On October 14, the Chamber of Commerce and Industry of Serbia (CCIS) and the U.S. Department of Commerce, supported by the Serbian Embassy in Washington and the U.S. Embassy in Serbia, jointly organized the first ever “U.S.-Serbia Virtual Roadshow”, highlighting opportunities in information and communication technology (ICT) and innovation.

Nearly 100 American companies, business associations, and state institutions participated in the event, including representatives of Microsoft Serbia, the Government of the Republic of Serbia, the U.S. Department of Commerce, the Commercial Service section of the U.S. Embassy in Serbia, and the Development Agency of Serbia registered for the event.

Serbia is an IT hub of the Western Balkans region and a leader in software development, artificial intelligence, and smart IT solutions for sectors from finance and energy to health and education.

The positive experiences in Serbia of American companies such as Microsoft and NCR can help raise awareness of opportunities for new American investors to consider the Serbian IT sector.

This Virtual Roadshow highlighted these investment and commercial opportunities in Serbia and the Western Balkans. Trade in services between Serbia and the United States is growing.

Serbia’s rapidly developing IT sector, which employs more than 50,000 people, combined with its excellent infrastructure and geographic position in the heart of southeastern Europe, provides ideal conditions for additional investment in IT and logistics hubs for American and other European and global companies, according to Serbian and American business leaders who spoke at the event on October 14.

Serbia’s focus on digital transformation, and the innovation and development of creative industries can serve as a springboard to strengthen cooperation with U.S. companies, according to panelists at the event.

The United States is Serbia’s 20th largest trade partner, with total trade exchanges in the first eight months of 2021 totalling $590 million.

Excitement is high over Serbia’s potential as an investment hub, as evidenced by the number of American high-tech companies that participated in the Virtual Roadshow, said Nenad Đurđević, Advisor to the President of the Chamber of Commerce and Industry of Serbia.

“They understand the potential of Serbia as a new European hub where investors from all around the world do not only open their factories, but they move their development centers there,” he added.

Today’s Virtual Roadshow laid the foundations for additional a multitude of opportunities to showcase Serbia’s talent, know-how, and innovation in the ICT sector, thus opening new doors for U.S. companies to enter the Serbian market, said Serbia’s Ambassador to the United States Marko Đurić.

“The fact that American companies are exponentially recognizing the potential of the Serbian ICT industry with a continuously growing interest in bilateral cooperation speaks volumes about Serbia’s role as a regional leader of economic growth. I am looking forward to continuing the successful cooperation with the U.S. Department of Commerce and the Chamber of Commerce and Industry of Serbia on intensifying our economic diplomacy activities, especially this year when we are celebrating 140 years of Serbia-USA diplomatic relations.”, highlighted Đurić.

“The U.S.-Serbia relationship is stronger than it has been in many years and is steadily improving. I am especially proud of our cooperation in the IT sector. Serbia leads the Western Balkans region in the digital transformation of its economy. Serbia’s investments in higher education have fostered a young, motivated, highly educated workforce forming the backbone of Serbia’s transformation into a digital technology hub,” said U.S. Ambassador to Serbia Anthony F. Godfrey.

“The U.S.-Serbia commercial relationship is diversified, growing, and benefits both the Western Balkans and the wider Europe region. Serbia’s technology sector is dynamic and growing. American technological expertise is well positioned to help Serbia build its digital ecosystem,” added the U.S. Department of Commerce’s Deputy Assistant Secretary for Europe and Eurasia, David De Falco.