A business forum aimed at enhancing economic ties between Serbia and Hungary was convened in Belgrade, attracting approximately 200 representatives from both nations. This event, held at the Palace of Serbia, included 117 companies from the two countries, all focusing on boosting trade, investment, and cooperation across various sectors.
The forum coincided with the 15th session of the Joint Commission for Economic Cooperation between Serbia and Hungary. Serbian Minister of Economy Adrijana Mesarović and Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó co-chaired the preceding commission meeting, underscoring the robust political framework that supports these bilateral economic relations.
Economic collaboration has seen significant growth over the past decade. Data shared by the Serbian Chamber of Commerce indicated that bilateral trade is projected to reach approximately €3.4 billion by 2025, positioning Hungary among Serbia’s top five trading partners. In 2023, Serbia exported goods worth around €1.5 billion to Hungary, marking a year-on-year increase of 7.5%. Conversely, imports from Hungary totaled about €1.9 billion, reflecting a 13.6% rise compared to the previous year. Consequently, Serbia recorded a trade deficit of approximately €371 million, with exports covering 80.5% of imports.
Engagement in trade is extensive, with nearly 4,000 Serbian companies actively participating in commerce with Hungary.
Investment dynamics were another focal point at the forum. Hungarian enterprises have invested roughly €1.5 billion in Serbia, establishing substantial operations across various sectors including energy, banking, manufacturing, and services. According to the Serbian Business Registers Agency, there are about 660 active companies in Serbia that are majority-owned by Hungarian investors or entities registered in Hungary.
Infrastructure projects are anticipated to further enhance trade relations between the two nations. A key initiative is the Belgrade–Budapest high-speed railway, designed to significantly reduce travel time between the capitals and improve logistics connectivity throughout Central Europe and the Western Balkans. Additionally, efforts are underway to modernize the Horgoš border crossing and upgrade cross-border transport infrastructure to expedite the movement of goods and passengers.
Discussions at the forum also emphasized energy cooperation, with numerous participants representing both the energy sector and renewable energy industries, indicating a growing interest in joint ventures and supply chain integration.
Officials also pointed out potential areas for collaboration beyond traditional sectors, including high-technology industries and digital technologies. Support for small and medium-sized enterprises through financing programs and equipment procurement initiatives was highlighted as a priority for both Serbian and Hungarian institutions.
During a broader session of the joint economic commission, four cooperation agreements were signed. These included documents related to nuclear research collaboration, chamber cooperation programs, and Hungary’s support for Serbia’s EU accession negotiations.
The Serbia–Hungary business forum illustrates the strengthening economic relationship between these two nations. With significant infrastructure investments ongoing and strong political support from both governments, there is a concerted effort to deepen industrial, technological, and energy partnerships that could further integrate their economies into the broader European market.
