Focus on Greece 2022

athenian democracy developed around the 6th century bC in the Greek citystate (known as a polis) of athens, comprising the city of athens and the surrounding territory of attica.

Greece

FOCUS ON

heLLenic repubLic Greek People call their country different from the rest of the world. if you think that Greece is the official name of the country, you’ll be wrong. it is the hellenic Republic, or hellada, as Greeks usually say.

name Day (imenDan) similar to serbian slava, Greeks celebrate many saints like their name days. if someone has the same name as a saint, then their day will have a big celebration, even bigger than their birthday.

The Greeks invented the yoyo despite many believing it was invented in China. actually, the first mention of the yo-yo was in Greece in 500 bC.

since ancient years, Greek people have believed that a person can harm other people by sending off negative energy. This is why they wear an evil eye, a very popular piece of jewellery and souvenir, which is believed that can save someone from bad luck.

aThenian Democracy

The yo-yo is maDe in greece

The eviL eye supersTiTion

An Excellent and long-standing bilateral relations

Greece’s stance on Kosovo is well-known and remains unchanged.

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We talked to H.E. Yorgos Diacofota kis, Ambassador of Greece to Serbia, about the Open Balkans initiative and Greek-Serbian coopera tion based on the 2019 Declaration of Strategic Partnership signed by the two countries.

The Open Balkans initiative brings together countries in the region so that Greece will be invited to next year’s summit in Tirana. What is your view on this initiative, and how do you see its future?

The Open Balkans is an important initiative because it has regional owner ship. It can improve mobility, trade and

cooperation among the countries of the region. It is important that it remain in line with the EU acquis.

Is the Open Balkans initiative a con solation prize for countries still far from full EU membership?

I believe that it is wrong to talk about a consolation prize or even a substitute for full EU membership. There is no substi tute for EU membership.

Initiatives such as the Open Balkans reflect a regional ownership and bring closer the countries involved. We expect that their fruitful cooperation be in line with the EU acquis and further pave the way to EU membership.

What is Greece’s official position re garding the European integration of Serbia and the countries of the Western Balkans?

Since the Thessaloniki Agenda (2003), Greece has been a staunch supporter of Southern Europe’s EU aspirations. As the oldest member of NATO and the EU in the region, Greece has invested a lot of effort to bring its neighbours closer to Europe and its values. Greece has led initiatives to advance regional cooperation and promote connectivity and synergies among the countries of the region.

Take as a recent example our initia tive to provide energy security to the

Greece is one of the first and big investors in Serbia, and one important trade partner of Serbia.

H.E. YorgoS diacofotakiS Ambassador of Greece to Serbia

Balkans and beyond through the port of Alexandroupolis. We believe in and firmly support the European perspec tive of all Western Balkan countries.

As the first Balkan country to join the EU and benefit from its European integration, Greece is constantly trying to assist its neighbouring countries in following this same path and is con tinuously working on ensuring that the Western Balkans remain at the top of the EU agenda. We want to welcome Serbia, as well as the other countries of the region, as members of the Euro pean family. Reforms and patience are needed in order to reach the EU acquis. However, based on our own experi ence, I must say that these long-term efforts are worthy, as they can ensure stability, prosperity and security for Serbia and the entire region.

You recently stated that Greece is not changing its position on Koso vo and that there is no pressure on your country to recognise Kosovo. Why do you think Serbia is afraid that Greece might still recognise Kosovo? How do you see the solu tion to the Kosovo dispute?

I think that the first part of your question should be addressed to oth ers, not me.

Greece’s stance on Kosovo is well known and remains unchanged. We firmly believe that issues of this nature must be resolved through dialogue, with mutually accepted solutions.

Greece fully supports the EUfacilitated dialogue between Belgrade and Pristina. Together with the other EU Member States, we fully support the effort undertaken by Mr. M. Lajcak and commend his valuable work. We are looking forward to a comprehen sive agreement between Belgrade and Pristina, as provided for by the EU Council Conclusions, in line with the EU acquis.

How much did the crash of a Ukrainian plane with Serbian weapons near Kavala in Greece threaten the otherwise excellent

relations between the two coun tries? What was the biggest prob lem for Greece in this incident and how was it resolved with the Serbi an side?

Regarding this tragic accident, which occurred last July and claimed the lives of the crew, it is needless to point out that the crash could have taken place in nearby villages and in habited areas. It is a miracle that this did not happen. Since the aircraft took off from Serbia and its dangerous cargo was loaded in Serbia, we consider that the Serbian authorities should have in formed in advance Greece’s competent authorities, in accordance with the international regulations in force. We requested information and clarifica tions from the Serbian side. The whole matter was dealt in good faith between the two Governments.

How do you see the future of Serbi an-Greek cooperation on the politi cal, economic and cultural levels?

The Joint Declaration on the Strate gic Partnership between our countries, which was signed in Athens in Decem ber 2019 outlines our bilateral coopera tion in various fields and is solid proof of our excellent, long-standing bilat eral relations. Within this framework, we are determined to enhance our cooperation.

We also pay special attention to the exchange of high-level visits and try to expand our cooperation through re gional multilateral, trilateral and quad rilateral formats.

What is the economic coopera tion between Serbia and Greece to day, considering the pandemic, the Ukrainian crisis, sanctions against Russia and the impending energy crisis? Where are our two countries in all this? Greece is one of the larg est and most important investors in Serbia. Are you satisfied with the scope of economic cooperation, and where do you see opportunities for improvement?

As you mentioned, Greece is one of the first and big investors in Serbia, and one important trade partner of Serbia. Of course, there is plenty of room for our bilateral cooperation to be strengthened and expanded.

Over the past two decades, the Greek private sector has invested ap proximately 2.5 billion Euros and cre ated around 25.000 jobs. Serbia is an important business partner and many Greek companies are active in various fields of the Serbian economy, such as construction, building materials, fuels, energy, food and beverage, etc.

Over the past two years, both coun tries have faced the consequences of the pandemic, and recently the Ukraine war, and its impact on the

global economy and energy market. Both countries are faced with many challenges, especially in the field of energy, the need to secure stable prices in the market. It is time now to reaf firm that Greece and Serbia are two countries that are connected not only by geography and history, culture and religion, but also by our common vi sion towards sustainable development and prosperity in our region.

Serbia has demonstrated an impres sive resilience during the pandemic, while Greece has recovered rapidly, at taining important growth rates.

In recent years the annual volume of bilateral trade amounted to 500 million euros while the exchange of services is also estimated around 500 million. I am confident that both fig ures can increase dramatically in the future. It is noteworthy that, only the first six months of 2022, bilateral trade has reached the amount of 400 million euros, according to the Hellenic Statis tical Authority’s data.

Until the end of 2022 we are ex pecting to welcome around 900,000 Serbian tourists, approaching the prepandemic levels. Serbia has also been advancing as a tourism destination for Greek people.

We are ready to support investments in your country. Areas in which we can further boost our bilateral economic cooperation and which can also reflect the future presence of Greek invest ments in Serbia are energy, transport, infrastructure, recycling, wastewater treatment, information and commu nication technologies, the IT sector, tourism, food and beverage trade, agri culture, construction, etc.

Our Prime Minister, Mr. Mitsotakis, has underlined that the modernisa tion of the Piraeus-Thessaloniki-Skop je-Belgrade railway axis is of strategic importance, as it will contribute to an improved trade and transport network and enhanced connectivity. It will also promote effectively sustainable mobility and development in South East Europe and further cooperation with Serbia and the countries of the Western Balkans, as a means of ensur ing stability and welfare in the wider region.

Greece also supports the construc tion of the Interconnection Bulgaria – Serbia, and its connection with TAP, through the Interconnector GreeceBulgaria, that will strengthen Serbia’s energy diversification. And of course, the port of Alexandroupolis, as a gateway for LNG is something that interests not only Greece, but also South Eastern Europe as a whole. Our ultimate objective is energy security, affordable prices and diversification of the energy sources, taking into ac count the new landscape after the war in Ukraine.

we believe in and firmly support the European perspective of all western balkan countries

Photo: Pixabay

The Open balkan initiative creates opportunities for Greece

in order to create a friendly business environment, s erbia is moving forward by adopting eU standards.

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Vassilis Skronias, minister counsel lor for Economic and Commercial Affairs from Greek Embassy in Bel grade, in this interview reveals to us how the Open Balkan initiative reflects on Greek and Serbian cooperation, and what are the main challenges that Greek busi ness experience in Serbia.

How will the Open Balkans initia tive help the development of econom ic relations in the region, and does the Greek economy see an interest in this kind of integration of its neighbour hood?

The Open Balkan Initiative managed to create synergies in the area of economic cooperation among the member coun tries- faster flow of people, goods, capital and services, growth of all economic in dicators, better and more comprehensive political cooperation, prompt resolution of all internal problems and bureaucratic obstacles.

Since the beginning, the creation of the green corridors for the transportation of foodstuff at the border crossings led to a 17 percent increase in trade in this sector.

It goes without saying that the Open Balkan Initiative is a regional project, but is not a substitute for membership in the EU; therefore, it should complement other EU initiatives. In any case, the Acquis Com munautaire should be taken into consid eration by all the countries involved in the above-mentioned initiative.

It is well known that many Greek com panies are active in Serbia, North Macedo nia and Albania, therefore facilitating trade between these countries can only have positive effects. Thus, the Open Balkan

initiative creates opportunities also for Greece, mainly in the field of transport and the expansion of networks in multiple sec tors, including multimodal transport and cost reduction of products.

Generally speaking about transport, Greece strongly supports investments and projects within the Trans-European Transport Network (TEN-T), as well as, related to the Western Balkan Countries, the interconnection of vertical axes to wards Greek strategic Ports, Highways and Railways (ie Pan-European Corridor X). We value regional cooperation with Serbia, as an effective tool for the development of the South East Europe. The development of transport networks, sustainably mobility, multi-modal infrastructure, moderniza tion of the rail connection ‘’Piraeus/Thes saloniki-Skopje-Belgrade-Budapest’’ are deemed as highly important. Especially the establishment of the Rail Freight Corridor 12 (RFC12), a main Regional Initiative, will facilitate the rail freight transport, from Pi raeus to Central and Western Europe.

Does Serbia’s non-participation in EU sanctions against Russia harm eco nomic cooperation between Greece and Serbia?

Serbia has its own specific policy re garding sanctions against Russia. Greece as a European Union member-state since the year 1981, is not used to make sugges tions to any third country on its policy choices. I believe the main issue for almost all European countries is the energy ef ficiency. Hopefully, the sound economic and business relations between Serbia and Greece will not be affected by the abovementioned issue.

As a former ‘’socialist’’ economy country, there are still old practices and areas where improvement is expected

In the EU accession process, did Serbia adopt the necessary standards for do ing business and in which areas do you think additional progress is needed?

In order to create a friendly business envi ronment, Serbia is moving forward by adopt ing EU standards through implementation of modern laws, simplification of procedures and a vast network of trade agreements. With its skilled easily-trained workforce, the cost-effectiveness of Serbia as an investment destination is among the top appeals for expanding businesses. Thanks to govern ment reforms, it has jumped from 91st posi tion in the world to 42nd according to the last World Bank and IFC indexes, taking less than 12 days to form a new corporate entity. Duty-free exports, mainly to the EU market, composed of hundreds of million consum ers, have turned the country into a manu facturing hub for global businesses looking to expand in Eastern Europe, USA or Asia. In addition to that, it is worth saying that Serbia has managed to address the global economic recession better than most of its neighbours, highlighting the resilience of its economy.

Nevertheless, as a former ‘’socialist’’ econ omy country, there are still old practices and areas where improvement is expected, like: the effective enforcement of the new legal framework related to the free-market and fair competition rules (ie equal treatment at ten ders, intellectual property), faster operations and efficient banking rules, privatization of state owned enterprises and banks,, effective jurisdictional system, bureaucracy, anticorruption measures, energy, environment, rule of law etc. Moreover, there is a need to simplify trading across borders as it is both a costly and bureaucratic process (barriers on issuing export/import licenses, long customs

VaSSiliS SkroniaS Minister Counsellor for Economic and Commercial Affairs - Embassy of Greece in Serbia

clearance procedures-ie two weeks to import/ export goods because of non-tariff obstacles etc), enforce contracts and resolve insol vency, decrease the costs associated with obtaining construction permits, proceeding to the registration of property, getting credit and protecting investors etc.

Is there a joint strategy between the two countries to fight the energy crisis that inevitably awaits us during the winter?

Long time before the actual international energy crisis, Greece used to attach utmost importance in regional energy schemes, like Energy Community, CESEC or SEECP.

The Strategic Partnership between Greece and Serbia provides a solid basis for deepening our energy cooperation, diversi fy energy sources and routes, and maximize energy security for SEE countries. Thus, we actively support the Interconnector Bulgar ia Serbia (IBS) and its connection to Trans Adriatic Pipeline-TAP, through the Intercon nector Greece-Bulgaria (IGB) and the Verti cal Gas Corridor. The construction of the new Thessaloniki-Skopje pipeline, could be extended in Serbia as well. Greece remains always a strategic partner with Serbia, ready to look upon prospects on bilateral coopera tion in the electricity sector as well.

In addition to the above-mentioned pipe lines in Greece, the existing LNG Terminal in Revythoussa and the recently developed in Alexandroupolis, as well as the Underground Gas Storage in South Kavala, provide addi tional ways to further diversify natural gas energy sources.

Balkans could become an important transportation corridor for Europe’s energy supplies in the medium term. Indeed, West ern Balkans, as a new nearshoring destina tion, could strengthen EU supply chain resilience.

To survive the imminent energy crisis, Greece, among the European Union mem ber-states on one side and in cooperation with few third neighboring countries as well, tries to improve its energy coopera tion with its partners using all available ways and means. On the other side, Serbia benefits of preferential prices related to the Russian gas provisions, representing the two third of its needs. Following Prof. PhD Zorana Mihajlovic, Deputy Prime Minister and Minister of Mining and Energy, approx imately 50% of Serbia’s energy needs in oil is supplied by Russia or few other provid

Since the beginning, the creation of the green corridors for the transportation of foodstuff at the border crossings led to a 17 percent increase in trade in this sector.

ers and the 20% by domestic production; thus the Serbian market will not be affected significantly, in comparison with other countries. In addition to it, Mrs Jovanka Atanackovic, State Secretary in the Ministry of Mining and Energy, stated that Serbia will have to buy more 800 million m3 of natural gas of the international market in much higher price. But, in addition to this process, Serbia could get eventually profit as well, of the initiative ‘’REPower EU’’, aim ing to fast forward the green transition.

What is the trend of Greek investments in Serbia, and are there any Serbian in vestments in Greece?

Just after the war in the former Yugosla via, Greece has been one of the most impor tant investors (around 2,5 billion Euros). But during the Greek dept crisis, its debtors de cided the closure of most of the Greek banks abroad, reducing the level of Greek invest ments. Nowadays, approximately 250 com panies of Greek interest have invested more than 1.5 billion Euros in Serbia, employing 25,000 people. Greek owned companies in Serbia are involved in various business segments, from banking and real estate to construction of infrastructures (highways or airports), food/beverage industry and sup plying chains, trade, banking, distribution of fuel and oil, hospitality, telecommunication, transport, aluminum profile-cement-mining or sugar industries, logistics, renewable en ergy sources (R.E.S.), recycling, waste water treatment etc; we remind the last year merger of Eurobank with Direktna Bank and the acquiring of the 10,24% equity stake of the B.S.E. by the Athens Stock Exchange.

Regarding the Serbian investments in Greece, the main sectors are real estate and tourism.

During the previous years -before 2019 and after covid pandemic-, our annual bilat eral trade on goods and services surpassed the 900 million Euro. The big projects in Serbia may increase further our investments, trade and economic ties through the mod ern railways, Corridor X, highways, airports linking our cities, ports etc. Both countries should endorse policies aimed at develop ment of innovations and digital economy, especially in the fields of support to small and medium-sized enterprises, start-up com panies as well as promotions of partnerships between research centers and technological incubators.

What are the most common obstacles faced by Greek companies operating in Serbia?

The usual obstacles faced by the Greek and most of the European companies oper ating in Serbia, are the following:

• Delays due to excessive border controls, resulting in additional costs and dif ficulties when importing products to Serbia, negatively affect their competi tiveness.

• There are non-transparent procedures for the selection of the contractor for public works under design and non-

application of the EU Procurement Regulation. Despite the adoption of new legislation in line with the EU Regulations (‘’aquis’’), the country has not made significant improvements in the fight against corruption and the sanctioning of public procurement of fences etc.

• Outdated bureaucratic system regard ing import/export licenses, taxation etc, has to be reformed. Bureaucracy in Serbia leads to a dysfunctional ad ministration. For instance, a key role in this field would be to simplify and digitize the tax compliance process and strengthen tax education.

• Time-consuming legal proceedings of resolving business disputes are a well known issue.

• The modernization of the railway sec tor in Serbia represents an important challenge for the country’s freight co operation with Greece. A large number of railway lines are not used, while at the same time the speed of freight transport is far from satisfactory.

• Further simplification of the property rights registration may be considered as a critical problem. Although the pro cedure for obtaining a building permit in Serbia has been simplified, the com petent authorities should issue permits with the appropriate content. In ac cordance with the current regulations, the investor could register his property rights for newly built facilities without being exposed to additional loss of time and waste of funds, for obtaining additional, special documents.

• Unclear terms of labor law and lengthy procedure for issuing a work permit to a foreigner should be revised. Despite the benefits resulting from the latest amendments to the Law on Employ ment of Foreigners and the Law on Foreigners in Serbia, certain provisions still provide that a work permit may be issued on the basis of the foreign worker’s temporary residence permit; this aspect remains problematic.

• Because of the annual emigration of a percentage of Serbian labor forces and few other reasons, most of the compa nies have difficulties to hire enough and appropriate staff.

Some important Greek groups would have already proceeded to much higher in vestments in Serbia if the above-mentioned obstacles did not exist; because of a certain number of these obstacles, unfortunately, few other Greek firms left the country dur ing the last 20 years…

Last but not least, as Serbia has been the seventh and last assignment of my interna tional, professional career, before leaving Belgrade at the end of this year, I take the opportunity to thank “Diplomacy & Com merce” for giving me the chance to express my views, at least for twice, during my actu al mission and to wish all the best for pros perity to Serbia and its proud people.

Uncertainty is now the main feature of the business environment.

We have to make s erbia synonymous with a favourable state where organizations with skills and business ethics can develop their plans and flourish, creating value for the country and for the people of s erbia.

speaking with the manager of INOS Balkan, Iosif Vangelatos, we dis covered an optimistic message about our society and how we can and should cope with modern challenges and civil issues.

The war in Ukraine, sanctions against Russia, the energy crisis, and frequent shortages in supermarkets - all influ ence us to reassess our priorities on a personal level and reorganise our lives as necessary. But what is hap pening with business, with the indus try? How do turbulent times like this affect changes in goals and priorities?

At the end of 2021, and as humanity was celebrating the prevailing science over Covid-19 and the beginning of the post pandemic era within optimistic con templation of the future, there were many voices of concern, warning for the increas ing inflation rate, which could potentially undermine global economic growth.

The war in Ukraine only came to com plicate and worsen the situation. The strong dependence of the EU economy on Russian fossil energy resources and the potential disruptions in the energy supply chain have created new inflationary pres sure on the global economy.

Uncertainty is now the main feature of the business environment. Agility and adaptability is our choice in order to navi gate safely through the complexity of our times. Our response to the crisis is to create agile commercial policies, to identify and mitigate all kinds of risk and to maintain our financial liquidity. We are trying, always in close cooperation with our part ners, to resolve all disruptions in the sup ply chain, to secure the sourcing of raw ma terials for our productions units, while on the same time; we are keeping a low level of inventory, in order to anticipate the huge fluctuation on the prices of commodities.

Is turning to sustainable develop ment, circular economy, recycling, and savings a way to keep produc tion and business afloat until the

crisis passes? Can we be optimis tic and believe that some good prac tices adopted in these times of crisis will remain alive when the dangers have passed?

Being an optimist by nature, I am al ways considering that the time vector can only point towards the direction of evolu tion. Human race is facing climate change as the biggest challenge of our times. World nations have undertaken certain commitments on global level – i.e Paris agreement adopted in 2016 by 194 nations, COP26 Glascow Climate pact 2021 – and they have put in action the necessary tran sition policies.

The war in Ukraine and the corre sponding consequences on the energy sector will eventually speed up the tran sition to a sustainable business model. What was until yesterday, an environmen tal target today becomes a strategic or geo politics necessity. Some measures that EU states are currently considering – aka en ergy production from coal – are certainly temporary and short-term measure. The scope of those measures is nothing but to minimize the strong dependence of EU economy from the Russian fossil energy resources.

Moreover and on business level, we are witnessing the great impact of fossil fuels skyrocketing prices on all aspects of entrepreneurship. Scarcity of certain raw materials, as well as, supply chain increas ing costs, are underscoring the necessity for the quick transition to a circular eco nomic model.

We are witnessing how many for eign companies bring dirty technolo gies to our country. Fortunately, your company does not have such a co lonial attitude towards Serbia. How would you, as a responsible foreign investor, advise us in that field?

Most of our readers clearly understand the reference, implied by your question but I would like to take the chance and ex tend my reply a little further. In my point of view, not only reported pollution prob

Our respond to the crisis is to create agile commercial policies, to identify and mitigate all kinds of risk and to maintain our financial liquidity

lems and not only foreign companies are creating the issue.

Serbian economy is in a great need for Direct Foreign Investment (DFI) and therefore for an appropriate business environment. The basic components of what we define as a competitive business environment are; stable macroeconomic conditions, solid regulatory and legisla tive framework, transparent public sector related processes, rule of law and secured operations of independent regulatory au thorities - competition authorities etc.

As foreign investors in Serbia for more than twenty years, we are witnessing the continuing improvement of the business environment in Serbia. The more the country is aligning with the EU acquis, the more the competition and the parameters of economic freedom are improving.

In my perspective, a foreign or a do mestic company, which is irresponsibly polluting the environment is as toxic for the country as a company, foreign or domestic, which is violating the rules of competition or the labor and the financial legislative framework. Let us not forget that in many business environment sur veys, corruption is among the most fre quent reported problems.

A few days ago, I was visiting a super market in Belgrade, when someone parked his car next to mine on a parking spot des ignated for disabled people. When I, in a polite way and with my broken Serbian, in dicated to him the yellow color on the park ing spot, he replied me with a nice smile pictured on his face; “This is Serbia…”. The meaning of this phrase we have to revisit. We have to make Serbia synonymous to a favorable state, where organizations with skills and business ethics can develop their plans and flourish, creating value for the country and for the people of Serbia.

ioSif VangElatoS General manager, INOS Balkan doo

COrp Or ATE

Strong economic cooperation between Serbia and Greece

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Is Greece still among the biggest foreign investors in Serbia? Which of the recent investments (in 2021) would you like to single out as the most significant?

Greek companies are among the foreign investment pioneers in the country and have been present in Serbia for more than two decades. Today, Greek companies generate over one billion euros in annual turnover. Re garding new investments, in 2021, Eurobank has successfully completed the process of merger with Direktna Bank, which was one of the most important business activities of Greek companies in the previous period, as it validates the stability of the Greek banking presence in the country. Furthermore, the long-term successful cooperation and devel opment of business ties between the Athens Stock Exchange and Belgrade Stock Exchange resulted in the former buying 10.24 percent of the total number of shares of the Belgrade Stock Exchange.

e spoke with Nikolaos Sliousaregko, President of the management board of the Hellenic Business Association of Serbia (HBA), about Serbian-Greek cooperation in tourism, transport, energy and economy, as well as about the volume of that cooperation and plans and expectations for the near future.

The pandemic has significantly affect ed all segments of our lives, including business relationships and results. How would you rate the current economic cooperation between Serbia and Greece in light of the pandemic?

The pandemic has had a significant impact on the economic activity of all coun tries due to reduced business revenues and demand for goods and services but has also hampered supply chains. The service sector, especially the hospitality industry, faced the

biggest challenges, both in Serbia and Greece.

The Serbian economy has reverted to the prepandemic growth level, primarily thanks to the growth of private consumption and the increase in total investments. The same can be said for Greece, which has recovered from the recession, thanks to an adaptable mon etary policy and significant support from the EU, as confirmed by the IMF’s official reports.

The value of the external trade between Serbia and Greece went up in 2021 and amounted to 636 million euros, while the highest officials of the two countries stated that this year the positive trend could result in 1 billion euros in the coming period. It is very important that Serbia and Greece continuously show their willingness to strengthen bilateral relations and improve cooperation at all levels, as evi denced by the regular visits of the top officials from the two countries.

In the coming period, the Belgrade Stock Exchange will join the trading platform which the Athens and Cyprus stock exchanges al ready use and improve liquidity and the range of services. We are particularly pleased with the construction of the Super Vero and Jumbo hypermarkets in Novi Sad, thanks to which Veropoulos is expanding its activities to other cities in Serbia. Greek companies have longterm investment plans for Serbia and have been continuously investing in the Serbian economy, as proved by the long-term suc cessful operations of numerous companies, including Autostop Interiors, Hellenic Sugar Industry, Alumil YU Industry, Kleemann, EKO Hellenic, Isomat, Titan, Eurobank Direktna, Super Vero, Viohalco Group, Lampsa Group, Daskalantonakis Group, and many others. De spite the decrease in Greek investments due to the longstanding crisis, Greek interest in investing in Serbia is still present and focuses on small and medium-sized enterprises.

How much does the current crisis in Europe, caused by the war in Ukraine, sanctions against Russia and disagree ments within the EU, affect the econ omy? What challenges do your mem bers face?

The escalation of the crisis in Ukraine, apart from its tragic consequences, is a new focal point of economic uncertainty that exacerbates inflation challenges reflected in increased energy prices and key raw materi als prices, which will certainly have negative

The service sector, especially the hospitality industry, faced the biggest challenges.

nikolaoS SliouSarEgko President of the management board of Hellenic Business Association of Serbia

Serbian economy has reverted to the pre-pandemic growth level, primarily thanks to the growth of private consumption and the increase in total investments.

effect on the level of financial performance in 2022. At the same time, disagreements within the European Union related to a com mon position on the numerous challenges arising from the crisis, further complicate the already difficult circumstances in the economy. In terms of our members, Greek companies in Serbia are going through chal lenges that all the other companies in the country are facing - the crisis in Ukraine is hindering trade and logistics both from ter ritories affected by war or sanctions, but also from EU countries and China due to high transportation prices and difficult access to available roads for trading goods.

Europe is in for a very uncertain winter energy-wise. How is the Greek econo my preparing for the winter and is there a fear of stagnation in economic activi ties with Serbia and other neighbouring countries?

It is now quite certain that the energy crisis will affect the sudden increase in the prices of products and services, and will put pressure on purchasing power. At the recent ly held meeting of the EU Energy Council, we had the opportunity to hear the presentation of the Greek Minister of Environment and Energy, Mr Skrekas about Greece reduc ing the consumption of natural gas by 15% thanks to the increase in the use of renew able energy sources, as well as the fact that it doubled the production of electricity from lignite. Additionally, incentives for reduc ing electricity consumption in households by providing larger subsidies, as well as the possibility of introducing similar incentives for companies have been announced. Since the escalation of the conflict in Ukraine, the Greek economy has faced numerous chal lenges, which especially applies to large Greek companies that have suspended their economic activities in Russia.

On the other hand, in the last six months, Greek companies have managed to maintain open channels with foreign buyers and re main reliable suppliers despite the obstacles caused by the effects of the war in Ukraine, as evidenced by a recent analysis by the Panhel lenic Exporters Association and the Export Research Centre. . Based on this analysis which covers the period from January to June 2022, Greek exports increased by a total of 40 percent, while imports, in the same period, increased by 51.7%, thanks to European countries, which are traditionally the largest users of Greek products and services. Speak ing of developments in the energy sector, a new gas pipeline was completed in July this year that will deliver natural gas from Azer baijan to Bulgaria via Greece, and commercial deliveries should begin by October 1.

At the opening ceremony, the Prime Minister of Greece underlined that the inter connector provided an important boost to Europe’s common goal of achieving energy diversification, as it will transport gas from Azerbaijan through the Trans-Adriatic pipe line and from other sources via the planned liquefied natural gas terminal in Alexan droupolis, northern Greece. In particular, the

construction of an LNG terminal in the Greek port could help Serbia to diversify its energy sources, i.e. using gas from other sources.

In Serbia, the first thing that comes to mind when Greece is mentioned is sum mer vacation, and it seems that ordinary citizens do not know much about other forms of economic cooperation. Which industrial and economic branches would you like to single out in the Serbi an-Greek cooperation according to their scope and importance?

Our cooperation in tourism is certainly very well-known in Serbia, considering that over 50% of Serbian tourists spend their sum mer vacation in Greece. Specifically, in terms of the 2022, the available data indicates that 900,000 Serbs visited Greece during the sum mer. Still, there are other significant sectors of cooperation. Greek companies in Serbia are active in almost all economic sectors, especially in the hotel industry, construc tion, cement and sugar production, sector of construction material, aluminum profiles, oil trade, banking sector, food and beverage retail, service sector, etc. At the same time, in the previous period, very successful Serbian companies have managed to establish busi ness in Greece, through franchises and distri bution in the sectors like cosmetic products, sportswear and equipment and furniture.

In addition, the Declaration on the Strate gic Partnership of Serbia and Greece foresees the strengthening and establishment of co operation in the energy and mining sectors, such as the diversification of natural gas sup ply routes, connecting gas pipeline systems in Southeast Europe, the use of renewable energy sources, and linking electricity trans mission systems.

How important are the ever-improving traffic links (completion of the motor way, having more direct flights, etc.) for the economic cooperation between Ser bia and Greece?

A good transport connection between Ser bia and Greece is of strategic importance for the economic cooperation between the two countries, both for the tourism sector and trade exchange. A significant number of di rect flights from Belgrade and Niš to numer ous destinations in Greece certainly contrib ute to this, and the direct flight from Kraljevo to Thessaloniki, which was launched last year is equally important.. At the same time, we hope that flights to Greece will be established from the new airport in Kruševac as well. Furthermore, I have to mention Corridor 10 as the one of the most important pan-European transport corridors that pass through Serbia and connects it with Greece.

Finished road construction work on the section towards Greece has importantly fa cilitated the transport of people and goods, and at the same time, has the potential to attract direct foreign investments, due to a faster flow of goods and lower transport costs. The Memorandum of Understanding on the development of railway infrastructure of common interest, signed between Serbia and

Greece, contributes to potential improvement of cooperation in this type of transport. The process of modernizing the railway connec tions between the two countries is underway, while particularly significant potential is reflected in the possible development of the Belgrade-Budapest high-speed railway project into a modernized Budapest-Belgrade-Thes salonica-Athens railway project.

How important is the Thessaloniki Port and what are its advantages for the Serbian economy today?

The Thessaloniki Port and its connection with Piraeus have great importance for Serbia, both for imports and exports, but also for the operations of its river ports. The head of the Thessaloniki Port has stated that they have been actively working on upgrading the infra structure and improving railway connections with neighbouring countries, as well as on developing into a port of international impor tance capable of receiving direct calls of ships of main lines connecting South-Eastern, Central, Eastern Europe and the Balkans with the rest of the world. On August 17 of this year, the first container - block train left the terminal in Thessaloniki and arrived at the terminal in Niš on the same day.

In combination with several maritime lines, Serbia is thus connected to the Chinese, Indian, Middle Eastern, Eastern Mediter ranean, South Korean, and North American markets, while the Thessaloniki Port becomes a maritime gateway of Serbia. Plus, land ter minals will have to keep up with the Port’s development, which, in turn, creates the possibility for further improvement of infra structure in the country.

Although the age we live in is very difficult and not conducive to giving forecasts, could you tells us about the direction in which the SerbianGreek cooperation will take place the next year?

Current geopolitical events do not give us too much room for forecasts when it comes to any aspect of the economy and coopera tion, but we are certain that the economic and investment plan for the Western Balkans fa cilitates the long-term economic recovery of the region and it is based on the pillars of the green and digital transition. As such, it sup ports regional integration, creates numerous opportunities for the further development of trade relations, and at the same time, gives a geostrategic contribution to the region’s sta bility. Greece actively supports the European future of the Western Balkan countries and strives to contribute to its socio-economic development and the acceleration of the EU accession process. In this sense, and taking into account the expertise of Greek compa nies regarding renewable energy sources, there is great potential for further develop ment of cooperation in the implementation of the Green Agenda for Serbia. Specifically, cooperation in the coming period has the potential to focus on the circular economy, wastewater treatment, waste management, and construction.

Greece has reduced consumption of natural gas by 15% thanks to the increase in the use of renewable energy sources.

Greek companies are among the foreign investment pioneers in the country and have been present in Serbia for more than two decades.

The very good economic coopera tion between Greece and Serbia and numerous Greek invest ments in the Serbian economy would not have been possible without the strong support of the Hellenic Business Association (HBA). We spoke with the HBA director, Fanina Kovačević-Popaz, about the Association’s cooperation with public institutions and other chambers of commerce in our country.

The Hellenic Business Association in Serbia appointed a new board of directors in May. Who are the new board members and what will their business policy be in the next man date?

At this year‘s session of our General Assembly, held in May, our members elected a new Board of DirectorsNikolaos Sliousaregko (the Junior Ho tel) is the Board’s new Chairman, Vuk Dapčević (Eurobank Direktna) is the Deputy Chairman, while Vassilis Karana

sios (Coral SRB - Official Shell Licensee), Stylianos Tsoktouridis (Alumil YU In dustry) and Georgios Karafergias (Roda Točkovi) are elected as Board members. During its two-year mandate, the newly elected Board of Directors will contribute to the accomplishment of the Associa tion’s main goals relating to its visibility by the public institutions in Serbia and Greece, active representation of the Greek business community interests in Serbia, as well as to improvement of cooperation, both among members and with other local and foreign companies. Further, the new Board of Directors initiated a series of new activities aimed at better visibility and additional promo tion of each Association member. These activities include monthly visits of Board of Directors to the Association members, events hosted by member companies, as well as interviews with members’ representatives, which are now special supplements in our Newsletter. At the same time, the Association will continue

hellenic business Association recognized as a promoter of economic development

Together with the public institutions in s erbia and other chambers of commerce, we strive to create even better conditions for the development of the s erbian economy and foreign investments.

I NTE rVIE w

to organize activities that our members are used to, both for top management and for representatives of middle man agement. These include traditional cel ebrations, informal gatherings, sectoral workshops and seminars. As before, spe cial attention will be given to humanitar ian activities and the promotion of the Greek language and culture in Serbia.

Your Association also focuses on social and humanitarian work, as well as the promotion of Greek cul tural values in Serbia. Which relat ed activities would you like to sin gle out as the most significant in the previous period?

As pioneers among foreign investors in Serbia, Greek companies have been strongly focusing on humanitarian cam paigns and socially responsible projects for more than two decades through an active contribution to the development of local communities, environmental protection and the improvement of so

A predictable and stable investment environment is important in preparing realistic busi ness plans and their practical implementa tion.

fanina koVačEVićpopaZ Executive Director of Hellenic Business Association of Serbia

ciety in Serbia, as the host country, in its entirety. With the valuable support of our members, the Association strives to promote this kind of Greek business practice. At our traditional Christmas dinner, which is just one of the examples of such practice, we organized a humani tarian lottery to collect funds for the pur chase of necessary products for the daily life of children accommodated at the Dr. Milorad Pavlović Children’s Village in Sremska Kamenica.

Also, in cooperation with the Hellenic Foundation for Culture, and with the blessing of His Holiness the Patriarch of the Serbian Orthodox Church, Mr. Porfirije, we awarded scholarships for learning the Greek language to students of the University of Belgrade›s Orthodox Theology Faculty, who want to learn the modern Greek or to continue their stud ies in Greece. This initiative also reflects the intention of the Hellenic Business Association of Serbia to strengthen and improve the cultural and historical ties between Greece and Serbia.

HBA has been traditionally or ganizing workshops and lectures on topics that are important to busi ness people in Serbia. What are the HBA’s latest activities in this regard and how do they contribute to cre ating a more favourable business environment?

The Hellenic Business Association of Serbia organizes different events for its members in order to facilitate their networking, connection and exchange of experiences. The HBA also provides to its members the full support in commu nication with Serbian and Greek institu tions and in protection of their interests. Sectoral events that we hold, including workshops and lectures, give opportu nity to our members to do business in a predictable environment, as they inform them about current topics and at the same time represent a platform for ex changing business information. In April, in cooperation with our member compa ny V+O Communications and colleagues from the Croatian and Belgian associa tions, we organized a very successful workshop called “Digital Marketing in the Service of Your Business”. On this occasion our members had opportunity to hear more on the importance and use of the full potential of digital marketing through proven effective strategies.

During the workshop, the partici pants had a practicalassignment , as a way to practice their skills, exchange ideas with other participants and get feedback from the lecturer. Recently, and in cooperation with the Belgian-Serbian Business Association and the Croatian Business Club, we organized a workshop on inspection procedure and practical implementation of systemic legislation, titled “Rights and Obligations of Super vised Business Entities during Inspec tion Procedures”.

In recent years, Serbia has taken significant steps to build stable environment for the country’s economic development.

Do you collaborate with other busi ness associations of foreign inves tors in Serbia and if you do, what is this collaboration like? Could you tell us about your cooperation with state officials in Serbia, i.e. govern ment ministries, chambers of com merce, associations and govern ment agencies?

Our association actively cooperates with bilateral chambers in the country, since this type of synergy has proven to be a good basis for networking be tween local and foreign companies. In the previous period, we organized many joint activities, both at the interchamber level and with representatives of public institutions and ministries, which recognized the dialogue be tween the companies and the state as an important link in improving the business environment. The webinar with the National Employment Service, organized by 12 bilateral chambers of commerce, as well as the webinar with the Ministry of Mining and En ergy, organized by the French-Serbian, German-Serbian and Italian-Serbian chamber of commerce, as well as the Belgian-Serbian Business Association and our Association, are all good exam ples of this kind of cooperation.

I would especially like to single out that our Association has strengthen its cooperation with the Ministry of Economy, led by Minister Atanasković, who was the guest of honour at our traditional celebration of the Vasilopita Cutting this year. Regarding inter-cham ber activities, two traditional gatherings of bilateral chambers’ members were organized this year - the International Coffee Break within the Kopaonik Busi ness Forum, the International Network ing Cocktail, as well as the well-known

Speed Business Meetings that connect member companies.

What are the biggest obstacles that Greek investors in Serbia had to overcome? What are the benefits of doing business in Serbia?

A predictable and stable investment environment is important in preparing realistic business plans and their practi cal implementation, both for Greek and other companies in the Serbian market. The growing number of international companies in Serbia confirms that in recent years Serbia has taken significant steps to build a stable environment for the country’s economic development, which also proves that investors have recognized the positive economic and investment climate in the country. Free trade agreements that facilitate access to numerous markets, both inside and out side the EU, tax regulation and a flexible legal framework, as well as development of inter-regional connections through the initiative to form a single regional market in the Western Balkans are just some of the benefits of doing business in Serbia.

Certainly, there are challenges that Greek companies have been facing and these are mostly related to the Serbia’s EU integration process. The long period of harmonization with EU legislation, judicial reform and complex procedures for obtaining various business licenses, as well as customs procedures for imports are definitely the biggest chal lenges not only for Greek but also for other foreign companies that would like to expand their activities to the Serbian market. By solving these problems, Ser bia would certainly become one of the most desirable countries in the region for investments. tments.

Speed Business Meeting

Land ahoy!

Finally ashore ECONOmy

after a turbulent decade, the Greek economy is finally recov ering and coming into its own ground, freed from foreign tutelage and now, after the end of the pandemic (if it’s the end?), it is counting on tour ism and economic recovery... although there are many rocks on the way Greek economy was, during the last 10-15 years, mostly debated in a negative context, with poor macroeco nomic performance and hardships of ordinary people. But now, after years and years of troubles, the situation gets better, eventually.

The facts are grey, but they give us some insights. Namely, the Greek economy is the 48th largest economy in the world with a nominal gross do mestic product (GDP) of $192,691 bil lion per year. It is also the 55th largest economy in the world by purchasing power parity, at $288,418 billion an nually. As of 2017, Greece is the seven teenth largest economy in the Euro pean Union out of 28 member states. According to 2017 IMF estimates, Greece ranks 39th and 49th in the world with $18,637 and $27,737 respec tively for nominal GDP per capita and purchasing power parity per capita, say the World Bank and the International Monetary Fund.

But, the statistics say everything and hide it all, to paraphrase the old saying.

Of course, the Greeks were excellent shipbuilders. They have remained so. The world would be almost doomed without Greek vessels!

Greece is famous for three things: tour ism, shipping and agriculture. These three “legs” are the basic motors of the economy of on the southernmost countries in Europe. The nature was shaping the Greek economy even from the ancient times. It is predominantly “seaside nation”, and it used to form colonies across the Mediterranean, and to trade. Their direct opponents and competition at the time were the Phoenicians, who applied the same approach during their Golden Age, but the Phoenicians were finally de stroyed by the envious Romans, while the Greeks were simply incorporated into Rome with lots of admiration,

decisively influencing Roman culture and thought. At the time, Greece in fluenced the world with such ideas as philosophy, democracy, enlight enment, arts, plays, sports. Tourism was not a big deal back then. But the agriculture was! The Greek olives, am phores, cheese, wine... it was all highly appreciated across the known world.

Of course, the Greeks were excel lent shipbuilders. They have remained so. Therefore the Greek confidence in quarrels with any country – the world might be well doomed without Greek vessels. Greece is ranked fourth in the world by number of ships (3,695), be hind China (5,313), Japan (3,991), and Germany (3,833). A European Commu nity Shipowners‘ Associations report for 2011–2012 reveals that the Greek flag is the seventh-most-used inter nationally for shipping, while it ranks second in the EU. In terms of ship cate gories, Greek companies have 22.6% of the world‘s tankers! It remains for us to see how the forthcoming sanctions for Russian oil and its shipment will hit the Greek maritime transport industry, since many other companies will jump in to fill the void, whereas the Greek tankers will be left empty.

After the World War Two, Greece was devastated, and it took a long time to recover. The political instability was not helping. But after 2000, the Greek economic miracle happened, so the GDP rise was well above the Eurozone, signifying the “imperial period” of Greek economy, spurred by low-cost flights boom and the Schengen agree ment, together with the end of the modern Balkan Wars. But the World Economic Crisis after 2008, paired with the Eurozone crisis and the Greek government debt crisis lead to the sharp fall. Finally, recently it was an nounced that this nightmare is over, and the Greek government will finally be able to control its own budget. The new hit came this year with the loss of Russian, Ukrainian and Belarusian tourists, and the sanctions against Russia which has long been the first import partner of Greece. It is yet to see how the year will end and the transi tion to other markets will go.

Greeks like to invest in the Balkans. Greece is the largest foreign investor in Albania the third in Bulgaria, in the top-three in Romania and Serbia and the most important trading partner and largest foreign investor in North Macedonia. It is so strong. No wonder the Greeks are good in telecommunica tions, since they have always been the nation that connected all different part of the world, first with their ships, and then, by sea, with the conquest of the Alexander the Great.

And tourism. Oh, but it is quite another matter. In another, bigger ar ticle.

Photo: Wikimedia

Photo: Wikimedia

Economic cooperation: Serbia – Greece

The cooperation between the two countries’ chambers of commerce, both bilaterally and multilaterally, as well as cooperation with other institutions and associations in Greece, have been very successful and constant.

in the first eight months of 2022, the total external trade in goods with Greece amounted to 533.8 million euros. In the same period, im ports amounted to 194.5 million euros and exports 339.3 million euros.

According to the data from the State Statistical Institute, in the period from January to June 2022, the total external trade in goods with Greece amounted to 414.8 million euros. In the observed pe riod, imports amounted to 150.4 million euros, while imports stood at 264.4 mil lion euros. In the observed period, Serbia recorded a deficit in trading with Greece in the amount of 114.0 million euros. In the same period, the export-to-import ratio was 56.9%.

Based on data from the Republic of Serbia’s Ministry of Finance of - Customs Administration, in 2021, 2,082 com panies from Serbia did business with Greece.

According to the data of the Serbian Business Register Agency, from May 2022, Greek citizens, i.e. legal entities registered in Greece, owned 344 compa nies in Serbia.

Greek investors are mostly interested in investing in these economic branches - the food and beverage industry, infra structure, energy, environmental protec tion and transport. The Greeks have also shown interest in investing in the energy sector and renewable energy sources (Ak tor, Terna, etc.). Greek businesses are also keen to establish and boost cooperation in organic food production, tourism and innovation (technology transfer, etc.).

Greek construction company Terna S.A. signed a contract with the company VINCI Airports stipulating the extension and reconstruction of Belgrade›s Nikola Tesla airport, worth 262 million euros. Consortium VINCI Airports (with a 51

percent stake in the project) and Terna S.A. (with 49 percent) will have five years to implement the project. The project includes the construction of new passen ger terminal facilities spanning 42,000 square metres, as well as the renova tion of the existing are spanning 15,000 square metres, the construction of a new 3,500-metre-runway, renovation and up grading of the existing runway, etc.

There is also a great opportunity to improve the trade between the two countries, given that it is currently at a relatively low level. Thanks to several Greek and Serbian products being sold in respective countries via supermarket chains Delhaize Maxi (Delhaize) and Super Vero (Veropoulos), which are man aged by Greeks, the cooperation between the two countries received a significant boost, given that the top managers from both supermarket chains have expressed interest in marketing products from Ser bia in Greece and vice versa.

The legal regulation of public-private partnerships creates opportunities for joint projects of our state and Greek pri vate capital in motorway construction projects (primarily Corridor 10), as well as the development of accompanying infrastructure (motels, shopping malls, restaurants, etc.).

The cooperation between the two countries’ chambers of commerce, both bilaterally and multilaterally, as well as cooperation with other institutions and associations in Greece, have been very successful and constant.

Thanks to multilateral forums such as the Association of European Chambers, the Association of Mediterranean Cham bers, the Association of Balkan Chambers and the Black Sea Economic Cooperation, Serbia and Greece have been fostering ac tive cooperation.

Greek investors are mostly interested in investing in these economic branchesthe food and beverage industry, infrastructure, energy, environmental protection and transport.

On March 28 and 29, 2019, the state and business delegation of the Republic of Greece paid an official visit to the Re public of Serbia. The delegation was led by Mr. Sokratis Famellos, Alternate Environ ment and Energy Minister of the Republic of Greece. The commercial part of the delegation consisted of sixteen Greek companies from the environmental pro tection sector. Continuing to contribute to the development of the overall economic cooperation between Serbia and Greece in environmental protection, the Cham ber of Commerce and Industry of Serbia, with the support of the Serbian and Greek ministries, held the Serbia-Greece Busi ness Forum. The forum was attended by 16 Greek and 71 Serbian companies, and over 100 bilateral talks between compa nies’ representatives were held. The first day of the visit was dedicated to meetings of delegations at the ministerial level, during which the two ministries signed a Memorandum of Understanding on environmental protection. The second day of the visit was planned for economic cooperation and the Serbia-Greece Busi ness Forum, which aim was to foster cooperation between Serbia and Greece in environmental protection.

Under the auspices of the Athens Chamber of Commerce, a delegation of Greek business people visited Serbia on Thursday, March 5, 2020. On the occa sion, the Chamber of Commerce and Industry of Serbia, in cooperation with the Athens Chamber of Commerce, the Embassy of the Republic of Greece in Belgrade and Greek associations for the promotion of Greek businesses, Enter prise Greece and SEVE, organized the Serbia-Greece Business Forum and bilat eral business talks with the participation of over 100 Serbian and Greek business people.

COOpE r ATION

hbA is bringing the Greek and Serbian markets closer

With the valuable support of its members, the hba supports the promotion of the Greek language and culture and, at the same time, carries out humanitarian and socially responsible initiatives

The Hellenic Business Association of Serbia (HBA) aims to bring the Greek and Serbian markets closer, as well as to encourage continuous im provement of the business environment in the country. The association provides full support to its members in communi cation with Serbian and Greek institu tions, promotes the interests of the Greek business community and encourages Greek investment initiatives in Serbia. With the valuable support of its members, the HBA supports the promotion of the Greek language and culture and, at the same time, carries out humanitarian and socially responsible initiatives that dem onstrate the importance of solidarity and caring for the community.

workShop: rIghtS and oblIgatIonS of SubjectS In the InSpectIon procedure

The Hellenic Business Association of Serbia, the Belgian-Serbian Business As sociation and the Croatian Business Club organized a workshop titled “ Rights and Obligations of Supervised Business Enti

ties during Inspection Procedures “, on October 10, 2022, at the Saint Ten Hotel. During the workshop , lecturer and con sultant Milan Stefanović presented the practical implementation of systemic legislation in the inspection procedure. On this occasion, participants received answers to the most important questions regarding an inspection procedure, as well as the rights and obligations of all participants in an inspection. After the conference, the participants took part in a networking coffee break.

InternatIonal networkIng cocktaIl

On September 13, 2022, the 5th Inter national Networking Cocktail was held at the Metropol Palace Hotel, a unique event that gathers members of bilateral busi ness associations in Serbia. This year, the International Networking Cocktail was attended by the representatives of mem ber companies of the Hellenic Business Association of Serbia, the French-Serbian Chamber of Commerce, the German-Ser bian Chamber of Commerce, the Italian-

Serbian Chamber of Commerce, the Slove nian Business Club, the Croatian Business Club, the Swiss-Serbian Chamber of Com merce, the Japanese Business Alliance in Serbia, the Dutch-Serbian Business As sociation, the Canadian-Serbian Business Association, the Belgian-Serbian Business Association, the Nordic Business Alliance and the Business Club of the United Arab Emirates and Serbia.

hba memberS vISIt the alumIl yu InduStry factory

. The Hellenic Business Association of Serbia, in cooperation with the member company Alumil YU Industry, organized a visit to the factory for aluminium profiles production in Stara Pazova, on June 16th 2022. This business and social event was organized with the aim of member‘s net working, meeting the new Management Board, as well as presenting one of the most successful Greek companies in Serbia.

Mr. Stylianos Tsoktouridis, director of Alumil YU Industry presented the compa ny‘s products, its production capacities, its contribution to environmental protection

hbA ACTIVITIES

Speed Business Meeting April

and some of the most significant construc tion and architectural projects in which Alumil YU Industry has participated. This was followed by the factory tour, during which the HBA members had the opportu nity to see how the processing and produc tion of aluminium profiles are done.

general a SSembly meetIng

The Hellenic Business Association of Serbia held its annual General Assembly meeting on May 10, 2022, at the IN Hotel. At the meeting, the HBA members elected a new Board of Directors - Nikolaos Sliousaregko (the Junior Hotel) is the Board’s new Chairman, Vuk Dapčević (Eu robank Direktna) is the Deputy Chairman, while Vassilis Karanasios (Coral SRB - Of ficial Shell Licensee), Stylianos Tsoktou ridis (Alumil YU Industry)and Georgios Karafergias (Roda Točkovi) are elected Board members. During its mandate, the newly elected board of directors will con tribute to the accomplishment of the As sociation’s main goals relating to its vis ibility by public institutions in Serbia and Greece, active representation of the Greek business community interests in Serbia, and the improvement of cooperation, both among members and with other lo cal and foreign companies. During the evening, the HBA expressed special grati tude to Mr. Zafiris Lampadaridis and Mr. Stilianos Zakof, who as members of the Board of Directors and presidents of the Association have contributed to its devel opment and promotion for many years.

On this occasion, the Hellenic Business Association of Serbia awarded Mr. Lam padaridis and Mr. Zakof, who was also, by the Assembly of Members, proclaimed as honorary member of the Association.

workShop: dIg Ital marketIng at the ServIce of your buSIneSS

The workshop titled “Digital market ing in the service of your business” was successfully organized by the Hellenic Business Association of Serbia, the Bel gian-Serbian Business Association, the Dutch-Serbian Business Association and the Canadian-Serbian Business Associa tion, in cooperation with the company V + O Communication and its representa

tives, director Nada Filipović and Marko Ilić, digital marketing specialist, on April 19, 2022, at the Mercure Belgrade Excel sior Hotel. The workshop focused on the importance and use of the full potential of digital marketing through proven effec tive strategies. On occasion, the workshop participants were informed about the techniques for increasing the company’s visibility on social networks, targeting specific public members and communi cating with specific target groups, as well as the methods of raising brand aware ness. At the workshop, all participants were given a practical task, during which they could practice skills, exchange ideas with other participants and receive feed back from the lecturer.

Speed buSIneSS meetIng

A Speed Business Meeting was held in Belgrade on April 7, 2022, at which mem bers of four bilateral chambers of com merce took part - the Hellenic Business Association (HBA), the German-Serbian Chamber of Commerce (AHK), the ItalianSerbian Chamber of Commerce (CCIS) and the Swiss-Serbian Chamber of Commerce chambers (SSCK). The event brought to gether almost 50 representatives of mem ber companies from various business sectors. During 10 eight-minute meetings, all participants had the opportunity to quickly and efficiently meet potential business partners and expand the net work of business contacts. The meetings were followed by networking cocktail and informal socializing. Those members who didn’t meet during the direct meetings used this opportunity for an additional exchange of contacts.

webInar: meetIng of 12 bIlateral buSIneSS a SSoc IatIonS In SerbIa wIth the natIonal employment ServIce

Over 100 member companies were informed about current employment and financial support programmes forentrepreneurs.. Representatives of the NES informed the participants about all the novelties within the program of ac tive employment policy measures, the amount of financial support to employ

ers, the categories of unemployed people who can be hired, as well as other benefits that can be achieved through cooperation with the NES. The event was jointly organ ized on March 17, 2022, by the French-Ser bian, German-Serbian, Swiss-Serbian and Italian-Serbian chambers of commerce, the Dutch-Serbian and Belgian-Serbian business associations, the Slovenian and Croatian business clubs, the Hellenic Business Association, the Canadian-Ser bian Business Association, as well as the Japanese and Nordic business alliances.

InternatIonal coffee break

On March 7, 2022, within Kopaonik Business Forum, nine bilateral organiza tions in Serbia, gathered representatives of member companies at the traditional event called International Coffee Break, at the Casa Hotel Grand Restaurant. The event was organized by the following bi lateral organizations: the Belgian-Serbian Business Association, Hellenic Business Association of Serbia, Croatian Business Club, Canadian-Serbian Business Associa tion (CANSEE), Italian-Serbian Chamber of Commerce, German-Serbian Chamber of Commerce, Nordic Business Alliance, Slovenian Business Club and Swiss-Serbi an Chamber of Commerce.

award of ScholarShIp S for learnIng the greek language to StudentS of the orthodox faculty of theology

In cooperation with the Hellenic Foun dation for Culture, and with the blessing of His Holiness the Patriarch of the Ser bian Orthodox Church, Mr. Porfirije, the

Donation to the dr Milorad Pavlovic Children's Village in Sremska Kamenica

HBA visit Alumil YU Factory International Networking Cocktail

Hellenic Business Association of Serbia awarded scholarships for learning the Greek language to students of the Ortho dox Theological Faculty of the University of Belgrade. The students will attend a four-month course at the Hellenic Foun dation for Culture, from March to June 2022. This initiative, launched by the Hel lenic Business Association of Serbia, aims at strengthening and improving the cul tural and historical ties between Greece and Serbia. On the occasion, the schol arships were awarded at the ceremony held at the amphitheater of the Orthodox Theological Faculty in Belgrade, on Mon day, February 28, 2022. Bishop Toplički, Mr. Jerotej, the Dean of the Orthodox Theological Faculty, Mr. Zoran Ranković and the Consul of Greece, Mr. Konstanti nos Androulakis, addressed the audience, welcoming this initiative and confirming strong ties between the two nations.

annual receptIon In honour of the cuttIng of va SIlopIta The Hellenic Business Association of Serbia held the traditional reception to mark the Cutting of Vasilopita, a custom upheld in Greece to mark a successful business year for a company. The recep tion gathered a large number of the Asso ciation’s members and friends, while the Serbian Economy Minister, Ms. Andjelka Atanasković, was a special guest at the event. The event was also attended by the Ambassador of Cyprus, H.E. Mr. Dem etrios A. Theophylactou, as well as repre sentatives of the Department of Economic and Trade Relations of the Greek Embassy

in Belgrade, Mr. Vassilis Skronias and Mr. Marios Belibassakis. The event took place on February 22, 2022 at the Hyatt Regency Hotel in Belgrade. At this year’s event the Hellenic Business Association of Serbia awarded company Balkan Cargo and hotel Hyatt Regency Belgrade for their 10th anniversary of membership. The performance of the Greek choir “Elinofo nia” brightened the event and during the evening, the Vice President of the HBA, Mr. Nikolaos Sliousaregko, presented the custom of Vasilopita, which ended with the traditional cutting of Vasilopita pie. This year, the company Color Media Com munications found a lucky gold coin in Vasilopita pie.

webInar: dIalogue wIth the mInIStry of mInIng and energy

As part of the joint initiative of the German-Serbian Chamber of Commerce, the French-Serbian Chamber of Com merce, the Italian-Serbian Chamber of Commerce, the Hellenic Business Asso ciation of Serbia and the Belgian-Serbian Business Association, the Dialogue with the Ministry of Mining and Energy we binar was successfully held in February., The companies had the opportunity to get detailed answers to their questions, as well as to be informed on the current activities and plans in the mining and en ergy sector. The webinar participants also received detailed and specific answers to their questions and were informed about current events and plans from the mining and energy sector.

donatIon to the dr mIlorad pavlovIć chIldren›S vIllage In SremSka kamenIca

In January this year, acting HBA President, Mr. Zakof, vice-president Mr. Sliousaregko and a member of the executive board, Mr. Vuk Dapčević vis ited the Dr. Milorad Pavlović Children’s Village,which is currently the home of almost 100 children and young people without parental care. . On this occasion, the HBA donated more than 800 everyday products for the Village’s residents, worth 200,000 dinars. The members of the HBA Board of Directors handed the donation to the Village’s director, Mirko Jankelić, who, in turn, gave the Association a Certificate of Appreciation for the humanitarian aid. Part of the money from this donation was collected at the traditional members’ Christmas dinner, while the rest of the money was allocated by the Association from its budget.

humanItarIan chrIStma S dInner

In December 2021, the HBA hosted its traditional Christmas dinner at the Piata kia tavern. At this year dinner, the Asso ciation organized a humanitarian lottery in order to raise funds for the purchase of necessary products for the daily life

of children in the Children’s Village “Dr Milorad Pavlović” Sremska Kamenica.The HBA is especially grateful to the compa nies Alfa Foods, Diplomacy&Commerce, Chipita, Extra Coffee, Farmalogist, Hrana Mediterana, the IN Hotel, Hyatt Regency Belgrade, Junior, Metropol Palace, Mer cure Belgrade Excelsior, Mezestoran Dvorište, Ioanna Regen, Kessidis Group, Leto Shop, Mitsides Point, Piatakia, Sterile and Super Vero, which donated more than 60 products and services to the humani tarian lottery, as well as to all the present members, who by purchasing tickets, helped with the realization of this event.

Speed buSIneSS meetIng

In November 2021, a speed business meeting was organized in cooperation with the Croatian Business Club, the French-Serbian and the British-Serbian chambers of commerce at the Metropol Palace Hotel. The meeting was attended by 30 companies from different business sectors, who had the opportunity to ex change business contacts and connect.

meetIngS wIth the greek deputy foreIgn mInISter and general Secretary for InternatIonal economIc relatIonS and cooperatIon

The HBA BoD and members had oppor tunities to meet twice with Greek Deputy Minister of Foreign Affairs Konstantinos Frangogiannis during 2021. The meetings were held at the Greek Embassy in Bel grade during April and November, with the second meeting also attended by this min istry’s Secretary General for International Economic Affairs and Openness, Ioannis Smirlis. These meetings included discus sions of current issues related to economic and trade relations between Greece and Serbia, as well as possibilities to further develop and improve these relations.

meetIng of the unIon of greek buSIneSS a SSoc IatIonS from Southea St european countrIeS

As part of the 6th Summit in Thessa loniki, a meeting of the Union of Greek Business Associations of Southeast Eu ropean Countries was held in November 2021 and was attended by the Secretary General of the Ministry of Foreign Affairs, Yannis Smirlis.

meetIng wIth the SerbIan orthodox church patrIarch mr. porfIrIje

The HBA Board of Directors met with His Holiness the Serbian Orthodox Church Patriarch, Mr. Porfirije, in the Pa triarchate building in Belgrade, in October 2021. The topic of discussions was the beginning of reconstruction works on the Church of the Holy Archangel Gabriel in Zemun, where regular services are held for the Greek Orthodox believers who live in Belgrade.

General assembly meeting

Humanitarian Christmas dinner

Things that should not be missed while in Greece!

There are few nations with such colourful traditions as the Greeks. The popular Šurda fanta sised about “hot wind”, big fruits, cafés by the sea and dancing, but what, apart from this archetypal tradition, is typical of Greece and its culture, and what should not be missed when you go to this country.

ouzo, tSIpouro, ma StIka

It is obligatory that you taste one for the anis-based drinks while eating or simply chilling in one of the numerous beach cafeterias. All three drinks are similar, and are known to be colourless in their original state, but with the addi tion of water, they turn white. It is said that tsipouro is the oldest drink and that it originated from the monks of Holy Mount Athos and that it was developed by the specific addition of anis seed in the 14th century. Only from the 19th century, after the departure of the Turks, who appropriated this drink and spread it throughout the Mediterranean as raki or arrack, did the Greeks approach production more seriously and became world famous. Only with the decline in absinthe‘s popularity at the end of the 19th and beginning of the 20th century, due to its too strong effects, ouzo be came mega-popular. The name „ouzo“ was registered as Greek in 1989, and the drink can only be produced and bear this name in Greece. Tsipuro is a highly distilled drink that contains between 40% and 45% alcohol by volume and is produced from pomace (the rest of the

wine press) or from wine after separat ing the grapes and juice. It comes in two varieties, pure and aniseed, and is usu ally not barrel-aged, although there are barrel-aged versions. Last but not least, mastika, as we know it in Serbia and Bulgaria, is a sweet liqueur produced with the mastika resin from the Greek island of Chios, which is distilled after hardening to crystals. Nevertheless, try all three of them. You won’t regret it. Unless you taste... a bit too much!

greek coffee

There is always a linguistic problem in the Balkans. In Serbia and Republic of Srpska, people tend to drink “home made coffee”, in Montenegro, it is “boiled coffee”. In the Muslim parts of Bosnia, it is Turkish, but it is never so in Greece! Or in Southern Cyprus. Not once we ordered “o kafé kypriakó” or “o kafé ellinikó”, and many tourists won dered what is the difference between all these types of coffee? Well, don’t miss the Greek coffee on your holidays. Greek coffee is usually served with a glass of cold water and sometimes served with sweets (such as cookies). It is tradition ally black, although some young people prefer to order a „double“ Greek coffee and add milk to taste. There are four main styles of Greek coffee: unsweet ened or sketos, somewhat sweet or metrios, sweet or glykos and very sweet. Choose your type. And be patient, like the Greeks in the Kastellorizo, in the film “Mediterraneo”. Patience is the king. It is not espresso.

The Greeks have won the legal battle against their arch-nemesis in the area of cheese production, i.e. Denmark. And the subject was feta cheese. Now, there is no more “Danish feta”, there is only “feta” and it is implicitly Greek. It is a classic cheese from Greece (also famous in Bulgaria, Turkey, Denmark and Ro mania), based on the cheese curd that is cured in brine. This type of cheese is very traditional and was described hundreds of years ago, going back at least to classi cal antiquity. Feta is generally made with sheep‘s milk, although varieties with mare‘s milk can be found. Feta cheese is so popular in Greece that it is even imported from other areas, such as Den mark. In Greece it was traditionally made with sheep‘s milk, or sometimes with a mixture of sheep‘s and goat‘s milk, which gave it a well-defined flavor, and a point of salt derived from submerging the fresh cheese in brine. Currently, cow‘s milk is also used and its flavour is no longer so defined. It is a perfect snack.

orange honey

In Serbia, honey is usually connected to linden, or any other continental tree or a field plant. But, in Greece, there is a deli cacy! Orange honey, the best honey in the world, not only because it tastes splendid. Greek honey made from orange has an extremely favorable effect on the liver, digestive system and heart. Due to its diu retic and detoxifying effect, fruit honey is used to treat urinary tract diseases. It gets a light yellow colour after sugaring.

Tr A dITION

Never forget to taste the local cuisine, since the stubborn Greeks preserved their millennialong tradition intact!

feta cheeSe

When in Rome, do as the Romans do, when in Greece...

The unique alphabet

once it ruled half of the Mediterranean

and then it got constrained to the countries of Greece and Cyprus, with notable minorities in Albania and around the Black Sea. But it was the key step towards defining two major aplhabets in Europe and the world, Latin and Cyrillic, which gave our planet much of its literacy!

Who was not amazed by beautiful Greek letters as a tourist? I bet you have a lot of photos with signs written in Greek. At least I have. But how the national pride of the Greeks, their alphabet, came to be?

The Greek alphabet (Eλληνικό αλφάβητο in modern Greek) consists of twenty-four letters used to write the Greek language. Developed around the 9th century B.C, from the Phoenician consonantal alphabet, the Greeks adopted the first complete alphabet in history, understanding it as the writing that expresses the individual sounds of the language, that is to say that practically each vowel and each consonant corresponds to a different symbol. So, for the first time, the Semitic practice of discarding vowels (“OK, we know them anyway and the people in different regions tend to change them”) was abandoned!

Since the Greek alphabet is the origin of the Latin alphabet and the Cyrillic alphabet, all European writing comes from it and they share the shape of their letters. Regarding the Latin alphabet, 14 of the 24 Greek letters are homoglyphs in their capital forms (11 with a similar value and 3 with a different value: Η, Ρ, Χ); Of the remaining 10, 5 have a Latin

equivalent but a more angular form: Γ, Δ, Λ, Π, Σ and another 5 do not exist in the Latin al phabet: Θ, Ξ, Φ,Ψ,Ω. Its use continues to this day, both as a native modern Greek alphabet and as a way of creating technical names for the sciences, especially logic, mathematics, chemistry, physics, biology, economics, as tronomy, and computer science.

The Greek alphabet was the model for various others: the Etruscan alphabet; the Latin alphabet, together with various other ancient scripts in Italy, adopted from an archaic form of the Greek alphabet brought to Italy by Greek colonists in the late 8th century BC, via Etruscan; the Gothic alpha bet, devised in the 4th century AD to write the Gothic language, based on a combina tion of Greek and Latin uncial models, the Glagolitic alphabet, devised in the 9th cen tury AD for writing Old Church Slavonic; the Cyrillic script, which replaced the Glagolitic alphabet shortly afterwards, the Coptic Al phabet used for writing the Coptic language (still in use). The Armenian and Georgian alphabets are almost certainly modeled on the Greek alphabet, but their graphic forms are quite different.

In the ancient times, not only Egyptian (Coptic) was written with Greek alphabet, but many other: late Phoenician, for in stance. The codification of modern Albanian was also tried in many different alphabets, one of them Greek. Tosk Albanian was often written using the Greek alphabet, starting in about 1500, since the Tosks were preva

C ULTU r E

lently Orthodox. It was only in 1908 that the Monastir conference standardised a Latin orthography for both Tosk and Gheg. Aromanian was also written with Greek let ters, and the Arvanitic language, one of the languages from the Albanian branch, is still written with Greek letters. Turkish spoken by Orthodox Christians (Karamanlides) was often written in Greek script, and called Karamanlidika. Gagauz, a Turkic language of the northeast Balkans spoken by Orthodox Christians, was apparently written in Greek characters in the late 19th century. In 1957, it was standardized on Cyrillic. Surguch, a Turkic language, was spoken by a small group of Orthodox Christians in northern Greece. Urum or Greek Tatar, spoken by Or thodox Christians, used the Greek alphabet. Judaeo-Spanish or Ladino, a Jewish dialect of Spanish, has occasionally been published in Greek characters in Greece.

If you feel a strange attraction for the inscriptions in Greek, don’t worry –everything is quite fine. you should.

But now it is almost all gone. The nation that gave the world many derived scripts, is now almost one and only in its use of the beautiful letters of the antiquity. So, if you aks yourselves “Is something wrong with me if I want to take a picture of street signs, motorway signs of shop names in Greek? Why do I feel this strange attraction and excitement when I see the inscription “OYZO” on a simple bottle? – do not worry!

Everything is OK with you. Perfectly OK. You just feel connection the language of philoso phers and poets, and you are simply in love with the proud and unique, beautiful coun try of the south, that connected the three continents with its culture. The first simple letters for everyone.

Photo: Wikimedia

Photo: Curtis Gregory Perry / Flickr

Photo: Žikica

Milošević

The Summer paradise...

compensated by tourists from other countries.

In the ancient times, it was popular to visit Delphi, to hear the world of the oracle. It was popular to go to the Olympic Games, and when Greece was annexed by the Roman Empire centuries later, the cultural exchange that began between the two civilizations resulted in large num bers of Romans visiting famous centers of Greek philosophy and science, such as Athens, Corinth, and Thebes, in part because Greece became a province of the Roman Empire and the Greeks were granted Roman citizenship.

The entire Western civilization was born in Greece. All that we today consider sacred guiding stars ap peared first in Greece. It’s no wonder that Byron adored Greece, fought for it and praised it. British tourists were the first to discover Greece during the travel craze of the 19th century, and others followed. And when marine tourism became a “must”, Greece went from being an agri cultural country and a land of seafarers to one of the biggest tourist powers. With some of the most beautiful and expensive resorts, such as Mykonos or Santorini.

Greece is known for its unusual rocky landscapes, untouched natural beauty, endless coasts, as well as 6,000 world-fa mous smaller and larger islands of inde scribable beauty. Apart from sun and sea, tourism is the main feature of Greece’s present and past.

Tourism in Greece is a key element of economic activity in the country and is one of the most important sectors in the country. Greece has been a major tourist destination and attraction in Eu rope since ancient times, due to its rich culture and history, which is largely re flected in its 18 UNESCO World Heritage Sites, among the first in Europe and the world. The facts say that Greece attracted as many as 31.3 million visitors in 2019, up from 24 million in 2015, making Greece one of the most visited countries in Europe and the world, and contribut

Greece will never leave you bored. As the pet Shop boys’ song states, “never being boring, never being bored”. It reminds me of Greece when I hear the chorus.

ing to approximately 25% to the nation‘s Gross Domestic Product. And this year could be a record year even though there are no Russian tourists, although we are still waiting for the official results. After twelve years of the financial crisis, al most three years since the declaration of the pandemic and (so far) eight months of war in Ukraine, the people became aware that the life is short and you can take all you can, while you are still there and you have the means to do that. The absence of tourists from Russia, which until 2021 were very important in re gions such as Halkidiki or Crete, is now

Tourism in modern-day Greece began to flourish in the 1960s and 1970s, in what became known as mass tourism. During that time, large-scale projects for the construction of hotels and other facilities were carried out, which has caused an increase in international tour ists in recent years. International events such as the 2004 Olympic Games and the 2006 Eurovision Song Contest, both held in Athens, greatly helped boost tourism in the country, while large cultural infra structures at the national level such as the New Acropolis Museum contributed. Due to the flow of tourists in the country, it is also worth mentioning that Thes saloniki was the European Youth Capital in 2014.

Tourism Minister Vasilis Kikilias expects even more guests than in 2019, which was a record. At that time, a total of 33 million people came to Greece on vacation. Income from foreign guests amounted to 18.2 billion euros. The Greek central bank expects that this year it will amount to 20 billion, Deutsche Welle in forms us. It is interesting that Greece can accept anyone. For instance, according to Lonely Planet, Skiathos and Mykonos are ranking among the most LGBT-friendly destinations in the world. The former has particularly come under the spotlight after filming the “Mamma Mia!” block buster several years ago.

It is interesting that the tourist from the Balkans usually got to the North, to the Macedonian riviera and the Ionian coast, since they travel by car or bus, while the Northern tourists prefer the South of Greece, since their means of transport is – airplane! But whatever the means of transport is, Greece will never leave you bored. As the Pet Shop Boys’ song states, “never being boring, never being bored”. It reminds me of Greece when I hear the chorus. Mark it for 2023, the summer is perhaps, not around the corner, but soon you will start to think about it!

a nd the cradle of culture

TOU r ISm

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Photo: Wikimedia

Top 7 summertime places in Greece

TOU r ISm

The summer has just gone, but the craving for the next one gains ground every day, with the grey clouds over us. Here are 7 ideas for the summer of 2023!

1corfu

The famous place from the Serbian history, Corfu is now connected by WizzAir flight from Belgrade, making it an ideal destination for the younger tourists. It is also well connected by the motorway, and it makes a perfect day trip even if you are in neighbouring Albania. It boasts many attractions from Greek, Venetian and British history, since it be longed to all of these countries. The Ital ian flare cannot be missed walking down the narrow streets of the Corfu Old Town.

2zante

The pearl of the Ionian coast, an island immortalised in the „Captain Corelli Mandolin“, is well known for its magnificent beaches, among which the „Navagio“ („The Shipreck“) beach excels. It was also soaked with Venetian spirit, hence the English name, while the Serbi an tourists use the original Greek name, Zakyntos. It was part of the jokes, even giving the slang word for the „pennyless“ – „Dekyntos“.

3parga

The city of Parga, built amphitheatri cally, stands between the mountainous

coastal region of Preveza and Igoumenit sa. It is known as the “Bride of Epirus”. In the summer, tourists arrive from Paxos, Antipaxos, and Corfu by boat. The Ser bian tourists extensively visit this town and enjoy its beaches, castle and the charming atmosphere of the Old Town.

4monemva SIa Monemvasia is what the people might imagine Byzantine Empire looked like. And they are right. The mountain town at the extreme southern tip of Peloponesus, is what the time machine would look like. The famous wine of Monemvasia was taken by Venetians to their homeland where it changed its pro nunciation to Malvasia, and hence the famous Istrian wine came to be.

5SantorInI

As much as Greece is known for its gods and ancient past, it is also known for its beautiful islands. If we were to sin gle out some of them, Santorini would be one of the most beautiful. Santorini is best described by white facades, blue roofs and dark volcanic rocks with the enchanting blue of the Aegean Sea. San torini is even more fascinating if you know something more about the island itself - its origin, history, legends. The is land is conveniently connected by a Wiz zAir flight from Belgrade, which made it increasingly popular with the “regular”, i.e. price-sensitive tourists!

6SyroS

And now, for something new. A Cath olic Greece? Yes. Near Mykonos, there is a surprise. Syros is a small island of Greece located in the Cyclades archipelago, in the waters of the Aegean Sea, and in it is Hermoupolis, the capital of the periphery of South Aegean and the ancient pre fecture of the Cyclades, built on the site where, in ancient times, there was a city with the same name of Syros. In medi eval times, the island, like the rest of the Cyclades, was occupied by the Republic of Venice, and most of the inhabitants converted to the Catholic religion. The population of Syros today retains a sizea ble percentage of Catholics relative to the rest of Greece. And the Syros Old Town is quite amazing!

7SartI

Something closer for the end – Sarti lies on the Longos (Sithonia) peninsula. The name comes from the nearby An cient Greek settlement of Sarta but the current village was settled after 1923 by Greek refugees from the island of Afissia after the Greco-Turkish War and popula tion exchange. Today, Sarti is a popular tourist destination, especially during the summer when many tourists visit the area‘s beaches. It is also one of the most commonly used locations for ascending Mount Itamos. Mount Athos is visible from the town‘s beaches, as well as from the hills overlooking Sarti.

There is no way you can make a mistake in Greece if you choose this country for holidays!

start thinking about the s ummer of 2023!

Photo: Sarti Ddofekl

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