Cyprus Serbia Business Association

The Cyprus-Serbia Business Association was established in 2006 under the auspices of the Cyprus Chamber of Commerce and Industry. Registers approximately 45 members who maintain close trade relations with Serbia It is in strong collaboration with the public and private sector and functions in order to promote and strengthen trade between Cyprus and Serbia. It also supports the businesses that might benefit from a stronger and more organised economic collaboration between the two markets.

The Association is supported in its efforts to promote trade between the two countries by the Embassy of Serbia in Cyprus, the Ministry of Commerce, Industry & Tourism of Cyprus, and other governmental and private institutions in Cyprus.

Members to the Association can be individuals and/or legal entities of Cypriot or Serbian origin that have notable and distinguished contribution to the Business community.

The role and activities of the Association can be divided in two distinct levels of operation:


(A) On a National/International level:

  1. To establish an interaction on an economic as well as social level between Cypriot and Serbian business people and professionals.
  2. To further enhance and reinforce commercial and economic relationships between Cyprus and the Republic of Serbia.
  3. To offer members access to the Cyprus and Serbian Chambers of Commerce and Industry and their exhaustive network and database of business contacts in order to allow them to interact, trade and form strong bonds, and consolidate their activities between themselves and their counterparts abroad.


(B) On an Individual level:

  1. To inform Cypriot and Serbian business people of the availability of resources that will help them locate products, services business partners, and to be advised as to how best to introduce and promote their companies in the markets of both countries and the wider market of the SEE and European Union.
  2. To encourage “networking” for the promotion and stimulation of business relations and investments in the two countries (i.e. through Business Forums, Trade Missions, Exhibitions, Trade Fairs etc.)
  3. To present members’ views to the government and other related bodies and authorities.


Means to achieve the above goals:

  1. This will be primarily achieved through the registration of a large number of local members to the Association. The major incentive for a business or a professional body to become a member should be the guarantee that his line of business will be promoted directly through the Association and its activities. In addition, members will benefit from direct and practical access to potential business opportunities.
  2. In co-operation with the Cyprus Chamber of Commerce and Industry, the Association provides for its members a further database of contacts that are likely to be useful to them.
  3. Communication between our members and Serbian business people seeking to do business in Cyprus and at the same time provides access to an extensive network of business contacts.

Cyprus Serbia Business Relations:

Cyprus presents increased exports to Serbia in 2008 compared to 2007 by around 1.5 million euros, while imports from Serbia severe reduction of 4.5 million. This creates a surplus balance in favor of Cyprus in 2008 of around 6.1 million.

In the business sector, according to data from our Embassy in Belgrade, it is estimated that some 25 active companies, 18 of which are mainly of Cypriot interests, while remaining a holding and Serbian interests. which is certainly the case that their presence outside the show and to promote Cyprus and Cypriot products and assist in strengthening commercial, economic and political relations between the two countries.


Agreement on Mutual Promotion and Protection of Investment

In 2005 it was signed and put in effect immediately, an Agreement on the Mutual Promotion and Protection of Investment, we strongly believe that this agreement is a key reason that many companies have moved to Cyprus with direct investments in Serbia and we expect that as a result of the initiatives we undertake as CCCI to organize Conferences Business investment between the two countries will grow with time. CCCI noted that a similar event held in Serbia in 2007.

Speed of response of local authorities

A small number of our complaints has been reported by companies operating in Serbia in relation to the speed of response of local authorities, to provide basic services (electricity, telecommunications, water, etc.) at the establishment or expansion of their activities. This issue could be raised to call for simplification of procedures and demonstrate greater flexibility on the part of the to facilitate investment by companies in Serbia Cypriot interests.

Agreement on Avoidance of Double Taxation

Is in effect the above agreement. On the issue presented a detailed explanation from the Ministry of Finance.

It would be good to know that in April 2007 the CCCI with the Cyprus-Serbian Business Association organized a seminar in Belgrade to promote Cyprus as an International Business Center. Also other activities CCCI on strengthening the relations of Cyprus and Serbia was the Serbian hospitality extended business mission and a lecture by the Ambassador of Serbia in Cyprus SA Mr. Mirko Jelic.

I hope that this information will be useful as CCCI, we are at your disposal for any further clarifications and assistance you need.