobs in Serbia, many of them in SMEs like Ergomade in Niš or HealthCare Europe in Ruma. They additionally strive to have a positive impact on the environment in which they operate, so they are renowned for their high-impact CSR efforts.

recover and the countries conduct necessary reforms. The Nordic Investment Forum is an excellent opportunity to meet and establish contact. I hope this opportunity will be seized upon by both Danish and regional companies and chambers of commerce. Where do you see room for the involvement of Denmark – in a political and economic sense – in the process of improving interconnectivity within the Western Balkans? - I believe that the Nordic coun-

tries, Denmark included, can be a good example of interconnectivity for the Western Balkan countries. Nordic cooperation has been institutionalised through the establishment of the Nordic Council of Ministers. Take the environment as an example: it knows no borders, with the levels of pollution in one country impacting all others. This is why we share the same goals when it comes to sustainable development and environmental protection. The labour market is another example. The Nordics share a single labour market, which means it is very easy to move from one country to another for work. There are, of course, differences in salaries or other conditions, but our citizens are encouraged to be mobile and to gain experience beyond national borders. This fosters understanding and closer ties. Finally, I would like to mention energy as an excellent example of Nordic interconnectivity. Our grids are connected for mutual support, and we all aim for a greater share of renewables in our energy production. Denmark is a forerunner in all these fields and we would be happy to share our experiences as an individual country, but also as a member of the Nordic club.

H.E. PERTTI JUHANI IKONEN AMBASSADOR OF FINLAND TO SERBIA

Finnish companies have positive experiences of doing business in Serbia. However, Serbia should exert additional efforts to make the business environment more competitive, transparent and predictable

Do Just As The Nordics Do

ccording to data available to the Embassy of Finland, there are 11 Finnish companies registered in Serbia and around 50 distributors of various Finnish equipment and solutions representing different sectors. “Generally, Finnish companies have positive experiences of doing business in Serbia,” says Finnish Ambassador to Serbia H.E. Pertti Ikonen. However, he says, the business environment could be improved.

potential in Serbia’s EU integration process, as it is so comprehensive. The reason Nordic regional cooperation is the deepest in Europe is that we share the same values and rules. EU integration is really about that - aligning our values and rules, and creating common interests. As regards the strengthening of economic ties, I believe the best way is through business promotion and the continuous exploration of market opportunities. That is where the Embassy of Finland has been

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INTERVIEW

Nordic countries are a great example of how to play for the same team... I believe that companies from the Western Balkans should do just like the Nordics do and use every opportunity to explore how to improve and deepen their mutual cooperation “Finnish companies are good examples of sustainable, innovative and environmentally-friendly businesses generating the highest quality products, and they expect the same from their partners abroad, including those in Serbia,” says Ambassador Ikonen. Where do you see the potential to improve political and economic links between our two regions? - There is potential for cooperation everywhere! Increased trade will inevitably lead to closer political ties as well. However, I see the greatest

particularly active, including in the exchange of knowhow between our two regions. Moreover, the Nordic embassies in Belgrade and the Nordic Business Alliance in Serbia have joined forces to share Nordic expertise in fields that are vital to a healthy business environment, such as public procurement, digitalisation and innovations, as well as efficient and transparent administration. One of the key elements of the Nordic business environment is the fact that these countries are the world’s least corrupt, which also reflects on business practises.

What would you consider the greatest success of this year’s investment forum? - I am glad that the Nordic countries are partners of the Chamber Investment Forum. For the first time, we will bring together representatives of the chambers of commerce of Western Balkan countries, accompanied by companies from the region, as well as Nordic companies and institutions. Nordic countries are a great example of regional cooperation and, as we say, we all play for the same team. Companies from the Nordic region have very similar business models, sectors in focus, corporate values etc. As a consequence of this they are actually direct competitors in many areas. However, we believe that healthy and fair competition can only bring good, both for the companies and for the market in which they are competing. The investment forum will provide company representatives from the Western Balkans with an excellent opportunity to meet Nordic companies and identify the potential for cooperation. On the other hand, I believe that companies from the Western Balkans should do just like the Nordics do and use every opportunity to explore how to improve and deepen their mutual cooperation.

CORPORATE

Time To Take Responsibility The road to a more sustainable everyday life is long and demanding. In Norway, we often talk about regulating material selection so that products are less harmful to the planet

to increase the competitiveness of the brand and create profit in both the short and long term. This is our responsibility. There is also a clear purpose. Designers control the experience of using different products and services. Designers can turn business plans into products for consumers, through the development of new concepts and by designing deep brand experiences. Design adds value to products and is a key differentiator for consumers. We have a real impact on Norwegian consumers and businesses. With that influence comes responsibility.

solutions can replace physical ones. We designers work on the side of the public and represent the voice of consumers. Just as design is more than shape and colour, sustainability has expanded to deal with more than just environmental protection. The UN’s Sustainable Development Goals include poverty, gender equality, energy, peace work, environmental work, innovation and education. Within all these areas, we need attractive, differentiated and well-functioning brands. In order to do that, we obviously need to work on innovation, but

ANNE MARIE BRADY MD SCANDINAVIAN DESIGN GROUP (SDG)

Scandinavian Design Group (SDG) is located in Oslo, Copenhagen and Stockholm. SDG works with corporate identity, digital and innovation services, branded environments and consumer packaging. With 30 years of experience, SDG has created and evolved some of the bestknown brands in the Nordic region. From 2016. SDG has been part of I&F McCANN Grupa (based in Belgrade) which operates in 12 countries of Southeast Europe and the Nordic region perhaps - most importantly – we need to improve the products and services that are already on the market. At Scandinavian Design Group we have embraced Goal No. 17, “Collaboration to Achieve the Goals”, and seek to develop good partnerships across national borders, the public and private divide, and organisational life. It’s time to do something – not just to accept the consequences of what others do.

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We must use that responsibility for something that’s more important than ourselves. The design profession has to work with a multifaceted business sector, so there are many solutions for sustainability. However, it’s too lazy to transfer the responsibility to consumers when it comes to keeping up to date with the benefits of unified value chains, biodegradable and recycled materials, or how digital

e limit the use of harmful materials, recycle what can be recycled, use air blocks to limit city traffic, and subsidise zero-emission cars. In this way, the government, businesses and regular people do their best to achieve the UN’s climate goals together. But if we remove the “sustainability element”, the truth is that none of these measures, nor their results, are very attractive in the eyes of the consumer. Often, “sustainability” is the only thing that differentiates a brand. Is that good enough? Shouldn’t sustainable products and services be at least as good as those that are less sustainable? The opportunity to contribute to sustainability has increased. We participate in workshops on circular business models, run innovation processes, and talk about the UN’s sustainability goals. All of this helps raise awareness and increase our knowledge of sustainability. But there is still a distance between words, actions and impact. Workshops with Post-Its, knowledge maps and positioning exercises are good tools, but these good ideas are often far from our day-to-day businesses. Our aim is to go from thought to action; from design thinking to design doing. We strive for a stronger focus on what we can accomplish today. We take steps

H.E. ARNE SANNES BJØRNSTAD AMBASSADOR OF NORWAY TO SERBIA

We work with the Serbian Government to prepare legislation on information security in line with EU standards. This is probably our most important contribution. We want to be a partner in E-governance

Further Attention Must Be Given To Information Security

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INTERVIEW

orway has made significant advances in terms of digitalisation in E-governance and Ecommerce. Almost every sector and sub-sector of the Norwegian economy is digitalised, although to differing degrees. Norway is currently supporting Serbia in preparing important steps in the digital transformation process, in line with EU standards. We spoke with H.E. Arne Sannes Bjørnstad, Ambassador of Norway

will connect us. While being impressed by the strong political will to digitalise Serbia, it does however worry me that not enough attention seems to be paid to information security. Digitisation brings vulnerabilities as well as opportunities. What knowhow and experience can Norway share with Serbia when it comes to improving public and commercial E-services? - We work with the Serbian gov-

While being impressed by the strong political will to digitalise Serbia, it does however worry me that not enough attention seems to be paid to information security. Digitisation brings vulnerabilities as well as opportunities to Serbia, about these and other related topics, including the potential for our two countries to cooperate in the ICT sector. Do you expect the digital transformation process to connect us or deepen the gap between the economies of the Nordic countries and the Western Balkans? - Serbia is closing the gap and

ernment to prepare legislation on information security in line with EU standards. This is probably our most important contribution. We want to be a partner in E-governance. On E-commerce, the market will decide. To what extent is today’s share of the knowledge economy a driver of the Norwegian economy? Do

you see the potential for cooperation between our IT sectors? - Practically every sector and subsector of the Norwegian economy is digitalised, although to what extent differs. There is great potential for trade and cooperation. Serbia has many very good engineers and ICT companies. Security issues linked to cyber security and restrictions on the use of certain technologies outside NATO countries and close security partners do, however, represent an obstacle, but there is still great potential for cooperation that is yet to be exploited. Investments in Serbia also depend on the investment climate. It has improved, but there are still issues that should be addressed, like the rule of law and predictability, public procurement and subsidies that distort competition, as well hidden taxes, like the expensive and mandatory membership in the Chamber of Commerce & Industry of Serbia, which turn investments away.

CORPORATE

Knowhow & Speed As Priorities We place great importance on trust and the good relationships that we’ve built between ourselves and in relations with our clients, which enables us to continually advance our professional development.

“L

aw office “Sajić” has had its own place in ‘Chambers and Partners’ for years, while for the last several years ‘Legal 500’ has ranked us as the best law office in Republika Srpska and one in three best in Bosnia-Herzegovina,” says Natasa Krejić, partner lawyer at the SAJIĆ Law Office

Which areas of business do your clients mostly come from? Our clients are fairly diverse and some of them are very specific due to the type of work they do, so we represent both foreign and domestic companies from different sectors, banks, insurance companies and various associations, but also entrepreneurs and citizens in need of legal assistance. What distinguishes your law firm from the competition? Our advantage lies precisely in the forming of specialised teams that provide appropriate services to the client in a reliable, efficient and highquality manner. We are one of the largest law offices in Bosnia-Herzegovina and have a tradition of providing legal

we achieve is not something that will lull us to sleep. Law office Sajić has had its own place in ‘Chambers and Partners’ for years, while for the last several years ‘Legal 500’ has ranked us as the best best law office in Republika Srpska and one in three best in BosniaHerzegovina. We have established a system of management quality and the management of organisation in accordance with ISO 9001:2015 standards in the field of providing legal services, as the only company to do so in Bosnia-Herzegovina, while our law firm also has professional liability insurance amounting to 2,250,000.00 KM. Moreover, we are also members of the Adriatic Legal Network – a network of prestigious law firms established with the aim of providing legal services to clients in the region and beyond. Furthermore, all of our employees

NATAŠA KREJIĆ PARTNER LAWYER, SAJIĆ LAW OFFICE, BANJA LUKA

We are one of the largest law offices in Bosnia-Herzegovina and have a tradition of providing legal services since 1989, so we are able to respond to clients' requests almost immediately participate in many seminars, congresses and conferences, both in the country and abroad, which ensures that our knowledge base expands continuously. We also place great importance on trust and the good relationships that we’ve built between ourselves and in relations with our clients, which enables us to continually advance our professional development.

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services since 1989, so we are able to respond to clients’ requests almost immediately. We are aware that modern market flows require adaptation and an innovative approach to specific issues or problems, which is why we constantly set the bar higher for ourselves in terms of achieving professional quality, but we also strive to never lose sight of that which is essential, ensures that the success

In which areas of law does the Sajić Law Office specialise? Law firm SAJIĆ deals with all areas of law, with the exception of criminal law, within the scope of specialised teams. In general, we are a company that strives to be able, at any given moment, to meet the needs for any legal service of any of our clients, which are primarily companies but also include private individuals. We’ve set ourselves the task of being able to provide services to our clients at all times and in the best possible way. We provide services in the areas of company, tax and labour law, insurance, bankruptcy and liquidation law, family law, intellectual property rights and other areas that are in principle also the most common in practise, however there are also competition law, media law, sports law and new legal branches. In this way we avoid being linked only to certain areas of law, while we also provide services in some specific legal areas that are only just developing in the modern market, which is precisely why it is necessary to provide adequate legal support. We also help clients in the

fields of GDPR and data protection.

H.E. JAN LUNDIN AMBASSADOR OF SWEDEN TO SERBIA

Apart from IKEA, which is interested in expanding its cooperation with the Serbian furniture industry, there are other Swedish companies, such as those from the mining sector, manufacturing and engineering, that are seeking business opportunities in Serbia

We Have Entered a More Intense Phase of Economic Relations

weden’s annual exports to Serbia, although still small, are growing steadily, while Serbia’s economic growth, especially in the mining sector and construction, is attracting the interest of Swedish companies. Among the most promising business sectors for boosting Swedish exposure to Serbia are equipment

Serbia indeed signifies a new, more intense phase of economic relations between our two countries. Even more, however, it symbolises Serbia’s integration into global trade flows, as IKEA is today a global company, albeit one with a strong Swedish identity. I believe that during the next few years smaller Swedish compa-

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INTERVIEW

We see considerable interest in investing in manufacturing, where Serbia is quite competitive for greenfield investments today, in terms of production costs for the mining industry, the energy sector and solutions that can facilitate cost efficiency and increase quality in the healthcare sector. We spoke with H.E. Jan Lundin, Ambassador of Sweden to Serbia, about further prospects for mutual cooperation.

nies that are complementary to IKEA might choose to establish themselves in the vicinity of its outlet to the south of Belgrade, and that IKEA will try to facilitate this. Moreover, IKEA is also interested in expanding its cooperation with the Serbian furniture industry.

In your opinion, what has the entry of Ikea brought to Serbia when it comes to the expansion of economic cooperation between our two countries? - The establishment of IKEA in

The level of the trade exchange in goods between Nordic countries and Serbia is relatively low, but is nevertheless advancing. Where do the potentials and challenges lie? - I see great opportunities in the

mining sector, where Swedish companies like Sandvik, Atlas Copco and Volvo are world leaders in delivering suitable equipment. We also see considerable interest in investing in manufacturing, where Serbia is quite competitive for greenfield investments today, in terms of production costs. Infrastructure investment is likely to continue to expand and here again there could be opportunities for Swedish engineering solutions in areas like, for example, road safety. As to challenges, Serbia must keep working on the rule of law and transparency in connection with, for example, public procurement. To what extent have gatherings of this kind succeeded in yielding tangible business deals and what are your expectations of this investment forum? - I believe gatherings such as these are a good way for investors and exporters to get a quick update on where Serbia stands in terms of business opportunities, and to adapt their planning accordingly.

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Frozen Health From Serbia Elixir Food is one of Serbia's largest processors and exporters of frozen fruits and vegetables. Its composition includes three factories located in Serbia's most important fruit growing areas, which are known for the production of the best fruits and vegetables, thanks to their geographical position and favourable climatic conditions VERA POPOVIĆ COMMERCIAL SECTOR DIRECTOR, ELIXIR FOOD D.O.O. (LTD.)

e discussed this company, which prepares almost all of its capacity for intended export, with Vera Popović, Commercial Sector Director at Elixir Food d.o.o.

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What are the production capacities of Elixir Food’s cold storage facilities in Šabac, Ivanjica and Bajina Bašta? - Elixir Food has a total processing and storage capacity of 18,500 tonnes of frozen fruit and vegetables, with a daily capacity of 550 tonnes. The cold storage facility in Šabac is the largest and has a capacity of 10,500 tonnes, or a daily freezing capacity of 250 tonnes. The facilities in Bajina Bašta and Ivanjica have a smaller capacity – 4,000 tonnes of processing and storage and a daily capacity of 150 tonnes. Elixir Food achieved 80 per cent of its sales revenue on foreign markets. We achieved this thanks to state-of-the-art technology, professional and well-trained staff, and by working in accordance with the highest world standards. This is the only way to ensure a high level of product quality. Which types of fruit and vegetables do you process? - Our cold storage facilities are exclusively used to process fruits and vegetables from Serbia, sourced from the vicinity of Šabac, Ivanjica and Bajina Bašta. That’s a well-known fruit

growing region with very healthy and unpolluted soil. We process raspberries, apricots, plums, blackberries, strawberries and cherries, while as of this year we’ve also started processing peaches and apples. When it comes to vegetables, our cold storage facilities are used to freeze bell peppers, cauliflower and broccoli. All of our suppliers – growers of fruits and vegetables – are proven and long-term collaborators. The quality of their products is an imperative. Thanks to continuous investments in production processes and product quality, Elixir Food manages to achieve competitiveness and conquer even the world’s most developed markets.

system and implementation concept of the BRC food safety system covering the area of fruit and vegetable sales, processing and freezing. Checks of the quality of the system have confirmed that all requirements have been met for the analysis and control of potential hazards, global standards for food safety and international standards for food quality and safety. In addition to these standards, Elixir Food also possesses a certificate confirming that our food can be consumed by members of the Jewish religious community. The certificates and standards we possess include BRC, IFS, GLOBAL GAP, KOSHER, ORGANIC and BSCI.

All of our suppliers – growers of fruits and vegetables – are proven and long-term collaborators Foreign markets are very demanding when it comes to standards related to food exports. What standards did you have to formally satisfy? - Last year alone we realised exports to 26 countries. In order to respond to all market demands, with the aim of achieving the full satisfaction of all stakeholders, our company’s policy is based on ensuring the highest level of quality and safety of products and services. Elixir Food has introduced and implements the quality management

Our goal is to protect people, goods and the environment, to work humanely in the community and operate responsibly, while our resources are innovation and investment. Our CSR activities are aimed at helping vulnerable sections of the population, supporting professional and child sports, promoting a healthy lifestyle, supporting scientific research activities and cultural institutions, and strengthening partnership relations with the local and regional communities in which we operate.

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From Ideas To The Roof

ZDRAVKO DRAGAŠ B.SC. ENGINEER, EXECUTIVE DIRECTOR OF CEMA D.O.O. (LTD.)

odgorica-based CEMA d.o.o. is a construction company that has been engaged for a long time on the development of internal architecture projects, landscaping, designing internal water supply and sewage installations and building architecure, says CEMA Executive Director Zdravko Dragaš. Your company operates according to the turnkey system. What kind of work do you offer and carry out for your clients? - As our name implies (C-construction, E-Electricity, M-machine engineering, A-architecture) with a staff of experienced engineers of different profiles, we are focused on providing intellectual services for the complete design and engineering of residential-business and infrastructure facilities in Montenegro. Apart from design, we are also involved in the implementation of installation and construction works gained via the market competition of public procurement tenders and international organisations. Who are your key partners and what projects are you working on currently? - Our company’s key partners are state institutions within the public procurement system. We are currently cooperating in the design area with several Montenegrin municipalities and ministries. Meanwhile, in the area of works implementation we are cooperating, alongside municipalities, with the Ministry of Defence, UNDP Montenegro, the Pljevlja Coal Mine, Public Institution Dorms of pupils and students of Podgorica, KIC Budo Tomović, electric power transmission system Crnogorski Elektroprenosni Sistem A.D. and others.

ANDREJA PAVLOVIĆ EXECUTIVE DIRECTOR OF THE NORDIC BUSINESS ALLIANCE

The Nordic Model Is An Inspiration For All Our Activities The core values and vision of the Nordic Business Alliance remain intact to this day, and our agile roots allow us to go back to basics whenever necessary

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e are pleased to say that we today have a very lively and changing Nordic business community in Serbia. In the meantime we’ve established partnerships with different stakeholders, worked to promote many initiatives and participated in projects that are vital to representing Nordic interests, values and norms. The Nordic Business Alliance is a local organisation, a grassroots initiative with an evolutive development model. Our founders are companies from the Nordic private sector in Serbia. We don’t have a network of international organisations to depend on, but I would stress that this background is one of the key advantages allowing us

to respond to the challenges of being a business sector coordinator in an emerging market. Our core values and vision remain intact to this day, and our agile roots allow us to go back to basics whenever necessary. I would like to present not only our insight regarding the local markets from the Nordic perspective, but also the broader picture of a very lively and changing Nordic business community in Serbia, all the while representing the viewpoint that most of the lessons learned here are applicable to any emerging market, from Ukraine to China. The Nordic Business Alliance functions as a partner to the public sector. We support transparent and just regulations and have a watchdog function on the execu-

We are here to provide value to our community, whilst being a force for the transformation of the wider business community, using the Nordic model as a base and the inspiration for all our activities

tion of policies important to our member companies and the wider business community. Since the beginning of my tenure as executive director of Nordic Business Alliance in Serbia, we have organised numerous panel discussions with the prime ministers and ministers of the Government of Serbia to address trending business topics, whilst also being there to follow up with project activities that emerged as a direct continuation of the noted meetings. We initiated a “Nordic Taskforce”, in partnership with the embassies of all Nordic countries in Belgrade, for the purpose of supporting transparent and efficient public procurement in Serbia. We are in the process of initiating new Nordic task forces on other topics of importance. We initiated a joint effort of private sector stakeholders in the area of philanthropy, in order to receive an obligatory legal interpretation on

tax return policy from the Ministry of Finance, which resulted in more widespread use of the article of the Law that allows refunds and incentives, which in return increased the net amount of funds collected in Serbia that are to be donated to various needy recipients. In a different sector, we have initiated the reform and digitalisation of the application procedure for the compliance of clinical studies, which led to the optimisation of administrative processes and the shortening of the average time for the completion of procedures from nine to two months. As a result of this, we increased the relevance of Serbia as a location for clinical trials, leading to manifold increases in investments in this area of the healthcare sector in the period of just one calendar year. Another role I would highlight is the one we have as the acting main partner for the foreign direct investment of West Pharmaceuticals Services, Inc.

in Kovin (Serbia) for a potential incoming high-tech manufacturing plant of medical devices. Our bottom line is that we are there to provide value to our community, whilst being a force for the transformation of the wider business community, using the Nordic model as a base and the inspiration for all our activities. Our values, business culture and approach is what makes us different, and our mission has been to present what we do as a good model for all interested parties

We see our background of a grassroots initiative with an evolutive development model as one of the key advantages that allows us to respond to the challenges of being a business sector coordinator in an emerging market to follow, both in the private and public sectors. Our vision led us to a very vibrant community that has established itself among the most relevant private sector players in Serbia, and we will be here

to present our case with the wish that our grassroots initiative will be an inspiration for similar organisations in markets that would benefit from our experience and approach.

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From Boots To Fashionable Opanak Shoes Our basic principles of production and implementation growth are quantity, quality and continuity. Our comparative advantages as a manufacturer are reflected in our capacities, development capabilities and the technological conditions in which value is created

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VLADIMIR ILIĆ GENERAL MANAGER, TIGAR A.D.

he Tigar a.d. production portfolio is present on all continents. Production and exports for strategic buyers, under other brand names, are carried out for Berner from Finland, Madir from Romania and Ilse Jackobsen from Denmark, and they account for more than 65% of total realised exports, says Tigar A.D. General Manager Vladimir Ilić. Which customers are your products intended for and what sets you apart from the competition? - For Berner we produce special footwear intended for the Finnish and Swedish armies, while under the Nokian brand we produce work, leisure, hunting and children’s boots. Our factory is currently producing 15,000 pairs of special boots for the Finnish Army, while next year we will produce boots for the Army of Sweden. Continuous engagements with this partner range in value from 2.5 to 3.5 million euros a year, or from 110,000 to 140,000 pairs of footwear, depending on the assortment and complexity of the production programme. For Madir – a branch of French company Decathlon - we work for the brands Solognac and Tribord on bespoke hunting and leisure boots, and under the Ilse Jackobsen brand our facilities produce a women’s fashion programme. Compared to 2017, Tigar a.d. has doubled its production and realisation for this group. A strategically significant production programme is that of protective steel-capped footwear, fire department and forest

protection service boots, which we produce for Sweden (L&N) and Poland (Intechplast). For Regency from Canada we produce a special protective line of mining boots, while we export fire department protection boots to Hong Kong and the Belle Goutte fashionable opanak shoe to Japan. In the Balkans we sell products under the Tigar brand, which includes work, hunting, fishing, protective, fashion and children’s boots. Unlike exports, customers on the domestic market are orientated towards theTigar brand: opanak, low and high work footwear. Our basic principles of production and implementation growth are quantity, quality and continuity. Our comparative advantages as a manu-

with caterpillar tracks and invulnerable wheels for military equipment. Recycled rubber products stand out: sports fields, children’s playgrounds, athletic tracks, road signage and construction products, ballistic blocks and flood prevention blocks. Which certificates of standards do you possess? - Important buyers and world brands produce their rubber footwear at our factory, which has an advantage in terms of capacities, standard business conditions and certificates. Guarantees that production takes place in safe working conditions for workers and the environment are confirmed by renowned certification company

We own the technology for bonding rubber conveyor belts in mines in South Africa and Bulgaria facturer are reflected in our capacities, development capabilities and the technological conditions in which value is created. Which other products from your portfolio would you single out? - When it comes to other programmes, exports of adhesives for the mining industry are important. We own the technology for bonding rubber conveyor belts in mines in South Africa and Bulgaria. Among the strategic products of the Tigar Technical Rubber Factory are military industry products: fuel tanks for combat aircraft, support wheels for armoured combat vehicles

SGS, which this year performed a HRP check at the request of our customer and world-renowned brand Dechatlon. An array of activities and major investments have created production conditions for our workers that are at the level of European standards. All footwear has complete certification required for realising sales on foreign markets - certified according to EU, U.S. and Canadian standards. Tigar, as a company that has a tradition dating back more than eight decades and which has existed on the market since 1935, was among the first companies in Serbia to introduce the 9001, 14001, 18001 standards.

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MPC Properties Invests 45 Million Euro In New Business Property

eputy Mayor of Belgrade, Goran VesiÄ&#x2021;, and Director of MPC Properties Ingo Nissen, have laid the foundation stone for the construction of a new Business Class A facility, Navigator Business Center 2, marking the beginning of another important project of MPC Properties - the largest investor in the region of Southeast Europe. The investment value is estimated at more than 45 million euros, and the opening ceremony is planned for the first quarter of 2020. Navigator Business Center 2 is a modern and sustainable business class A class, consisting of a 3-floor underground garage with 500 parking spaces, ground floor and eight floors, which is designed and built following the LEED standards of green construction. Located in the heart of the business part of the city, with excellent connection with key city locations and only 15 minutes from Nikola Tesla Airport, Navigator Business Center 2 will cover a total area of 50,000 square meters, of which 27,000 will be for an issue. The name of the objects indicates that this is the second phase of the existing business complex, the Navigator Business Center, which already represents an attractive business destination in the city, which has already separated itself from its location, authentic architecture and modern concept. Navigator Business Center 2 is another significant investment in the portfolio of MPC Properties next to UĹ Ä&#x2020;E Shopping Center, Merkator Center Belgrade, Tower I and II Business Centers, Navigator Business Center, as well as other business and commercial buildings built according to the highest world standards. Confluence Property Management manages the new business facility.

BY JAMES MCWHINNEY

Worldâ&#x20AC;&#x2122;s

HAPPIEST PEOPLE Sweden, Norway, Finland, Denmark and Iceland (collectively the Nordic countries) have a combination of high living standards and low income disparity that has captured the worldâ&#x20AC;&#x2122;s attention. At a time when the growing gap between the rich and poor has become a political hot button in developed nations, the region known as Scandinavia has been cited by many scholars as a role model for economic opportunity and equality

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NORDIC CHALLENGES

he Nordic model is a term coined to capture the unique combination of free market capitalism and social benefits that have given rise to a society that enjoys a host of top-quality services, including free education and free healthcare, as well as generous, guaranteed pension payments for retirees. These benefits are funded by taxpayers and administered by the government for the benefit of all citizens. The citizens have a high degree of trust in their government and a history of working together to reach compromises and address societal challenges through democratic processes. Their policy makers have chosen a mixed economic system that reduces the gap between the rich and the poor through redistributive taxation and a robust public sector while preserving

the benefits of capitalism. The model is underpinned by a capitalist economy that encourages creative destruction. While the laws make it is easy for companies to shed workers and implement transformative business models, employees are supported by generous social welfare programs. The nationâ&#x20AC;&#x2122;s tax structure is based on individual rather than household income, coupled with a flat-tax. The result is a system that treats all citizens equally and encourages workforce participation. Gender equality is hallmark trait of the culture that not only results in a high degree of workplace participation by women but also a high level of parental engagement by men. What makes the Nordic model work? A combination of shared history and societal development are credited with much of its success. Un-

like areas that developed around the formation of large corporate-owned farms, the history of Scandinavia is largely one of family-driven agriculture. The result is a nation of small entrepreneurial enterprises directed by citizens facing the same set of challenges. Solutions that benefit one member of the society are likely to benefit all members. This collective mentality results in a citizenry that trust its government because the government is led by citizens seeking to create programs that benefit everyone. Accordingly, the citizens willingly chose to pay higher taxes in exchange for benefits that they and their family members will get to enjoy. The result is publicly funded services, such as healthcare and education that are of such high quality that private enterprise has no reason to offer these services or room to improve them. This mindset remained intact as capitalist enterprises developed. CHALLENGES The Nordic model faces some notable pressures to its sustainability. Two of the largest concerns are an aging population and influx of immigrants. In terms of an aging population, a large base of young taxpayers and a smaller population of older residents receiving services is the ideal scenario. As the population balance shifts the other way, benefit reductions are a likely outcome. Fortunately for their citizens, the Nordic nations have willingly chosen a path of greater equality for all citizens and have demonstrated an ability to work through their political differences for the greater good of all. In terms of immigration, Scandinavia attracts a notable influx of newcomers seeking to enjoy the

THE BOTTOM LINE The unwillingness of Marxists governments to make changes is likely to mean that philosophical discussions about implementation of the Nordic model will remain just that: discussions. The inability of developed nations to move beyond vitriolic political rhetoric coupled with their lack of shared culture due to geographically and ethnically

While outsiders argue vigorously in favor of social democracy or against so-called welfare states, the Scandinavians themselves make no effort at all to induce or coerce other nations into adopting the Nordic model diverse populations that lack shared experiences will similarly serve as barriers to implementation of the Nordic model in those countries. In any event, while outsiders argue vigorously in favor of social democracy or against so-called welfare states, the Scandinavians themselves make no effort at all to induce or coerce other nations into adopting the Nordic model. Rather, they seem content to work through their problems together in a collective manner that consistently results in placing them at the pinnacle of global surveys of the happiest people in the world.

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are of poor quality and that the rich have access to far better resources than the poor and that implementation of the Nordic model could solve these issues. Opponents of the Nordic model criticize the high taxes, high degree of government intervention and relatively low gross domestic product and productivity, noting that these all limit economic growth. They point out that the Nordic Model redistributes assets, limits the amount of money available for personal spending and consumption and encourages reliance on government subsidized programs.

POLITICS AND CONTROVERSY The Nordic model has created quite a bit of controversy outside of Scandinavia, Many people in countries operating under what is often referred to as “the American model” of capitalistic enterprise see the Nor-

dic model as an attractive alternative to the winner-take-all brand of capitalism that has resulted in poverty, a lack of affordable quality health care and education, a deteriorating social safety net, a lack of retirement security, massive scandals in the financial markets and tremendous income disparity. They point out that public services, such as education and government run programs in America

NORDIC CHALLENGES

generous public benefits. These new arrivals often come from nations that do not have a long, shared history of making decisions on behalf of the common good. While native Scandinavians tend to have a high degree of participation in the workforce as part of their collective decision to support the amenities their society offers, immigrants do not always share this vision. These new arrivals present a significant burden to the system and could, ultimately, result in its demise. Two other concerns include native citizens taking advantage of the generous benefits system and the impact of poor global economic conditions. Again, the culture of cooperation and shared interest in a strong social safety net has enabled these countries to adjust their benefit programs and continue to deliver a wide range of services even in the aftermath of the Great Recession. The Nordic model has attracted a significant amount of attention from other nations. Many wonder if it provides a template for smaller countries where citizens are more homogeneous in terms of their opinions and experiences yet live in poverty or repression as a result of Marxist government policies. Others believe it provides a template for reforming the unchecked capitalism that has created notable income inequality and dramatic differences between the quality of life between the rich and the poor in prosperous nations. Sitting between the controlled economy of Marxist regimes and unchecked capitalism at the other end of the spectrum, the Nordic model is sometimes referred to as “the third way.”

THE NORDIC MODEL

Embracing Globalisation BUSINESS PARTNER

& SHARING RISKS The Nordic social model holds the highest level of social insurance. Its main characteristic is its universal provision nature, which is based on the principle of "citizenship". Therefore, there exists a more generalised access, with lower conditionability, to the social provisions

he Nordic model is widely regarded as a benchmark. A number of comparative studies of economic and social performance have ranked the Nordics high. A common finding of cross-country comparisons is that the Nordics succeed better than other countries in combining economic efficiency and growth with a peaceful labour market, a fair distribution of income and social cohesion. The model is pointed to as a source of inspiration for other people in their search for a better social and economic system.

The model is pointed to as a source of inspiration for other people in their search for a better social and economic system On the other hand, we believe it is essential to preserve one central feature of the Nordic Model. The Nordics have been embracing both globalisation and the welfare state, and we argue that the security offered by collective mechanisms for sharing risks has been instrumental in enhancing a favourable attitude to globalisation and competition. This key characteristic of the model must be preserved – in order to maintain an economic and social climate which is conducive to future welfare and growth. Collective risk sharing should

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undermine the financial viability of the welfare state by increasing international factor mobility and tax competition between nations as well as by opening up the possibility of “social tourism” for eligible groups. Demographic change – in the form of an ageing population – increases the size of the passive population (retirees), while tending to decrease the size of the active population (workers). The result is a dramatic rise in the dependency ratio and a strong pressure towards increased social

On the other hand, many observers around the world are amazed that “the bumble-bee can fly” – that the Nordic economies can prosper and grow in spite of the presumably weak economic incentives associated with high tax wedges, a generous social security system and an egalitarian distribution of income. Critics have been looking for inner contradictions in the model and they have questioned its sustainability. Some argue that the economic performance of the Nordic countries is simply a result of exceptional and temporary advantages, bound to disappear over time. This report deals with the Nor-

spending and higher tax rates. The combination of ageing populations and high ambitions for welfare services will strain public finances, even more so if globalisation increases the mobility of jobs and labour. The sustainability of present tax-transfer systems and public systems of care for the elderly are being seriously put into question. In responding to these challenges we regard a number of proposed “solutions” as basically non-workable. For instance, the financial dilemma of the welfare state cannot be resolved through more rapid economic growth, higher taxes, increased fertility or more immigration.

THE NORDIC MODEL

dic model, the reasons why it has worked in the past, and the challenges it is being subjected to in the future. Present economic and social trends, including globalisation and demographic change, pose significant challenges to the model as we know it. The model will remain viable and successful only if the challenges and the need for reform are understood – and if action is taken. Globalisation is primarily an opportunity and not a threat. It has been the very basis of the growth in productivity and living standards that the Nordics have achieved. However, the continued trend of globalisation will put the model under pressure. The emerging economic giants in Asia and Latin America will force us to restructure our economies at a rapid pace; relocation of production and job losses need to be compensated for through innovations and growth in new activities. Simultaneously, globalisation may

THE NORDIC MODEL

continue to offer a safety net which helps workers and their families to cope with risks and to adapt to new requirements in times of change. In addition, we emphasize that a high rate of labour force participation is an indispensible ingredient of the model. There must be sufficient incentives – in the form of financial rewards and/or workfare elements – to participate in the labour force and to work. Lengthening working careers must go hand in hand with increasing longevity. The “social contract”, including the

Finally, investment in human capital should not be the victim of increasingly tight budget constraints; what is good for the young is good for the future of society. THE NORDIC MODEL There is indeed a social and economic system that can usefully be referred to as the Nordic model. Obviously, there are important differences between the economies and policies of the Nordic countries. (The Nordic group is in our case limited to Finland, Denmark and

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We believe that the basis of the model is a combination of collective risk sharing and openness to globalisation public pension system, should not be based on the assumption that the tax burden can be passed on to future generations in the form of rising tax rates. There is also a need to define the core tasks of the welfare state and to clarify the scope of the services that citizens are entitled to and should be able to expect. Higher productivity in the provision of welfare services is imperative and can be enhanced by, inter alia, privatisation and outsourcing of public services, though only in cases where difficult and important issues of governance can be dealt with satisfactorily.

Sweden, as Norway and Iceland would deserve special treatment due to their non-membership of the EU and their high reliance on oil and fishing respectively.) Yet, it is the similarities that are more striking, some of the principal features being the following: ·a comprehensive welfare state with an emphasis on transfers to households and publicly provided social serv ·a lot of public and/or private spending on investment in human capital, including child care and education as well as research and development (R&D); and ·a set of labour market insti-

tutions that include strong labour unions and employer associations, significant elements of wage coordination, relatively generous unemployment benefits and a prominent role for active labour market policies. To the extent that these features can be measured, the similarities of the Nordics are supported by statistical data. The Nordic countries tend to create a cluster of their own along many dimensions. Other European countries (notably the Netherlands and Austria) are often similar in certain respects, but in no important respect do we see an outlier among the Nordics. While the similarities are important, they are not in themselves the essence of the Nordic model; its crucial characteristics are more difficult to capture, they relate to intangible and systemic features. We believe that the basis of the model is a combination of collective risk sharing and openness to globalisation. There is a mutually supportive interaction between these two elements: collective risk sharing helps make globalisation acceptable to citizens, by facilitating adjustments that allow the economy to benefit from changing markets and to raise productivity and incomes. While having large public sectors, the Nordics are also embracing the market economy and actions to foster competition. Underpinning this virtuous interaction of security and flexibility is the widespread feeling of trust – among citizens and in public institutions – and a sense of fairness related to the egalitarian ambitions of the welfare state (education, social policy).

The Research Institute of the Finnish Economy. Authors Torben M. Andersen, Bengt Holmström, Seppo Honkapohja,Sixten Korkman, Hans Tson Söderström, Juhana Vartiainen

The Nordic countries have, in the last ten years, been ranked consistently as the “world’s best countries to live in”. Norway, Denmark, Sweden and Finland have become icons of fair societies, with both high economic productivity and an unequalled quality of life

social sustainability springs from the same strong set of values that sprang from a prolonged Enlightenment, continues Witoszek. The editors also point to the tradition of what they call sustainability thinking and practical knowledge that have been crucial to sustain life in the exposed, Northern coastal areas. According to the the editors, this knowledge and thinking has created inbuilt reflexes of cooperation in the Nordic societies.

tion crisis, the medialisation of politics, the fragmentation of work-life and the dominance of neoliberal values. They all challenge the ideals of equality, the tradition of strong cooperation, personal responsibility, and the pro-social mindset which have been the basis of the Nordic model’s success,” says Witoszek. A big question is whether these transformations will affect the future of the Nordic model. “Today, we see signs of polari-

A set of new challenges have arisen in the wake of the digitalised and globalised economy, the migration crisis, the medialisation of politics, the fragmentation of work-life and the dominance of neoliberal values sation in the Nordic societies, into “nationalist” and “cosmopolitan” camps. But our book’s main contention is that the Nordic model is relatively robust. This is partly thanks to the fact that these countries have created a sustainable modernity which takes time to dismantle,” says Witoszek. In evolutionary terms, the key to the Nordic model is its resilience, she concludes.

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The traditions of cooperation, for instance reflected in the Norwegian institution dugnad, has been central to the creation of the Nordic welfare societies. The book also discusses the future challenges of the Nordic model. Witoszek explains that the Nordic model is now at a crossroads: “A set of new challenges have arisen in the wake of the digitalised and globalised economy, the migra-

n a new book co-edited by Nina Witoszek and Atle Midttun, researchers from traditionally adverse disciplines such as evolutionary biology and human sciences, explore the drivers behind the Nordic model. The book is a bit provocative because it’s been inspired by the latest evolutionary science which insists that cooperative and altruistic groups beat selfish groups, says Research professor Witoszek. One of the main arguments in the book is that the Nordic countries have managed to create a sustainable modernity, thanks to an extraordinary balance of cooperation and competition. The editors insist there is a unique Nordic humanism, which has contributed to the Nordic countries’ cooperative and egalitarian societies. The humanism we are talking about goes back to the founding tradition of Christian Enlightenment and the ideas of social solidarity, equality and cooperative ethos. Though Norway, Denmark, Sweden and Finland may differ politically and economically, their

WHY NORDIC MODEL IS STILL BETTER THAN MOST?

The Nordic Puzzle

RETROSPECTIVE 2014/2018

Constructive

SUPPORT & SOLUTIONS THE NORDIC BUSINESS ALLIANCE in Serbia has in the last four years organised an entire series of different events, exhibitions, fairs, donations and other activities that provided excellent opportunities for members to share their knowledge and experience, and to network with their counterparts and potential business partners, becoming a platform for the exchange of ideas and experiences within the Nordic business community in Serbia

he aim of the Alliance is to promote Nordic values like innovation, openness, confidence and responsibility, and to transfer the business culture and knowhow of Nordic countries, finding constructive solutions to improve trade and help companies from the Nordic region to find potential partners in Serbia and vice versa. The Alliance also aims to support newly established companies and to enhance investments and trade.

Dragan Bjelogrlić, a Serbian actor and producer, shared with our members and friends his path from being an actor to becoming a successful director and producer. We spent several hours at the “SirOvina” wine cellar sipping wine from the Temet Winery in a relaxed and intimate atmosphere, listening to Mr Bjelogrlić’s stories illustrating the life and work of one of Serbia’s most successful actor-directors. 22ND DECEMBER 2014

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26TH JUNE 2014 DRAGAN BJELOGRLIĆ: “MY WAY”

of the Nordic Business Alliance in Serbia. 2ND JULY 2015

18TH MARCH 2015

The Nordic Business Alliance in Serbia organised a corporate retreat for member companies at the Husqvarna premises in Stara Pazova. Dejan Nedić, managing partner at FCB AFIRMA and member of the Board of Governors of the Nordic Business Alliance, spoke about new trends in the marketing and advertising domain. The event, organised at the Life Design Hotel, provided an opportunity to learn something about top creative ideas, to meet representatives of companies awarded worldwide and to understand the FCB advertising network, which has recently undergo exciting major change. This retrospective on advertising, innovations in the field of advertising and examples of good practise provided participant’s with a fresh view on established conventions in the field of marketing. The Nordic Business Alliance continues to bring together experts from various fields of business with the aim of improving the business environment through examples of good practises. 1ST JUNE 2015

7TH DECEMBER 2015 The Nordic Business Alliance held a working meeting with then Prime Minister Aleksandar Vučić. This conference marked the beginning of long-term cooperation with the aim of exerting mutual effort to remove obstacles to doing business for Nordic companies and, by extension, the entire business community in Serbia. Besides the Prime Minister, the government members that we had the pleasure of hosting included Economy Minister Željko Sertić, Labour Minister Aleksandar Vulin, Health Minister Zlatibor Lončar and Belgrade Mayor Siniša Mali, as well as state secretaries and other representatives of relevant Ministries. All Nordic Embassies in Belgrade had delegations present at the conference, with Swedish Ambassador H.E. Christer Asp and Finnish Ambassador H.E. Pertti Ikonen both personally attending the gathering.

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21ST JANUARY 2016 The Nordic Business Alliance, in partnership with the National Assembly of the Republic of Serbia, organised the event “Enticing investments to Serbia - preconditions and legislative framework”, the main goal of which was to familiarise attendees with factors that influence investment decisions for them to better improve the legislative framework, in order to attract new investments and improve cooperation between Nordic companies operating in Serbia, the

The “Nordic Design and Innovation” exhibition was staged at Radisson Blu Old Mill Hotel. Visitors had an opportunity to check out the products and services of IKEA, Telenor, Volvo, DSV etc. With representatives of the embassies of Sweden and Finland and Ministry of Economy present, speakers at the opening including H.E. Christer Asp, Ambassador of the Kingdom of Sweden to Serbia, Ms Outi Isotalo, Deputy Head of Mission of the Embassy of Finland to Serbia, Mr Miloš Petrović, State secretary at the Ministry of the Economy of Serbia and Mr Andreja Pavlović, Executive Director

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The Chamber of Commerce & Industry of Serbia provided the venue for Minister Željko Sertić and representatives of the Nordic Business Alliance to discuss conditions for encouraging foreign companies already present in Serbia to stay and reinvest.

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Government of Serbia and the National Assembly of the Republic of Serbia. Speakers at the meeting included Vladimir Marinković, Deputy Speaker of the National Assembly of the Republic of Serbia, Željko Sertić, Economy Minister of the Republic of Serbia, Dusan Vujović, Finance Minister of the Republic of Serbia, H.E. Arne Sanes Bjornstad, Norwegian Ambassador to Serbia, Jasmina Vignjević, President of the Board of Governors of the Nordic Business Alliance, and, as honorary guest speaker, Telenor Group President and CEO Sigve Brekke. 21ST MARCH 2016 A conference on digital banking, trade and commerce was held at Belgrade’s Crowne Plaza Hotel, organised by Adria Media Group and Newsweek Magazine. The Nordic Business Alliance was one of the event’s partners and participants. Alongside representatives of the ICT and banking sectors, this conference was focused on the end-users of modern services and proved useful to a wider audience.

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6TH SEPTEMBER 2016 The Nordic Business Alliance, in partnership with the Embassy of Finland in Belgrade, organised a panel discussion with then Serbian Prime Minister Aleksandar Vučić at the Finnish Ambassadorial Residence of His Excellency Pertti Ikonen, entitled “Nordic Innovative Business in Serbia”. Envisaged as a platform for public-private dialogue, participants in the panel discussion presented to the Prime Minister actual challenges faced by our members and their business partners while doing business in Serbia. The panellists included Ambassador Ikonen, Telenor Srbija CEO Ingeborg Ofsthus, Novo Nordisk CEO Predrag Radošević, Tikkurila CEO Algirdas Kupavicius, IKEA Regional Development Manager Vladislav Lalić, Chair of the Nordic Business Alliance Board, Jasmina Vignjević, and the Executive Director of the Nordic Business Alliance, Andreja Pavlović, who served as moderator of the discussion. 9TH NOVEMBER 2016 The Hellenic Business Association, Slovenian Business

Club and Nordic Business Alliance jointly organised a “SPEED BUSINESS MEETING” event for their members at Belgrade’s Hyatt Regency Hotel. This event’s concept provides participating companies with the opportunity to efficiently present themselves, their services and their products to all event participants. 17TH NOVEMBER 2016

The Nordic Business Alliance and company Trizma, in partnership with the Norwegian Embassy in Belgrade, organised a lecture entitled “Beyond Budgeting” at the Norwegian ambassadorial residence. The lecture was given by Bjarte Bogsnes, the creator of “Beyond Budgeting” and vice president of Statoil – the largest oil company in the Nordic region. 9TH DECEMBER 2016

The Nordic Business Alliance organised a visit to the city of Smederevo. The visit began with addresses delivered by Smederevo Mayor Dr. Jasna Avramović, Swedish Ambassador to Serbia H.E. Jan Lundin and Nordic Business Alliance in Serbia Executive Director Andreja Pavlović. The Director of Smederevo’s Free Trade Zone, Milica Mijatović, presented local investment capacities, examples of good practises and local conditions for doing business. The free trade zone was also toured, while the visit culminated with the organising of

21ST DECEMBER 2016

The regular annual assembly of Nordic Business Alliance members was held at Belgrade’s Radisson BLU Old Mill Hotel. Alongside the submitting of reports to members, priorities were set that will guide the Nordic Business Alliance throughout the next calendar year. Following the Assembly, members had an opportunity to summarise their positive impressions of the current year at a reception held in the spirit of the New Year holidays. 3RD APRIL 2017

A delegation of the Nordic Business Alliance, led by Norwegian Ambassador in Belgrade H.E. Arne Sannes Bjornstad, met with Niš Mayor Darko Bulatović and representatives of the city authorities to discuss possibilities for cooperation and local projects that could include the participation of members of the Nordic Business Alliance. This was followed by a meeting between delegation members and representatives of companies that operate in Niš, both public enterprises and private companies, including foreign investors present in Niš. 6TH APRIL 2017

Representatives of Nordic Business Alliance member companies met with representatives of the American Chamber of Commerce in Serbia and the FrenchSerbian Chamber of Commerce for a series of “quick business meetings” (Business Speed Meeting). The event provided members of business associations with the opportunity to expand their contact network and establish a good base for future cooperation through this innovative format of informal meetings. The Business Speed Meeting concept consists of a series of short ten-minute business meetings that aim to contribute to business development and the establishment of contacts between participants, present companies’ activities and establish business cooperation with some of the most successful domestic and international companies. Over 40 participating members of the three chambers had the opportunity to speak one-to-one and consider potential models of cooperation.

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a B2B event at which members had the opportunity to acquaint themselves with foreign investors and public companies in the city of Smederevo.

20TH APRIL 2017 Belgrade’s Vizantija raft restaurant provided the venue for a large business gathering of eight European chambers of commerce present in Serbia. The reception was attended by 250 people, including members of chambers, foreign and domestic businesspeople and managers. This was the first and most important gathering to date of European chambers of commerce organised with the aim of networking members and strengthening cross-chamber cooperation. The event was attended by members of the Hellenic Business Association, the French-Serbian and German-Serbian chambers of commerce, the Chamber of Italian-Serbian Businessmen, the Belgian-Serbian Business Association, the Slovenian and Croatian business clubs, as well as the Nordic Business Alliance. This event is just the first in a series of joint events planned to be organised by representatives of the European economy in Serbia, which is the most prominent on the Serbian market, with the aim of promoting joint appearances, improving the business environment and supporting local institutions through transfers of the best European practises.

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13TH JUNE 2017 The Nordic Business Alliance and the Centre for the Economy jointly organised a short presentation and workshop at Belgrade’s Saint Ten Hotel on 13th June 2017, aimed at better familiarising those interested with The Bullet Proof® Manager programme from CRESTCOM,

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one of the world’s leading business education systems, which is now available in Serbia. The event was organised with the aim of ensuring that relevant business experiences, examples of good practise and success stories are heard in Serbia, along with the possibility for many ideas to be applied to daily operations immediately.

discussion with Serbian Prime Minister Ana Brnabić and experts from various fields, at which discussions revolved around the digital transformation process, public procurements and education for the future.

21ST SEPTEMBER 2017 23RD MARCH 2018

Innovation, education and sustainability were the three key words of the seminar “Sustainable and Innovative Business”, organised jointly by the Finnish Embassy and Suomi Finland 100 partner companies, with the support of the Nordic Business Alliance. The goal of this business event was to share experiences of the sustainable and innovative operations practised by Finnish companies and their distributors in their activities.

The Nordic Business Alliance organised celebrations of Nordic Day, together with Nordic colleagues. Nordic Day is dedicated to inter-governmental and inter-parliamentarian cooperation in northern Europe, which marks one of the oldest and most comprehensive regional cooperation initiatives. 18TH APRIL 2018

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28TH SEPTEMBER 2017 A 30-member Nordic delegation, led by the Ambassador of Finland and including representatives of the Nordic Embassies and Nordic companies operating in Serbia, visited Novi Sad and was welcomed to the city by Zdravko Jelušić, president of the city assembly, and Igor Mirović, First Minister of the Vojvodina Provincial Government, after which a meeting was also organised with Nikola Žeželj, Director of the Development Agency of Vojvodina and, finally, also a meeting with Boško Vučurević, President of the Vojvodina Chamber of Commerce. The last working segment was a B2B session with companies from Vojvodina. 31 OCTOBER 2017 Last October saw the Norwegian Embassy in Belgrade and the Nordic Business Alliance in Serbia hold a panel ST

The Embassy of Finland in Belgrade organised its annual get-together for Team Finland member companies. The aim of this event was to present the Embassy’s activities in 2018, while attending companies had an opportunity to share their plans and choose activities in which they want to participate. The Nordic Business Alliance in Serbia also presented its activities to be implemented in cooperation with the Embassy. 9TH MAY 2018 a Nordic delegation led by Finnish Ambassador and representatives of the Nordic Business Alliance visited the city of Kragujevac. The delegation included repre-

31ST MAY 2018

The Finnish Ambassador to Belgrade spoke to TV station N1 about the roundtable event “Public Procurement – the Nordic Experience”, jointly organised in Belgrade by the embassies of Finland, Denmark, Norway and Sweden, together with the Nordic Business Alliance in Serbia. You can check out the interview in its entirety here: http://rs.n1info.com/a392551/English/NEWS/Roundtable-about-public-procurement-with-Nordic-Alliancein-Belgarde.html 31ST MAY 2018

27TH SEPTEMBER 2018 The seminar ‘Power of Collaboration in Fintech from Finland’ was held at the Finnish ambassadorial residence in Belgrade and introduced the latest fintech solutions from Finland, while encouraging collaboration with local financial institutions. Presentations were given by Antti Kosunen, Chairman of the Board at Nestholma Fintech, Elina Mattila, Director of the Mobey Forum, Ivana Pešić, Managing Director of company House Eleven, and Andreja Pavlović, Executive director of the Nordic Business Alliance. Finnish fintech companies, which are the leaders in this field, have started planning their future activities together with local banks, insurance companies, the government, public organisations and other relevant stakeholders in Serbia.

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9TH NOVEMBER 2018 The Nordic Business Alliance, together with Nordic embassies, held a conference entitled “NorDig” at the Yugoslav Cinematheque Film Archives, with the event opened by Serbian Government Minister Branko Ružić. In dialogue with representatives of Serbian institutions and companies, four Nordic experts familiarised us with experiences in the field of digitalising public sector systems and services. From origins to future plans, they addressed everything from the digitalisation of the entire public administration to specific tax issues and cyber security.

The embassies of Denmark, Finland, Norway and Sweden, together with the Nordic Business Alliance in Serbia, organised a seminar entitled “Public Procurement - Nordic Experiences” at the Finnish ambassadorial residence in Belgrade. The seminar is a continuation of the publicprivate dialogue conducted between Nordic companies and institutions with the Government of the Republic of Serbia and is aimed at providing a forum for defining conclusions on joint efforts towards further improvements in the domain of public procurement in Serbia. Experts from Denmark and Sweden presented examples of good practises from these countries in

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sentatives of Nordic Embassies and Nordic companies doing business in Serbia.

the field of public procurement. Morten Kure Ringor of the Danish Public Procurement Organisation pointed out this institution’s contribution to savings in the public sector, amounting to more than 130 million euros annually. Ola Anderson, director of the Swedish Development Agency in Serbia, pointed out that Serbia, through the improvement of public procurement processes, also has the opportunity to create a better business environment. Sweden also supports Serbia’s reform efforts in the field of public procurement within the project “Improving mechanisms of responsibility in the field of public finances”, which is worth 1.9 million euros.