April 2024, Issue No. 234

H.E. Jozsef Zoltan Magyar Ambassador of Hungary to Serbia SECURITY, ENLARGEMENT, RESPONDING TO DEMOGRAPHIC...

Irina Subotić art historian CULTURE HAS FAILED THE TEST

Restoring Our Traditional Partnership

Jakov Milatović President of Montenegro

Danilo Krivokapić Director, SHARE Foundation

Novi prostor za rad na samo korak od Vas.

Naša misija je da Vam pomognemo da pronađete najbolji mogući način za rad. To je način pomoću kojeg se smanjuje vreme u saobraćaju do posla

i emisija izduvnih gasova, a Vi ostajete fokusirani i produktivni.

Zato smo izgradili najveću svetsku mrežu radnih prostora. Zato što želimo da uživate u svakom svom danu na poslu.

Kancelarije

Coworking

Virtuelna kancelarija

Sale za sastanke

Članstvo

Contents

07 DIPLOMATIC TWINE ZORAN PANOVIĆ

08 RESTORING OUR TRADITIONAL PARTNERSHIP JAKOV MILATOVIĆ President of Montenegro

12 SECURITY, ENLARGEMENT, RESPONDING TO DEMOGRAPHIC CHALLENGES...

H.E. JOZSEF

ZOLTAN MAGYAR Ambassador of Hungary to Serbia

CorD_Magazine cordmagazine thecordmagazine cordmagazine cordmagazine

EDITOR IN CHIEF:

Neda Lukić n.lukic@aim.rs

DESIGN:

Slađan Radosavljević Zoran Perović design@aim.rs

COPY EDITOR: Mark Pullen

TRANSLATION & EDITING:

Pullen Editorial, Halifax

18 FREE ACCESS TO THE WESTERN BALKAN LABOUR MARKET LITTLE GUYS SUPPORT EACH OTHER

24 THE SECRET OF SERBIA’S SUCCESS IVAN NIKOLIĆ editor of monthly publication MAT (Macroeconomic Analyses and Trends), Institute of Social Sciences

51 BUSINESS DIALOGUE

72 SALESFORCE’S VISIONARY LEADER REVOLUTIONIZES CRM

MARC BENIOFF CEO of Salesforce

83 HUMANS MUST ACTIVELY SHAPE THEIR FUTURE SMILJANA ANTONIJEVIĆ UBOIS

Ph.D., Illinois Institute of Technology, Chicago

84 A MASTER OF SURREALISM AND EXPRESSIONISM IN SERBIAN ART MILOŠ ŠOBAJIĆ painter and sculptor

90 CULTURE HAS FAILED THE TEST IRINA SUBOTIĆ art historian

96 CHILL OUT

98 SHOPPING

100 CULTURE CALENDAR

102 FACES & PLACES

“CorD - 20 Years of Independent Thought and Inspiration”

CONTRIBUTORS:

Ljubica Gojgić

Zoran Panović

Radmila Stanković

Maja Vukadinović

Mirjana Jovanović

Miša Brkić, Rob Dugdale

Steve MacKenzie

Zorica Todorović Mirković

Sonja Ćirić, Miloš Belčević

PHOTOS:

Zoran Petrović

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OFFICE MANAGER: Svetlana Petrović s.petrovic@aim.rs

FINANCE: Dragana Skrobonja finance@aim.rs

EXECUTIVE DIRECTOR: Maja Vidaković m.vidakovic@aim.rs

CEO: Ana Novčić a.novcic@cordmagazine.com

PUBLISHER: Ivan Novčić i.novcic@aim.rs

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Diplomatic Twine

By Zoran Panović

German politician Markus Söder promised to support Serbia on its EU journey. According to the German media, Söder is making “diplomatic twine” in his belief that a Putinised Serbia is an “urgent necessity for Europe”, as the Western Balkans’ strongest country

Fate determined that this 24th March marked both the commemorating of a quarter of a century since NATO aggression against Serbia and Russia’s official day of mourning for the victims of the recent terrorist attack to hit Moscow. This contributed to strengthening the emotional charge of Serbian-Russian ties. Friendly football matches were also played between the two countries’ national teams in Moscow and between FC Red Star and FC Zenit Saint Petersburg in Belgrade. Adoration for the Russian president was evident in Serbia even before the Progressives came to power. FC Zenit was at Red Star’s stadium back in March 2011, during the presidency of Boris Tadić. And Putin was also at the stadium, then as Russian prime minister, and received a standing ovation.

Aleksandar Vulin, a former director of Serbia’s Security Intelligence Agency (BIA) and a longstanding and symbolically important comrade of Vučić, told Russia’s National Defence

Magazine that NATO’s greatest interest in Serbia is in overthrowing President Vučić. Almost at the same time as Vulin was making his media appearance, U.S. Ambassador to Serbia Christopher Hill told RTS that Serbia is currently much closer to NATO than Kosovo. And he made that statement on the eve of the anniversary of NATO’s bombing campaign. These two statements are obviously contradictory, because it turns out that Vučić is collaborating with those whose primary goal is to oust him. If one were to conclude that Vulin was replaced as BIA head due to U.S. political pressure, that doesn’t mean that he, as the personification of Putinism in the “Serbian world”, is currently less valua-

It turns out that Trumpism is the most effective way to fix anti-American sentiment among Serbia’s Putin loving voters, who represent a majority in the country

ble to Vučić’s government. Nor does it mean that Serbia doesn’t cooperate intensively with NATO. This is confusing for some, while for others it merely illustrates Vučić’s diplomatic skills and the continuation of his risky geopolitical game. Or maybe it’s not so risky if some tacit American-Russian consensus to tolerate Serbia’s unique position exists.

Minister-President of Bavaria and Christian Social Union leader Markus Söder promised to support Serbia on its EU accession journey. According to the German media, Söder is making “diplomatic twine” in his belief that a Putinised Serbia is an “urgent necessity for Europe”, as the Western Balkans’ strongest country. Cynics could imagine that the opposition list for the repeated Belgrade elections includes the name of MEP Andreas Schieder of Austria’s Social Democratic Party (as maliciously recommended to the opposition by PM Ana Brnabić after Schieder said that he witnessed election irregularities as an observer), while the other list carries the name of Markus Söder, who also received billboards with welcome greetings from Vučić.

Serbia is giving the Army General Staff building that suffered bomb damage during the NATO aggression to American investors close to Trump. The opposition is using this fact to criticise the government from a position of patriotism. It turns out that Trumpism is the most effective way to fix anti-American sentiment among Serbia’s Putin loving voters, who represent a majority in the country. It seems somewhat surreal today that this building of famous Serbian architect Nikola Dobrović bears the symbolism of the biggest battle of Tito’s Partisans against the fascists and Nazis: the 1943 Battle of Sutjeska (in today’s Bosnia and Herzegovina) – a battle in which Serbs and Croats fought alongside one another, which is even more surreal to consider today.

Restoring Our Traditional Partnership

I consider that we achieved a turnaround in economic and political relations between Montenegro and Serbia in the first year of my mandate, but also that Montenegro placed an additional focus on improving its good neighbourly relations with the other countries of the region ~ Jakov Milatović

Jakov Milatović President of Montenegro

By Ljubica Gojgić

The resetting of relations with Serbia, which President Milatović announced at the start of his mandate in Montenegro, received tangible parameters over the previous year. Speaking in this interview for CorD Magazine, he reminds us that – as a direct consequence of his initiative to transform bilateral relations – direct payment transactions have been established and discussions on infrastructure cooperation have been intensified, with a focus on completion of the highway and the renewal of the Belgrade-Bar railway. Mutual ambassadors also returned to Podgorica and Belgrade, thereby resolving a long-standing misunder-

standing that also existed at that level, confirms the Montenegrin President.

When you took on the role of Montenegrin president a year ago, you decided that your first official visit would be to Serbia. How would you characterise relations between Podgorica and Belgrade today?

— My first official presidential visit, after visiting Brussels and EU institutions, was to Belgrade and had the aim of clearly sending a message about the normalisation of relations, including the restoring of diplomatic relations at the ambassadorial level.

I would remind your readers that, apart from the historically and traditionally close ties between Montenegro and Serbia, good neighbourly relations are particularly important from the perspective of European integration, given that the European Union itself emerged on foundations of regional economic cooperation.

Serbia is among our most important economic partners, so it’s noteworthy in that context that direct payment transactions between our countries were established soon after my visit. We thereby overcame one of the obstacles hindering the development of economic relations and created a tangible positive shift for businesspeople.

Similarly, our discussions focused on infrastructure cooperation – on the completion of the highway and the revitalisation of the Belgrade-Bar railway, as well as the connecting of our countries in the energy field. In this sense, it is encouraging that our government has announced that, in partnership with European institutions, we will soon see the launch of construction of the second section of the Bar-Boljara highway, which will further improve Montenegro’s connections with Serbia, the region and the European Union.

Furthermore, I received the letter of accreditation of the newly appointed ambassador of Serbia in early February, while we’ve also initiated the process of appointing our ambassador in Belgrade. I’m certain that both appointments will contribute to strengthening bilateral relations between our countries.

Given all of the aforementioned, I consider that we achieved a turnaround in economic and political relations between Montenegro and Serbia in the first year of my mandate, but also that Montenegro placed an additional focus on improving its good neighbourly relations with the other countries of the region.

Despite supporting regional interconnectivity, Montenegro doesn’t participate intensively in all regional initiatives, such as the Open Balkan initiative. What do you consider as being the most useful measure when it comes to connecting the Western Balkan countries?

— Montenegro is a leader in European integration and I often emphasise that I advocate for the regatta principle, i.e., for integration on the basis of the individual merits of each country and the meeting of membership criteria. This sends a clear message that it pays off to be committed to reforms.

I will repeat that the European Union story emerged out of regional economic interconnection, which is why it isn’t an alternative to the EU, but rather a kind of preparation for the

countries of the region to join the free European single market.

Supporting this claim, I recently signed decrees on the adoption of laws that confirm the so-called Berlin Agreements and represent part of the obligations emerging from the Berlin Process, and passing them will contribute to accelerating our country’s European journey, but also to improving regional cooperation.

Furthermore, Montenegrin citizens will be able to realise numerous benefits resulting from the implementation of these agreements.

You won Montenegro’s presidential election on a pro-European agenda. How do you view the pace of Montenegro’s European integration? — I am certain that it’s possible to conclude all negotiation chapters by year’s end 2026 and to use 2027 for EU member states to ratify our acces-

Montenegro is a leader in European integration and I often emphasise that I advocate for the regatta principle, i.e., for integration on the basis of the individual merits of each country and the meeting of membership criteria

sion, thus fulfilling our primary foreign policy objective of gaining full EU membership by 2028.

This view is today shared by the majority of our strategic partners. Representing a prerequisite for such a European integration dynamic is the implementing of reforms in key areas, first and foremost in the area of the judiciary, electoral system, economy, public administration and ecology.

I would remind you of the significant political transformation that occurred in Montenegro less than four years ago with the first democratic transition of power in the history of our country, and the process of democratising our society continued with the outcome of the spring 2023 presidential elections.

After demonstrating our democratic maturity in elections, a significant advance was achieved in terms of strengthening the rule of law and the independence of institutions by appointing new people to leading positions in the judiciary and the Central Bank, with broad political consensus in the Parliament.

EU accession is supported by more than 80 per cent of Montenegro’s citizens and we finally have the strong political will required to conclude the ten-year accession negotiation process. On the other hand, during my own intensive diplomatic activity since taking on the presidency, it has become evident that an equally strong will also exists in Brussels.

Also testifying to this claim are the facts that we are among the most economically advanced EU candidate countries, that we have been using the euro for more than two decades, that our foreign and security policy has been fully aligned with the EU for more than a decade, that we are a country that has no significant unresolved issues with our neighbours and promotes good neighbourly relations, and that we are a country that has opened all negotiation chapters with the EU and is a NATO member.

I believe that Montenegro’s EU accession would send a clear message

CONNECTION

Our plan is to complete the highway through the north of the country that will connect us with Serbia and the markets of the region and Central Europe

EU MEMBERSHIP

Our primary foreign policy objective of gaining full EU membership by 2028

REGIONAL COOPERATION

The aim of regional cooperation is subsequent better integration with European markets, and the Growth Plan is important precisely in order to speed up those processes

that reforms pay off and that the enlargement process is still alive.

Will Montenegro or Ukraine become an EU member first? Do you agree with the view that the opening of the EU eastwards also represents good news for the Western Balkans?

— As I’ve said, Montenegro has a clear foreign policy objective: full membership in the EU by 2028. On the other hand, a complete Europe is a guarantee of the security, stability and competitiveness of the continent, which is why every advance of the candidate countries pleases us.

We provide Ukraine with continuous support and assistance and, among other things, have received – compared to the size of our population – the most Ukrainian citizens among those who were forced to flee their country because of the war.

The eastward opening of the EU is, of course, good news for Montenegro and the entire Western Balkans, while it also represents a significant step towards ensuring the prosperity, peace and stability of Europe as a whole.

Where do you see Montenegro’s place in the EU’s Growth Plan for the Western Balkans and what are your key assets?

— We were able to hear projections at the EU-Western Balkans Summit, held late last year, that a common regional market for the Western Balkans could increase the GDP of our countries by ten per cent. As someone who spent many years working at international financial institutions and observed the EU integration of Balkan member states, I really believe in such an outcome.

The aim of regional cooperation is subsequent better integration with European markets, and the Growth Plan is important precisely in order to speed up those processes. That’s why this Plan is hugely significant for realising the economic potential of our region.

What we want from the Plan is for it to help us accelerate our socioeconomic convergence with the EU. We believe that we will succeed in this through the diversification of our economy and an ambitious plan for

EU accession is supported by more than 80 per cent of Montenegro’s citizens and we finally have the strong political will required to conclude the ten-year accession negotiation process

the development of our transport and energy infrastructure

Our plan is to complete the highway through the north of the country that will connect us with Serbia and the markets of the region and Central Europe. We also want to build the Adriatic-Ionian highway, which will represent our bridge to Western Europe and will additionally connect us with our neighbours in Croatia, Bosnia & Herzegovina and Albania.

Moreover, we have already received significant funding to improve railway infrastructure in order for us to finally realise the massive potential of the Port of Bar and restore its strategic importance, and we expect additional funds to complete this project through the Growth Plan.

When it comes to energy, we expect the doubling of the submarine power cable connections between Montenegro and Italy, and for our country to become the energy hub of the Western Balkans. I’ve discussed this topic with our Italian partners, but also with European financial institutions, such as the EBRD and the EIB, which we expect to provide us with even greater support.

Following the initiative to replace the Speaker of the Montenegrin Assembly and your exit from the Europe Now Movement, predictions of possible early elections could be heard in Podgorica. How much basis is there for such speculation?

Our society has finally reached a national consensus over the accelerated European integration process, and thus the political leadership has an even greater responsibility to deliver planned results and remain consistent with a different political culture.

Security, Enlargement, Responding to Demographic Challenges...

H.E. Jozsef Zoltan Magyar Ambassador of Hungary to Serbia

By Ljubica Gojgić

There’s no doubt that the idyllic world of peaceful EU development and its coordinated strengthening with the inflow of new members is unfortunately a thing of the past. Europe has never previously experienced a period with so many difficult challenges. The loss of rhythm in the post-Covid economic recovery, significantly strengthened global competition and wars raging in the neighbourhood all require increased efforts from EU leaders and member states, both when it comes to internal European issues and at the external level, when it comes to international issues ~

Jozsef Zoltan Magyar

The struggle for the common interest of a strong Europe, “able to restore the European economy and EU competitiveness at the global level”, will be the priority of the Hungarian presidency of the European Union that gets underway in July. As a country that supports Serbia’s European integration strongly, the six-month period of the Hungarian presidency will see it advocate for the issue of Western Balkan enlargement to remain high on the EU’s agenda. When it comes to recognising Serbia’s progress on reforms, the best measure would be the opening of a new cluster. This requires a unanimous stance among member states, so lobbying in support of enlargement will be a serious task for us, but also for future presidencies,” says Ambassador Jozsef Zoltan Magyar in this CorD Magazine interview.

Your Excellency, what will be the priorities of Hungary’s EU presidency, which begins in July?

— Hungary’s presidency of the Council of the European Union in the second half of 2024 is viewed through two frameworks. Hungary will assume the role of the presiding country, within the trio of Spain, Belgium and Hungary, for a second time. According to the defined programme of June 2023, the goals of cooperation in our trio are based on four pillars: economy and competitiveness; freedom and security of EU citizens; a greener and more just Europe; and interests and values in EU foreign policy.

The second framework will be marked by the narrower six-month period of

the Hungarian presidency, the priorities of which will be specified upon the conclusion of the Belgian presidency in June. The priority focuses of the Hungarian presidency will be strengthening competitiveness, enlargement, the future of the EU’s defence and cohesion policies and addressing demographic challenges and

illegal migration. We all agree that we have an interest in a strong Europe; in a community with strong nations as member states, a community that will be able to restore the European economy and Europe’s competitiveness at the global level; a community that doesn’t want to use unilateral solutions to deal with the green transition of Europe and the wellbeing of its citizens, and which formulates the interests of our common future on the basis of its own values; a community that will be interested in eliminating the “stains” on the Balkan Peninsula and integrating the economies of these countries into the common market, removing today’s internal borders for citizens and hauliers. At the same time, we will strengthen Europe’s new external borders and protect them from the challenge of illegal migration. We want a Europe that addresses demographic challenges seriously and offers a solution to the problem of Europe’s shrinking population. One warning sign of this is the fact that the population of Europe today accounts for 6% of the world’s population, while the latest forecasts are that it will fall to just 4% over the next 50 years.

Your presidency comes at a very challenging time for the EU, immediately after elections for the European Parliament and at a time when

Economic cooperation is also very important, considering that we achieved a mutual trade turnover of 5.8 billion euros in 2022 and 4.8 billion euros in 2023, despite the drop in energy prices

a new European Commission will be constituted. To what extent will these events influence the plans of your presidency?

— There’s no doubt that the idyllic world of peaceful EU development and its coordinated strengthening with the inflow of new members is unfortunately a thing of the past. Europe has never previously experienced a period with so many difficult challenges. The loss of rhythm in the post-Covid economic recovery, significantly strengthened global competition and wars raging in the neighbourhood all require increased efforts from EU leaders and member states, both when it comes to internal European issues and at the external level, when it comes to international issues. Although the continuation of the joint 18-month programme of the

trio forms a single framework, it will be divided by the timeline, because after June’s elections for the European Parliament, the selection process will begin for the leadership of EU institutions and will be completed by autumn, during the mandate of the Hungarian presidency. Our presidency can thus be considered unusual. Our clear goal and task is to smoothly manage the transition to the EU’s next legislative cycle, considering that 150 chapters have been opened. Given that the

new EU cycle begins under the Hungarian presidency, building a constructive relationship with the new leaders of institutions will also be an important goal. In the meantime, of course, our main goal is to complement the calendar of our presidency with the holding of formal and informal ministerial and expert meetings, with around 170 events. However, the most important question for the Balkan region is perhaps how we will be able to give new impetus to the enlargement process in this transition.

It has already been stated that Hungary supports Serbia’s EU accession. How can that support be expressed during Hungary’s presidency?

— In such challenging times, Hungary believes even more strongly that the EU cannot be complete without the accession of the Western Balkans, which would equally benefit the Union from an economic, security and geopolitical perspective. Serbia is our immediate neighbour and has the strongest non-EU economy in the region and a market of seven million people. What’s more, your country is home to the best organised community of Hungarians, numbering a quarter of a million people, which is a reliable coalition partner to the Government of Serbia. With the borders that separate us, we obviously have more shortcomings than advantages. As such, with a view to the Hungarian-Serbian strategic partnership and the welfare of the Hungarian and Serbian minori-

Serbia is our immediate neighbour and has the strongest non-EU economy in the region and a market of seven million people. What’s more, your country is home to the best organised community of Hungarians, numbering a quarter of a million people, which is a reliable coalition partner to the Government of Serbia

ties residing in the two countries, we want to provide momentum to the accession process during the Hungarian presidency. When it comes to recognising Serbia’s progress on reforms, the best measure would be the opening of a new cluster. This requires a unanimous stance among member states, so lobbying in support of enlargement will be a serious task for us, but also for future presidencies. It would be very important for the European Commission to adopt a positive assessment in the autumn that acknowledges the gradual fulfilling of conditions for Serbia’s accession.

Hungary would also like to contribute to the establishing of an EU-Western Balkans summit during its presidency. It would also be good to hold a successful intergovernmental conference with Serbia and other countries of the Western Balkans, at which we could provide a solid framework for the dynamics of accession negotiations. It is also important for the Growth Plan for the Western Balkans to be adopted during the current institutional cycle, which would enable the shaping of plans to begin during the Hungarian presidency.

Following the adoption of the European Parliament Resolution on Serbia, with reference to the post-election crisis and allegations of election irregularities, we heard assessments that Serbia’s image in the EU had been damaged and that this will hinder further progress in the EU integration process. How are such assessments viewed in Hungary?

— I’ve been the Hungarian ambassador in Belgrade for a year and it doesn’t seem to me that there’s a crisis related to elections in Serbia. State institutions functioned prior to 17th December and continue to function. This is all illustrated well by the fact that, since the end of October, the Serbian police have blocked the migration route through the Hungarian-Serbian border on the territory of Vojvodina and have taken effective measures against human

EU PRESIDENCY

The goals of cooperation in our trio are based on four pillars: economy and competitiveness; freedom and security of EU citizens; a greener and more just Europe; and interests and values in EU foreign policy

traffickers both in the intervening period and after the elections. Both the Serbian President and Prime Minister cooperate fully regarding recommendations related to the electoral standards of European institutions and organisations, and addressing observed objections to the electoral system is also underway. If no actual case exists, then there mustn’t be a reason for Serbia’s image or international perception to negatively impact its EU accession process. The greatest importance is ascribed to compliance and harmonisation with standards, benchmarks formulated in the chapters, as well as the annual progress report, all of which are important parts of the accession negotiation process.

It was almost a year ago that the first session of the Strategic Council for Cooperation Between Hungary and Serbia was held. Are there any plans for the next session or new activities on this front?

— Hungary and Serbia are seriously approaching the continuation of their strategic cooperation. When the Council for Strategic Cooperation was established last June, we signed 11 agreements and formed 12 working groups that are chaired by ministers. This year’s second meeting will be organised by Hungary. As soon as the new Serbian government is formed in Belgrade, we will launch preparations and evaluate the extent to which signed agreements have been fulfilled. In the more than half a year that has passed since the first session, many results have been achieved and will serve us in continuing to build our relationship. Among the results achieved, it is noteworthy that our gas supply was secured in continuity through cooperation between our two countries. Via Serbia,

WARNING

One warning sign is the fact that the population of Europe today accounts for 6% of the world’s population, while the latest forecasts are that it will fall to just 4% over the next 50 years

EU ACCESSION

With a view to the Hungarian-Serbian strategic partnership, we want to provide momentum to the accession process during the Hungarian presidency

some 10 million cubic metres of natural gas arrives in Hungary and heads further north on a daily basis. Hungary is prepared to store Serbia’s strategic supplies until more natural gas is delivered to Serbia via the new Bulgarian-Serbian interconnector or until it expands its gas storage facilities. We will soon conclude our agreement on the construction of a new transmission line between the two countries, while we have also decided to jointly coordinate the Hungarian-Serbian-Slovenian market in the supply of electricity through a joint regional electricity exchange from 2024. With the aim of diversifying petroleum sources, the oil companies of our two countries are negotiating the construction of an oil pipeline between us. Since November, after a break of nine years, Szeged and Subotica are once again connected by rail. The border police have also extended working hours at two of the nine existing border crossings, which remain open after 7pm. We have

started planning new Hungarian and Serbian expressways and associated border border points, with which new crossings will be built or expanded and renovated at Hercegszántó-Bački Breg, Tompa-Kelebija and Röszke-Horgoš. We have also launched negotiations on the possibilities of collaboration between the defence industries of the two countries, while the Hungarian police will this year continue joint patrols with their Serbian colleagues on the Serbian side of the border between Serbia and North Macedonia. Economic cooperation is also very important, considering that we achieved a mutual trade turnover of 5.8 billion euros in 2022 and 4.8 billion euros in 2023, despite the drop in energy prices. It is also very important that our country is Serbia’s fourth largest foreign trade partner.

Hungary and Serbia are strengthening their cooperation in the area of energy. In your opinion, what significance will the formation of SERBHUNGAS, as the joint gas trading company of Srbijagas and Hungary’s MVM, have?

— SERBHUNGAS is the first company with two co-owners that are the most important state-owned gas companies of two countries. This relates primarily to safeguarding gas supplies, but it is equally important from the point of view of the functioning of the gas market, because a company that operates under EU regulations and beyond the EU must, from a commercial perspective, secure supplies that achieve results on the basis of market expectations. Trust between the two countries in the area of energy supplies is important and could be extended to the areas of electricity and oil supplies in the near future.

“Cocoa prices could hurt the bottom line of chocolate manufacturers”

Michele Buck CEO of Hershey

World Leaders Adopt Nuclear Energy Declaration

At the first Nuclear Energy Summit hosted in Brussels by the International Atomic Energy Agency (IAEA) and the Belgian government, world leaders and government representatives from countries utilising nuclear power or interested in nuclear energy adopted the Nuclear Energy Declaration. Over 30 participants committed their nations to “fully unlocking” nuclear energy’s potential, as outlined in the declaration. Signatories, alongside the IAEA Director General, reaffirmed their intense dedication to nuclear energy as a crucial element of the global strategy for reducing greenhouse gas emissions from the energy and industrial sectors.

Slovakia Heads to Second Round of Presidential Elections

Pro-European former Slovak Foreign Minister Ivan Korčok emerged victorious in the first round of presidential elections. In the second round, he will face off against Peter Pellegrini, an ally of Prime Minister Robert Fico. Korčok secured 42.4% of the votes, while Pellegrini garnered 37.1%. The runoff is scheduled for April 6, two weeks from now. Pellegrini enjoys the support of Prime Minister Fico, who opposes providing military aid to Ukraine and questions its sovereignty, advocating for peace with Russia instead. In contrast, Korčok defends Ukraine’s rights and shares the views of outgoing President Zuzana Čaputova, who chose not to seek a second term. While Slovakia’s presidency is primarily ceremonial, the president ratifies international agreements, appoints critical judges, and serves as the supreme commander of the armed forces.

UN Security Council Demands Immediate Ceasefire

The UN Security Council has adopted a resolution demanding an immediate ceasefire between Israel and Hamas, as well as the urgent and unconditional release of all hostages. The United States abstained from voting, while the other 14 Security Council members voted in favour of the resolution. The US had previously vetoed draft resolutions three times, and Russia and China had blocked the US proposal twice. However, official Washington ultimately decided to abstain from voting, allowing the Security Council to call for an urgent ceasefire during the remaining two weeks of Ramadan. The resolution also emphasises the urgent need to increase humanitarian aid and intensify civilian protection in the Gaza Strip.

“I think climate change is really an enormous threat to the banana sector”

Pascal Liu senior economist at FAO

Trump Enters

Top 500 Richest with $6.4 Billion

Former US President and current Republican candidate for the 2024 elections, Donald Trump, has become one of the top 500 wealthiest individuals globally with a record-breaking fortune of $6.4 billion. This surge in wealth follows the official finalisation of the merger between Digital World Acquisition Corp. and Trump Media & Technology Group Corp. For the first time in history, Trump (age 77) will be listed on Bloomberg’s billionaire index among the world’s wealthiest 500 people, doubling his previous personal wealth threshold of $3.1 billion. Truth Social was launched after Trump’s suspension from Twitter and Facebook in 2021.

China Launches Communication Satellite for Earth-Moon Link

China achieved a significant milestone in exploration missions by launching a relay satellite to communicate between Earth and the Moon. According to China’s Xinhua news agency, the satellite will play a crucial role in collecting samples from the far side of the Moon or uncovering its southern pole. The Queqiao-2 satellite lifted off from the Wenchang Spacecraft Launch Site in south Hainan province and separated from the rocket after 24 minutes. The successful launch marks China’s continued progress in space exploration and underscores its commitment to advancing scientific research and technology.

EU Improves Cross-Border Traffic Offence Penalties

The European Union plans to improve cooperation in penalising traffic violations. Currently, 40% of offenders do not pay fines for violations committed outside their country. To address this, EP representatives and member states have agreed to enhance administrative assistance procedures. New rules are awaiting approval by national parliaments. Authorities of the country where a driver committing an offence originates can collect the fine imposed in another EU member state. The EU country where the traffic violation occurred will have eleven months from the offence date to issue the traffic violation notification. The list of traffic offences triggering cross-border proceedings and penalties will expand to include dangerous overtaking and leaving the scene of the offence.

FREE ACCESS TO THE WESTERN BALKAN LABOUR MARKET

Little Guys Support Each Other

Creating a single labour market in the framework of the Open Balkan initiative is useful, but also has limited scope. It will contribute to better balancing supply and demand in certain ’convertible’ market segments – from construction to the IT and tourism sectors

Given the structure of the labour markets of Serbia, North Macedonia and Albania, the effects of opening up the labour markets of these three countries to the region will have a negligible impact, most likely in the domain of less skilled jobs in the construction and services sectors. The key issues of the brain-drain and the creating of education systems capable of producing a skilled workforce for the 21 st century will remain just as important as they were before the unique Open Balkan ID number became operational.

Branka Anđelković Co-founder and Programme Director of the Public Policy Research Centre

An Even Bigger Grey Market?

In the case of workers of the platform employed in food production and passenger transport, the Open Balkan initiative might not contribute to the creation of new and productive jobs, but will only serve to legalise existing “grey” businesses

The opening of the labour market means simplified procedures for obtaining work and residence permits for all workers, including workers in food delivery and in transportation via digital platforms (so-called platform workers), but also the opportunity to more easily access the labour market in the countries that are part of this initiative: North Macedonia, Serbia and Albania. Those wanting to gain employment in this way no longer have to knock on the doors of the interior ministries and employment offices, but rather can apply for a work and residence certificate via the Open Balkan portal.

Although the number of applicants remains small for now, initial information indicates that service workers are in the highest demand and could prospectively benefit the most from this programme. However, a question arises as to whether this is really the case for platform workers who are also part of this group of highly sought-after professions.

As shown by the multiyear research of the Public Policy Research Centre and the Oxford Internet Institute’s Fairwork project, most workers in this industry are employed in the grey zone, aka the shadow economy, with contracts that often provide barely any form of social and health protection. As such, these workers actually have precarious contracts and very insecure working conditions, despite the good earnings that are usually attributed to them. This also includes safety at work issues, because couriers and other delivery workers are often involved in traffic accidents. This area nonetheless remains unregulated: regardless of individual and isolated attempts to make this work safer, there has been a lack of success to date. Who, then, will cover medical costs for couriers and drivers in the case that they sustain more serious injuries if imported workers receive the same bad contracts (such as those for casual and temporary jobs) as their local colleagues?

In this context, a question arises as to whether the Open Balkan initiative will really contribute to the creation of new and productive jobs or whether it will merely legalise existing “grey” businesses. For example, both the companies that hire these workers and platform economy workers themselves are already accustomed to working in the grey zone in their home countries. So, although the goal of the initiative is to ease the path to legal employment for workers, it is tough to expect it to change the established habits of employers and workers themselves.

There are further concerns that increasing the number of employees through the portal could lead to the overbur-

It is possible for increased competition between platform workers to lead to lower wages and poorer working conditions, instead of improving the situation for all involved

dening of the labour market, considering that this is an area that already lacks legal regulation and controls. It is also possible for increased competition between workers to lead to lower wages and poorer working conditions, instead of improving the situation for all involved.

As such, it is very important to ask how the Open Balkan initiative will influence social security and the rights of workers. This highlights the importance of monitoring this initiative’s long-term effects and taking measures to ensure workers’ protection and wellbeing under the new conditions for doing business.

Čedanka Andrić President of Trade Union Confederation NEZAVISNOST

Increased Competition Between Low-Paid Workers

Considering educational qualification and unemployment structures in Serbia, my opinion is that this measure could only increase the pressure on workers in Serbia to accept lower paying jobs

Idon’t have high expectations when it comes to the establishing of free access to the labour market in the Western Balkans. It could – for now only in theory – improve the availability of required workers in the economies of these countries, increase worker mobility and lead to increasing the region’s attractiveness to potential investors (due to the larger market). It

Serbia issued more than 50,000 work permits to foreigners in 2023 alone, but very few of those foreigners came from the two Open Balkan neighbours or other Western Balkan countries

could potentially also increase economic cooperation between the countries and resistance against the emergence of possible new global crises.

Given the labour market structure of the three countries, it’s highly unlikely that this measure will help reduce the labour shortage problem. By observing the basic macroeconomic indicators of the three countries, it can be concluded that they all lack domes-

tic investments and suffer from large foreign trade deficits, the brain-drain and high youth unemployment. With Serbia leading the way, all three countries primarily base their economic development and drive to reduce unemployment on foreign investors, who are unfortunately attracted by cheap labour. Practice shows labour shortages being increasingly resolved through the arrival of workers from third countries and a more liberal approach to their employment. Serbia issued more than 50,000 work permits to foreigners in 2023 alone, but very few of those foreigners came from the two Open Balkan neighbours or other Western Balkan countries, which only confirms my previous statement.

Countries that have lower earnings and a less developed labour market should potentially benefit the most from labour market liberalisation. In the Open Balkan’s specific case, that means Albania, followed by North Macedonia. However, considering the potential overall effects of this initiative, and especially taking trade volumes into consideration, Serbia could potentially achieve the best macroeconomic results, but these results can’t be significant either, given the volume of exports to these two countries. Analysis of the economies of the

region leads to the conclusion that all of the observed countries are highly dependent on imports, primarily sourced from the EU, and that their initial position for creating positive effects from labour market liberalisation isn’t great in this field either.

Considering educational qualification and unemployment structures in Serbia, my opinion is that this measure could only increase the pressure on workers in Serbia to accept lower paying jobs (in the case that they lack opportunities to find work in other, more developed countries) and that this will create even greater competition between workers coming from other underdeveloped countries, those coming from these two countries and “domestic” workers.

An electronic system will control all those receiving an “Open Balkan ID No.”, meaning that there are no work permits or any other certificates. As to whether these measures could prove effective in protecting the labour rights of these workers, the answer is a resounding no, because they only grant equal rights on paper, while we are witnessing the daily violating of numerous rights of domestic and foreign workers in Serbia, and these measures can’t resolve that in and of themselves.

Jelena Jevtović Serbian Association of Employers

Employers Will More Quickly Find Workers

The employing of citizens of these two countries in Serbia could ease the labour shortage problem, but fundamentally resolving it requires education system reform

It is principally expected that Serbia will be an interesting destination for employment for job-seeking citizens of North Macedonia and Albania. We also expect greater labour mobility within the Open Balkan region that will contribute to the economic development of all signatory countries. The fact that the Open Balkan initiative envisages free labour market access leads to the expectation that employers from all three countries will be able to find the high-quality personnel that they lack easier and faster.

If interest from citizens of these two countries exists, employing them in Serbia could ease the labour shortage problem, but fundamentally resolving this problem requires a systematic approach through reform of the education system in a way that’s aligned with the needs of the economy, i.e. approaching the issue with comprehensive analysis of the occupations that will be in demand in future and those that are no longer needed.

Considering that all three signatory countries have a need for an identical structure of workers, to a greater or lesser extent, the country offering the best working conditions will benefit the most. The fact that the market will be open, and will thus en-

able direct contact between employers and future employees, means that everyone will negotiate for their preferred conditions.

Open Balkan envisages employees from the signatory countries having the same rights as domestic employees and thus being subjected to the laws

Considering that all three signatory countries have a need for an identical structure of workers, to a greater or lesser extent, the country offering the best working conditions will benefit the most

of the host country, both in terms of the protection of workers’ rights and other regulations.

Serbia has for years been confronted by the emigration of workers to EU countries, and citizens of the other two signatory countries are now expected to “fill” the labour market gaps that have emerged as a result of these departures.

Mario Reljanović

Research Associate at the Institute of Comparative Law; President of the Centre for Dignified Work

Emigration to the EU will Continue

I don’t have particularly high expectations when it comes to the establishing of free access to the labour market in the Western Balkans. I don’t expect it to significantly influence labour migration in these lands, primarily due to the fact that these three countries can’t compete with the labour market of the European Union. It could lead to the intensifying of short-term cyclical migrations, as well as work in these countries’ border areas

Indications suggest that it is possible to “transfer” certain profiles of workers that are needed on the labour markets of these three countries, for example by transferring construction workers from Albania to Serbia, with workers in the hospitality sector and tourism heading in the opposite direction. However, I’m not optimistic that such a thing will reach a critical mass. It is also fairly certain that the same labour migration processes, or very similar ones, will continue to take place on all three markets and that unifying them will not lead to the arrival or retaining of the highly specialised workers that are required, because they tend to choose other markets.

It is possible that Serbia will attract the most workers, given that it offers the most favourable working conditions for certain areas of work (primarily in socalled tradesman occupations), for which there are specialised contractors in the other two countries.

The opening up of the regional labour market won’t have a major impact on workers in Serbia. A potential negative effect is possible in terms of falling wages in those sectors where they have risen significantly, due primarily to an extreme shortage of workers and growing demand. If this does happen, I expect the effect to be short-lived, given the constant demand for such occupations and how unrealistic it is to expect continuous waves of this type of labour migration to Serbia.

When it comes to the applying of labour legislation workers from each of the three countries will receive the same treatment as domestic workers. This means that their rights will be respected and protected in accordance with the same principles and based on the same legal mechanisms. This naturally implies the existence of identical problems with the protection of those rights – problems that are already known in each of these countries, and that, in this sense, no major advances will be achieved in any direction.

Given that the unified labour market is envisaged as having only a small effect, there will certainly still be a need to entice workers from other countries

When it comes to workers from the region emigrating to the EU, I think it will continue unhindered. The three countries’ local labour markets are unable to compete with the working conditions offered by EU member states. In terms of the influx of workers from other countries, mainly Asian and African, I also don’t expect significant changes, because a need to entice workers from other countries will still exist.

Mihail Arandarenko

Ph.D., Professor, University of Belgrade Faculty of Economics

Useful, but Modest

The Open Balkan countries don’t have the capacity to solve the labour shortage problem, but they can alleviate it to an extent. The benefits of migration will be distributed relatively evenly between the three countries

The removing of barriers preventing the free movement of labour within the frameworks of three Western Balkan countries is certainly an important positive event, both in an economic and a political sense. When it comes to the practical reach of the Open Balkan initiative on the labour market, I would highlight some limiting circumstances and some favourable ones. Limiting circumstances certainly include the fact that all three countries face a lack of available labour, with Serbia hit the hardest due to the large natural decrease in the working-age popula-

Serbia and North Macedonia are oriented towards the growth of industrial employment, while Albania is creating new employment opportunities in the service sector, This could create space for a useful exchange of workers

tion, while Albania and North Macedonia are hit more when it comes to high levels of emigration. As such, the implementation of the free labour market will create a bottleneck on the labour supply side. The second negative circumstance is the fact that the difference in average nominal earnings, and particularly real earnings in the frameworks of all three

countries, is much lower than the 2:1 ratio, and this is considered as being an essential precondition for intensive labour migration. On the other hand, there are also extremely favourable circumstances for labour migration. First and foremost is gravitation – the three countries are very close to each other and daily migrations are possible between the countries that share a border. Apart from close proximity, linguistic and cultural closeness exists to a large extent, which makes it easier for workers to decide to emigrate temporarily. Similarly, surveys show that employers from all three countries prefer workers from the region to workers from more distant countries. Observing this initiative from both sides, we can conclude that the Open Balkan doesn’t have the capacity to solve the labour shortage problem, but it can alleviate it to an extent.

The benefits of migration will be distributed relatively evenly between the countries. Given that differences in earnings aren’t excessive, the main effect of opening and effectively consolidating the labour market will be in the better matching of supply and demand in certain ‘convertible’ market segments – from the construction sector to IT. Similarly, while Serbia and North Macedonia are oriented more towards the growth of industrial employment, Albania is creating new employment opportunities in the service sector, primarily in tourism. We could thus see a useful exchange between these countries of workers with different qualifications.

As the country with the highest earnings, the position of workers in Serbia shouldn’t worsen due to the expected arrival of a modest number of foreign workers from North Macedonia and Albania. They will all be employed as individuals, in accordance with Serbia’s current labour legislation, and will enjoy the same level of protection as domestic workers. Essentially, foreign workers are often more expensive for employers than domestic workers – considering the costs of travel, accommodation and training, but also the increased turnover of foreign employees. Generally speaking, in countries confronted by great labour shortages, the influx of workers from abroad – with the aim of implementing projects that would otherwise be difficult to implement precisely due to the labour supply bottleneck –can have a positive impact on the future employment of domestic workers due to the positive impact of those projects on GDP growth.

It should be noted that annual gross outflows of the Serbian population on the basis of labour migration total approximately fifty thousand, while inflows have stood at approximately the same level over the last few years. The overall impact on the Serbian labour market of the additional influx of workers from the region thanks to the Open Balkan initiative – which we estimate to stabilise at several thousand employees per year over the next few years – will therefore be positive, but relatively small.

SERBIAN ECONOMY

The Secret of Serbia’s Success

Production of higher technological quality is a key means and catalyst for Serbia’s economic resilience against external shocks and a result of the successful technological restructuring of industry over the previous decade

By Ivan Nikolić, editor of monthly publication MAT (Macroeconomic Analyses and Trends), Institute of Social Sciences

hen talks were launched with the Government of Serbia over the third revision of the IMF arrangement in mid-March, IMF Mission Chief Donal McGettigan used the word “resilient” to best describe the Serbian economy. According to his assessment, Serbia handled recent global shocks in an impressive way. Moreover, stats for January indicate that growth is continuing despite external restrictions and geopolitical challenges remaining. The growth of goods exports is particularly in -

Wtriguing and was even maintained last year, when there were extreme fluctuations in the costs of raw materials and logistics, capital prices rose and export orders fluctuated.

The physical volume of industrial production levels reached at this moment is the highest it’s been in the last three decades. Industry’s accelerated recovery began following the successful implementation of fiscal consolidation, while the manufacturing sector has provided a significant contribution to economic growth since 2015. It also led to the growth of goods exports (approximately 86% of total goods exports are generated by the manufacturing sector).

However, the noted “resilience” isn’t accidental, rather it’s primarily a result of the successful technological restructuring of industry over the previous ten years. Investments in expanding capacities proved crucial for export-oriented growth –specifically those going towards medium-tech and high-tech branches of production. These investments

Openness to new technologies, flexibility, agility and innovative thinking are new qualities characterising Serbian industry

were, on the whole, generated by foreign companies, though the effect of domestic companies isn’t negligible either.

Advanced technological possibilities improve the efficiency of production processes, thus reducing the country’s vulnerability to external risks and market fluctuations. Countries with a higher degree of technological intensity in their exports, and with those exports distributed widely across industries, demonstrate a significantly higher degree of resilience.

Serbia’s industrial production is no longer ‘inferior’, as some spiteful people like to suggest. It is true that it might still lack confidence, but performance outputs undoubtedly testify to positive shifts and technological advances. Competitive products are crucial to the long-term expansion of exports, and Serbia has ever more of them. Openness to new technologies, flexibility, agility and innovative thinking are new qualities characterising Serbian industry. Manufacturers are accepting changes intensively, in order to ensure timely adaptations and diversify their activities, because it is only possible to survive on the global market by rationally perceiving macroeconomic trends, utilising the latest technologies and modernising operations.

The figures for Serbia show stable technological advances from low-tech to medium- and high-tech exports.

In 2023, the manufacturing sector achieved exports worth 24,675.8 million euros in 2023 (representing 35.5% of GDP, compared to a result barely exceeding 20% of GDP in 2010). This sector’s import-export coverage ratio stood at 93.5% (representing the best result to date, together with 2017’s coverage ratio of 93.9%).

Six branches of the manufacturing sector achieved exports worth more than a billion euros over the course of last year. These included the production of auto parts and engines (2.55 billion), the production of electric motors and distribution equipment (1.82 billion), the production of rubber products (1.19 billion), the production of general-purpose machinery (1.03 billion), the production of

precious and other non-ferrous metals (1.02 billion) and the production of plastic products (1.01 billion).

The first three of the aforementioned branches simultaneously achieved the largest positive foreign exchange balance. Meanwhile, the surplus in the production of auto parts and engines exceeds two billion euros (2.04 billion), while in the production of electric motors and distribution equipment and the production of rubber products it

Exports of products of mediumhigh technological intensity (considered in isolation) in 2023, apart from achieving a record high in terms of volume, achieved parity with imports for the first time ever

amounted to 849.1 and 765.0 million euros, respectively.

If we classify the international goods exchange according to the technological complexity of production, last year’s overall increase in processing sector exports compared to 2022 (worth 1,270.9 million euros) resulted from exports of so-called medium-high technological complexity (€1,163.8 million, i.e. growth of 12.5%) and products belonging to the so-called High-technology sector (€135.7 million, i.e. growth of 15.6%).

It is clear from the picture created here that exports of so-called medium-high technological complexity products grew the fastest over the previous three years (increasing from €6,043.2 million in 2020 to €10,490.6 million in 2023, representing growth of 73.6%). Exports of this group of products have increased as much as 5.2-fold since 2010.

The absolute growth of exports of this technology group has also been accompanied by a dramatic improvement in the foreign trade balance. At the beginning of the previous decade, barely two-fifths of combined imports of high- and medium-high technology products were covered by exports, while their exports last year achieved a coverage ratio of more than fourfifths of imports.

Exports of products of medium-high technological intensity (considered in isolation) in 2023, apart from achieving a record high in terms of volume, achieved parity with imports for the first time ever. That’s why production of higher technological quality is a key means and catalyst for Serbia’s economic resilience against external shocks.

With similar export performances between countries, even in the highest technology segments, the difference in quality lies in the way local physical and technological inputs are used

Serbia’s chronically poor export structure, following its rapid deterioration in the last decade of the 20th century and its stagnant and weak advances after the 2000s, has finally changed markedly in the last few years. The manufacturing sector and goods exports are currently performing satisfactorily, and in the meantime the technological intensity of Serbian exports is also changing for the

better. Higher quality industrial production provides for goods exports that are more competitive, technologically advanced and increasingly valuable. However, if we want to maintain such a dynamic, growth in exports of medium- and high-tech products should be accompanied by growth in the level of technological innovation. With similar export performances between countries, even in the highest technology segments, the difference in quality lies in the way local physical and technological inputs are used. And they must prevail. This is possible provided investments increase in high-tech and medium-tech research and development activities, and provided various technological barriers are overcome.

BALANCING PROGRESS

GUIDE TO HI-TECH 2024

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BALANCING PROGRESS AND EU ALIGNMENT

Serbia’s digital transformation, which has been spearheaded by Ana Brnabić, has achieved remarkable progress, but still requires swift harmonisation with EU regulations to ensure the country’s future success and integration

From 2017 until early 2024, Serbia’s digital agenda was synonymous with the tenure of then Prime Minister Ana Brnabić. But with her now taking on the role of Speaker of the National Assembly of Serbia, a question arises as to where the epicentre of Serbia’s digital transformation will be located?

The progress achieved on digitalisation, particularly in establishing an institutional framework conducive to the growth of the start-up community, was undoubtedly both necessary and commendable. The Serbian start-up community and the number of innovative companies have today greatly surpassed the figures seen in 2017. For instance, Serbia’s ICT sector exports are projected to soar to a value of 10 billion euros ($10.9 billion) by 2027, representing a substantial increase from €3.5 billion in 2023 –with that 2023 total itself marking a tenfold surge compared to 2012.

The trajectory of progress is expected to persist, fuelled by ongoing endeavours in digital infrastructure development, prepa-

rations for the advance of artificial intelligence and plans to expand science and technology parks across various cities.

However, it is evident that Serbia still has much ground to cover when it comes to the overall institutional framework needed to swiftly align with European regulations governing digital spaces. Given the intricacy of digital infrastructure and the challenges of managing the entire digital ecosystem, embracing the EU model becomes an imperative for Serbian businesses to access foreign markets, while concurrently safeguarding our citizens in the digital space . As Share Foundation Director Danilo Krivokapić cautioned, “If we hesitate excessively, we could develop the wrong strategic directions that it could prove costly to correct in the future”.

EMBRACING THE EU MODEL IS AN IMPERATIVE FOR SERBIAN BUSINESSES TO ACCESS GLOBAL MARKETS WHILE ENSURING THE PROTECTION OF CITIZENS IN THE DIGITAL SPACE

At this juncture – amid a significant slowdown in the EU integration process across the region and with accession fatigue prevalent on all fronts – concerted efforts are needed to advocate for the Western Balkans’ accession to the EU’s Digital Single Market. This endeavour must be preceded by the harmonisation of regulations in this domain.

For example, Turkey, a longstanding EU candidate, was swift in addressing competition concerns in the digital space by proposing amendments to its Competition Law, mirroring the Digital Markets Act, in an effort to adapt regulations to suit evolving business models and safeguard fair competition in the digital sector.

The benefits to both the Union and the region are unequivocal and serve to catalyse further EU integration processes. It thus becomes an imperative to establish a new focal point in the government to champion this development. Potential partners, some of whom we interviewed for this publication, are clearly eager to see such a scenario unfold.

ACCESSING DIGITAL MARKETS

The accession of Western Balkan countries to the EU’s Digital Single Market, together with the previous harmonising of regulations governing this area, could bring benefits to both the EU and the region, and could further encourage the EU integration process

DANILO KRIVOKAPIĆ

Director, SHARE Foundation

Serbia’s institutional framework is harmonised with European regulations to a certain extent, but we are still lacking a lot, says SHARE Foundation Director Danilo Krivokapić.

In accordance with the EU Association Agreement, Serbia is obliged to harmonise its regulations, the most significant example of which is the Personal Data Protection Act, which is almost a word for word transcription of the General Data Protection Regulation (GDPR). Serbia has also adopt-

ed its Law on Information Security, which is harmonised with the first version of the Directive on Network Information Security (NIS Directive), while the new Draft of this law, presented during summer 2023, aims to harmonise regulations with the latest version of the EU regulatory framework, the so-called NIS2 Directive.

“And yet, numerous challenges still remain ahead, given that the EU recently began implementing two important regulations – on digital services and digital markets – that represent a complete-

ly new legal model for managing the digital space,” says Krivokapić.

The Regulation on Artificial Intelligence, which was adopted on 13th March, after a long lengthy in the European Parliament, is no less important.

“These are extremely important regulations for the applying of digital technologies, and how Serbia approaches harmonisation with them will determine not only the possibility of our companies entering the EU and global digital markets, but also the protecting of the basic rights of our citizens in the digital space,” explains our interlocutor.

What are the benefits and dangers of deregulating/reregulating the digital space?

— I think that can be seen clearly in the example of the EU, which has really become a leader in the regulating of the digital space. It seems that, on the one hand, this has caused a slowdown among European companies when it comes to development and innovation, which wasn’t the case in countries with significantly more liberal rules, such as the U.S. and China, which are undoubtedly today’s leaders in the development of digital technologies. On the other hand, we can talk about the “Brussels effect”, particularly when it comes to data protection rules following the GDPR’s adoption. That regulation set a high standard of protection at the global level, and numerous countries are today being guided by that standard, with

many of them having adopted regulations with a view to the GDPR. This advanced market functioning, with the uniformity of rules significantly raising the level of legal certainty and improving the protection of citizens in the EU and around the world. When it comes to Serbia, I don’t think the right question to ask is how detailed our rules on digital space will be, but rather what our country really can and should control.

Do EU candidate countries today have time/space to wait when it comes to harmonising with European acts, in the way they do with other regulations, or do they have an interest in accelerating that process?

tal Single Market – naturally with the previous harmonising of regulations governing this area – could bring benefits to both the EU and the region, and could further encourage the EU integration process.

As is the case with the GDPR, could Serbia merely transcribe the text of the European AI Act and incorporate it into its own legislation, or does the national context have its own specificities?

— The transcribing of the European regulation on data protection had some extremely positive points. We were among the world’s first countries to adopt the new personal data protection model, with which it became easier for domes-

SERBIA BADLY NEEDS A LAW ON ARTIFICIAL INTELLIGENCE THAT MIRRORS THE MODEL OF THE RECENTLY ADOPTED EU REGULATION

— I believe that our region needs to harmonise with EU regulations governing the digital space as quickly as possible. Considering the complexity of digital infrastructure, and especially the challenges of managing the entire digital ecosystem, I currently don’t see another model that would enable our companies to easily access foreign markets while simultaneously ensuring the protection of our citizens in the digital space. In this sense, I think that we need to follow the EU model, which has a significantly greater influence on the global scene. If we hesitate excessively, we could develop the wrong strategic directions that it could prove costly to correct in the future.

Given that the European integration process has slowed down significantly in this region, with serious accession fatigue on all sides, I think that the accession of Western Balkan countries to the EU’s Digi-

essence it makes these rules easy to breach, given that penalties for noncompliance do not have a significant impact on operations.

It seems to me that we badly need a law on artificial intelligence that mirrors the model of the recently adopted EU regulation. That model is horizontal and based on risk assessment, which in my opinion leaves ample room for research and development, while ensuring a high level of legal certainty. Of course, it is necessary for such a law to be tailored to suit the domestic legal framework in order for us to avoid inconsistencies, but also to harmonise the penal policy with the EU in order for maximally ensure its implementation.

What key challenges will businesses and start-ups in Serbia face when it comes to implementing this new framework?

ETHICS

tic and foreign companies operating in Serbia to comply with the new legal framework, particularly bearing in mind that the EU has a significantly more developed legal framework in this field, which eases the interpreting of new and unfamiliar rules. It likewise guaranteed the highest level of rights for our citizens. On the other hand, simply transcribing the rules without taking into consideration the domestic legal framework did lead to certain contradictory and unclear rules, together with the introducing of institutes that it currently isn’t possible to apply in Serbia. It is also a major mistake that the level of the fines does not correspond with the penalties prescribed by the GDPR – fines exceeding a billion euros have already been imposed in EU countries, while the highest penalty prescribed by our law totals approximately 16,000 euros. This might sound like a great relief for companies, but in

— There are certainly numerous challenges, considering that regulations are becoming an increasingly complex legal matter, both on domestic and foreign markets. This entails high costs of harmonising with the new rules and investing in administrative capacities to ensure internal processes adhere to the new regulation. I think that understanding the ethical dilemmas in the development of new technologies and the impact of technology on society is something that it is no longer possible to avoid in the development of start-ups and businesses. That’s also precisely why we have such a complex regulation. These challenges are all particularly evident when domestic businesses start collaborating with international partners, primarily from the EU. GDPR compliance is today a standard that’s simply implied, because otherwise companies are exposed to a serious risk of being sanctioned and facing high fines. Given the trend in the adopting of new regulations, we can expect ever more numerous demands to harmonise and comply with ethical rules.

Understanding the ethical dilemmas in developing new technologies and the impact of technology on society is something we can no longer avoid in the development of start-ups and businesses

MISTAKE

It is a major mistake that the level of fines in our Law on Data Protection doesn’t correspond with the penalties prescribed by the GDPR, with companies mistakenly thinking that this is a great relief

HESITATION

If we hesitate excessively in harmonising with the EU, we could develop the wrong strategic directions that it could prove costly to correct in the future

NEBOJŠA BJELOTOMIĆ

CEO of the Digital Serbia Initiative

BUSINESS AND ACADEMIA MUST COLLABORATE BETTER

The business sector should, with state assistance, direct academia towards addressing topics that are in the interest of economic growth and development, as well as encouraging innovation and thus attracting talented students to the fields that we need

According to the latest research conducted by the Digital Serbia Initiative, Serbian start-ups have strong engineering personnel, but still lack knowhow in the areas of sales and marketing. According to Nebojša Bjelotomić, chief executive officer of the

Digital Serbia Initiative, our university system includes these subjects in its curriculum, but the problem is the failure to stress their importance and applicability in real world situations. “The topics needed to further expand the startup ecosystem relate primarily to internationalisation and scaling

(company growth). And sales and business development processes provide the basis for both,” says our interlocutor.

“Representatives of companies (both small and large) also have the responsibility to increase their attractiveness. They should, through cooperation with colleges, reach a position from which they can interest students in these fields of study, but also to direct teaching staff to engage in research in areas of interest, mostly doing so by offering them “live” data,” explains Bjelotomić.

“The academic community has a need to engage in lecturing and studying. The business sector should, with state assistance, direct academia towards dealing with specific areas. Through the creation of student internships, guest lectures and the assigning of case studies, it is possible to attract talented people to the required areas. Given that start-ups lack the resources needed for this longstanding work, the role must be taken on by organisations that provide support within the start-up system.” INTERVIEW

To what extent can this shortfall be remedied by non-formal education; how accessible and high-quality is it?

— Non-formal education generally tends to be much more market-oriented than formal education. This means that, for example, it will only address the development of skills needed for B2B sales when it identifies the potential for financial gain. That is perhaps a longer pathway than the one mentioned in the answer to the first question. At the same time, a large number of online courses covering these same topics already exist. They are high-quality and have improved over time. It is true that they have a language barrier factor, i.e. that they are mostly in English. But again, a foreign language mustn’t represent a hindrance if the intention is to apply the acquired knowledge on international markets.

Another option within the framework of non-formal education is for lectures on topics of interest with experts from abroad to be organised by companies themselves – provided they have the capacity – or by support organisations acting on behalf of start-ups.

What is the Digital Serbia Initiative doing on this front and how are your results?

— One example of training for “lacking” skills is the Ninja programme, which the Digital Serbia Initiative introduced in cooperation with JICA (Japan International Cooperation Agency). Within the scope of this programme, expert lectures have been organised for start-ups at an advanced stage of development (that have a developed product). The experts either came from Serbia or abroad, depending on the topic. Topics covered during the course of the programme ranged from basic accounting to online marketing and e-commerce. We hope that this programme will be organised again this year, and that it will this

time have a regional character, i.e. that it will include start-ups from across the Balkans. Alongside this programme, we also hold individual lectures on topics of interest (e.g. on LinkedIn-based sales, with the lecture given by an expert from Sweden). Moreover, through the Career 4.0 programme, we bring together business mentors and high school pupils, introducing them to new occupations in the IT industry, skills, and people who have similar interests.

We discussed the maturing of our start-up market and growing interest in investing in Serbian start-ups among foreign funds in previous years. To what extent have current global trends, such as political and economic uncertainty, impacted these tendencies and what can we hope for in the near future?

— Observing the global situation, benchmark interest rates have risen markedly, under the influence of inflation. This has been characterised by an increase in the “price” of money, but has also reduced its availability. However, this trend is somewhat milder in Europe than in America, according to the reporting of London-based magazine The Economist, in the sense that European start-ups raised slightly less money in 2023 than they managed in 2022, but not to such a dramatic extent as was seen in the U.S. Our start-up ecosystem has another mitigating factor. Due to their relative lack of development, start-ups from our area are “seeking” investments of between half a million and two million euros, which is more accessible compared to larger financing drives. According to preliminary data from domestic accelerator Katapult, which is organised and managed by the Innovation Fund, the group of start-ups that collected investments during 2023 managed to collect almost the same amount of funding as the group from 2022.

At one point, we had ample initiatives to tailor the institutional framework for the work of start-ups. Where do we stand today on that path and how much can we use domestic resources to develop AI-based solutions?

WE HOPE THAT THE NINJA PROGRAMME, IN COOPERATION WITH JICA, WILL BE ORGANISED AGAIN THIS YEAR, AND THAT IT WILL THIS TIME INCLUDE STARTUPS FROM ACROSS THE BALKANS

— The institutional framework is advancing. In the Law on Innovative Activity, the state recognised the start-up concept, but also the angel investor concept. It envisaged and subsequently established a registry of start-ups aimed at easing cooperation between the state administration and start-ups. We are satisfied that more than 120 companies registered with this registry in the first few months after its establishment and will work to increase that number further. All start-ups wanting to apply for funds that are under the authority of the Innovation Fund or wanting to apply for some of the available tax breaks (such as exemptions from taxes and contributions on the founder’s salaries or exemptions granted on the basis of research and development activities) need to register. The process is automated to a large extent, in order to reduce the complexity and required application time.

AI INCREASINGLY PRESENT IN INDUSTRY

The Government Data Center in Kragujevac is one of eight European data centres classified as Class 4, which represents the highest internationally recognised level of security and reliability

DANILO SAVIĆ Data Cloud Technology CEO

Those who don’t focus on developing artificial intelligence on time will find it challenging to catch up later – says our interviewee, before explaining Serbia’s spot on the map of countries that are furthest ahead when it comes to digitalisation and the development of information and communication technology (ICT).

Since its opening, the Data Centre has repeatedly proven itself to be a significant initiator of Serbia’s fourth industrial revolution and digitalisation. Can we be satisfied with the speed at which we’re advancing towards the future?

— The fourth industrial revolution bridges the gap between people and technology, unlike the previous three revolutions that only changed how tasks were per-

formed. Data has become one of the most important resources in this context. There is no longer any industry that’s untouched by information and communication technologies; digitalisation is an inevitability unfolding before our eyes.

I am pleased that we are part of the story in which UN experts have recognised and positioned Serbia high on the global list of countries based on the criterion of progress in the digitalisation of state administration. Our country currently ranks 40th, while in terms of the speed of progress it ranks an excellent 10 th globally. The role of the State Data Centre in Kragujevac and Data Cloud Technology in these successes primarily lies in the aspect of digitalisation-supporting infrastructure. In such instances, we always emphasise our joint contribution with the team from the Office for Information Technologies and eGovernment.

Serbia acquired its first supercomputer at your State Data Centre in 2021. How important is this for the sustainability of the economy, scientific development and the state administration?

— Based on the Strategy for the Development of Artificial Intelligence in the Republic of Serbia for the 2020-2025 period, a national AI platform has been established and made available to the scientific community. This platform provides excellent support to scientific research and, consequently, economic development. Support for scientific research is formally regulated through agreements to implement, improve and expand on the use of artificial intelligence in Serbia with all universities in the Republic of Serbia and several prominent institutes, as well as science and technology parks in Belgrade, Novi Sad, Čačak and Niš.

We further aim to promote industry’s greater adoption of artificial intelligence. Given the extensive use of the AI platform, we have set a goal of significantly increasing capacities in the near future, making us absolute leaders in this part of Europe.

We are on the verge of extremely rapid global changes. Those who don’t focus on developing artificial intelligence on time will find it challenging to catch up later. This applies not only to compa -

THERE IS NO LONGER ANY INDUSTRY THAT’S UNTOUCHED BY INFORMATION AND COMMUNICATION TECHNOLOGIES; DIGITALISATION IS AN INEVITABILITY UNFOLDING BEFORE OUR EYES

nies, but to entire countries, underscored by the significant importance of the National AI Development Platform.

Thanks to having earned the highest international standard certification for data centre security and reliability, you have attracted the largest and most important companies in the IT sector. Whose data do you store?

— We are one of only eight Data Centres in Europe to be classified as Class 4, which is the highest internationally recognised level of security and reliability. We have recently undergone recertification, which was verified by Germany’s TÜV, as was the certification process itself. This involves the most serious measures and indicators, prompting the rhetorical question: in what other areas are we among the top eight in Europe?

As a logical consequence of the aforementioned, our partners today include some of the global market’s most important players: Oracle, IBM and Huawei, among others. Naturally, our clients include all telecommunications companies operating in Serbia, all relevant companies on the domestic ICT market and renowned companies from beyond the IT sphere that store their data with us.

I would like to highlight that we recently acquired our first client from the region in the form of Poštanska štedionica Bank from Banja Luka, thus continuing our very successful cooperation with Poštanska štedionica Bank. It is very pleasing to us that this partner is from Republika Srpska.

When will construction of the Innovation District begin? Could it be said that it represents the realisation of new visions and aspirations to advance in this area and further accelerate the development of Serbia’s ICT sector?

AMONG THE PREREQUISITES

FOR MODERNISATION AND DIGITALISATION IS SECURE, EASILY ACCESSIBLE AND FAST DATA –

PRECISELY THE MISSION OF OUR TEAM

Data Cloud Technology is mentioned in the “Serbia 2027 Leap into the Future” plan for modernisation and digitalisation. What is the focus on: expanding capacities; building additional modules; or purchasing new supercomputers?

Our country currently ranks 40th, while it ranks 10th globally in terms of the speed of progress on the digitalisation of state administration

— The answer to your second question is affirmative, but the strategies and visions of the Innovation District extend far beyond merely contributing to the development of the ICT sector in Serbia. With the laying of the cornerstone, construction of the District is officially underway, representing a logical continuation after promoting Kragujevac as a major IT centre with the construction of the State Data Centre. The National Centre for Information Security is planned to operate within the District. Additionally, it will host Serbia’s 5th science and technology park and a digital centre with entertainment and sports facilities that are open to members of the IT community. The Innovation District will be built in phases, due to it being an extensive investment that cannot be realised quickly.

It is important to note that the District will be open to citizens and visitors, while commercial lessees at the State Data Centre can obtain the necessary office space there.

— The focus is on everything you mentioned. The resources of the artificial intelligence platform, which is available to the scientific community, will be significantly increased in the coming period. The State Data Centre is expanding its production capacities within the framework of the initial project, but is doing so faster than originally planned. We will soon begin technologically equipping the modules where equipment for new and additional equipment for existing clients will be housed. Market demand for our services is high and we strive to meet clients’ needs. Among the prerequisites for modernisation and digitalisation is secure, easily accessible and fast data – precisely our team’s mission.

Thanks to the development of the ICT sector, Belgrade and Novi Sad are no longer the only cities in the country that attract good companies and experts in this field. Is the Data Centre’s impact on Kragujevac and Serbia apparent?

— The dilemma over Kragujevac’s role in developing our ICT sector no longer exists. We are proud of this fact and confident that this contribution will continue to grow in the future. The Innovation District also means creating new job opportunities for young engineers and professionals who will build their careers here without ever needing to leave Kragujevac. I cannot think of anything more positive than what is happening in our city. I believe the momentum of ICT sector development in Serbia will also find its footing in other cities, not just in Belgrade, Novi Sad and Kragujevac.

ur interlocutor works continuously to improve its software solutions and adapt them to the requirements of existing clients and the needs of new markets that are opening up to this company. And it is thanks to these efforts that they remain at the very top.

OAfter a full two decades, hundreds of satisfied clients and many software solutions, you continue to thrive in the company of high-tech firms that are changing the face of Serbia and the region. How do you explain this success?

— Surviving in such a company can be explained in one word: focus. And that means being focused on several keys factors, the first of which is quality when it comes to products and services. INOVA offers its users high-quality software solutions and superior services that meet all clients' needs. The quality of our most popular solution in the telecommunications field, TeleCAD-GIS, is a key factor in the company’s longterm success. The second place is focusing on reputation, integrity and commitment to users, thanks to which we are persevering on the market and striding towards the top.

We continuously work on innovation and adapting our products and services to market changes and clients’ needs We aim to adapt ourselves to new technologies and trends, while in the meantime

QUALITY FIRST AND FOREMOST

INOVA-geoinformatika’s software solutions are applied in many areas – from telecommunications and electrical power grids, via road infrastructure to ecology – and serve to change the fundamental structure of the economy

GORAN MEDIĆ

Executive General Manager at INOVA-geoinformatika

striving to maintain and improve the level of quality.

At the foundation of everything are the latest technologies, machine learning, artificial intelligence etc.

— Given that the INOVA name is rooted in the word innovation, we strive to justify that name and to continuously improve our products. By applying cutting-edge

APPLYING CUTTING-EDGE TECHNOLOGIES, SUCH AS AI, ENABLES OUR PRODUCTS TO LEARN AND ADAPT ON THE BASIS OF THE DATA THAT THEY PROCESS

technologies, such as AI, it enables our products to learn and adapt based on the data that they process. Through geospatial data analysis, our products predict the needs of clients or identify patterns that prove useful when it comes to making decisions.

The INOVA team is focused on utilizing the latest technological tools and platforms to ensure that our products are competitive and satisfy the high standards of the geoinformatics industry. This

includes using advanced algorithms, cloud computing, the IoT and other technological innovations.

INOVA adapts and improves its products continuously, through careful market research and understanding clients’ needs. One example of this is the latest version of the TeleCAD-GIS software, which enables the team to satisfy the demands of different investors under shorter deadlines and in a simplified way. A product design focused on flexibility and scalability enables it to adapt to the existing and new users and markets.

Are your solutions the key to your future success?

— More efficient management of human resources helps our users improve the efficiency of their employees, create better quality solutions and thus improve their competitiveness, which results in more optimal use of resources, reductions in costs and improved efficiency. Through its products, INOVA helps companies adapt to digital transformation and take advantage of the potential of geoinformation technologies to improve their business processes.

We could thus say that our products play a major role in leading society into the future, enabling us to better understand and more efficiently utilize resources, improve connectivity and mobility, encourage innovation and digital transformation.

BANKING OF THE FUTURE

The development of technology has been transforming banking for more than two decades, from the start of internet use to the rise of online and mobile banking. And yet, the banking industry finds itself again on the brink of another transformative era, driven by rapid advances in artificial intelligence and the emergence of generative AI. As we look to the future of banking, it is crucial for banks to prepare for the changes brought by these technologies, not only in terms of operational efficiency, but also in the way they interact with clients and compete in the marketplace

Banca Intesa COO

AI and generative AI are set to revolutionise the banking sector by automating routine tasks, enhancing decision-making processes and providing personalised customer experiences, while also assisting in fraud detection and risk management, making the banking ecosystem safer and more resilient. As a consequence, the way banks work is about to change radically. New skills, approaches and mindsets will be needed, not only in IT, but—more critically—in every function and at every level of bank. Banks will need to invest in upskilling and reskilling their employees to work alongside AI, focusing on areas where human empathy and creativity are irreplaceable.

In an increasingly competitive landscape, banks must leverage AI to stay ahead. Current predictions are that banks are likely to benefit more from generative AI than any other industry. This involves not just adopting AI for internal processes, but also using it to enhance customer engagement. Implementing AI in everyday processes will not bring any bank a competitive advantage, but not acting quickly will certainly

create a disadvantage. By analysing client data, AI can help banks anticipate needs and offer tailored solutions, making it harder for competitors to lure clients away. Furthermore, banks should collaborate with fintechs and tech firms to access cutting-edge AI technologies and foster innovation.

Hyper-personalisation is the future of customer engagement in banking. By harnessing AI and big data analytics, banks can create highly personalised customer experiences, from customised financial advice to individualised product offers. This level of personalisation fosters client loyalty and increases lifetime value. Banks should also explore the use of chatbots and virtual assistants powered by generative AI in order to provide 24/7 personalised support, making banking more convenient and accessible.

If they are to prepare for the future of banking, banks need to embrace digital transformation, i.e. invest in digital infrastructure and adopt cloud technologies to support AI integration, focus on data privacy and security amid increased reliance on AI and data analytics, foster a culture of innovation and increase their agility by encouraging a mindset of lifelong learning and experimentation to keep pace with tech-

nological advances and work closely with regulatory bodies to navigate the ethical and legal implications of AI in banking.

Banca Intesa, which operates as part of the international banking group Intesa Sanpaolo, has been relying on AI-based tools for years, primarily in automating business processes, developing risk models, segmenting its customer base and creating personalised offers. In seeking to further deploy new tech, we plan to use generative AI initially for internal optimisation and productivity improvements, for example to enable employees to respond to customer queries, find the required information and perform the necessary analyses in a way that will not only simplify their daily tasks, but also improve their interaction with clients and, ultimately, customer satisfaction.

The future of banking is poised for a significant shift, driven by AI and hyper-personalisation. Banks that prepare proactively for these changes – by investing in technology, upskilling their workforce and prioritising customer-centricity –will be well-positioned to thrive in this new era. By embracing innovation and adapting to the evolving landscape, banks can unlock new opportunities and deliver unparalleled value to their customers.

ZORANA BRANKOVIĆ

PREDRAG SKOKOVIĆ Managing Director & Co-founder at Quality House

LIFELONG LEARNING

Quality House is a company that has been providing software testing and ISTQB accredited training services for IT firms of all sizes for two decades and is today known as a trusted global partner

When, in partnership with Quality House, I founded a branch in Serbia in 2016, we combined our knowledge and experience with colleagues from Bulgaria and relayed that across the entire territory of the Balkans, says MD and co-founder Predrag Skoković, noting that the company is today best known across the region for its courses, despite outsourcing remaining its dominant service.

How did your beginnings look; what led you to decide to deal with software testing?

— It was 20 years ago that my business partner, Mitko Mitev, founded company Quality House in Sofia, Bulgaria, with the aim of offering quality control services, i.e. the testing of software products. The initial idea was to offer classic outsourcing services, to make Quality House employees who have appropriate qualifications in the area of testing available to other IT compa-

Does the wide spectrum of business domains that you support require that you adapt quickly?

nies. The need to organise courses intended for professionals also soon imposed itself.

Interestingly, global organisation ISTQB was formed just a few years earlier and defined the scope of knowledge and skills that need to be possessed by those dealing with software testing. Quality House recognised this as a good foundation to offer software testing courses in accordance with the rules included within the teaching material promoted by ISTQB. Given that I switched from my career as a programmer to a successful software tester many years before founding Quality House, recognising the need to expand this mission was a natural progression.

Outsourcing remains Quality House’s dominant service, but it is now supported by professional courses that compel our employees to pursue certification, and then to advance further and learn how to transfer the knowledge acquired as lecturers.

— Nothing can be done today without software, because it forms part of every business sector – from medicine, via the automotive industry, gaming and gambling, to banking and finance – but someone has to produce that software in accordance with all good practices. Software is just a support tool in most business sectors, but we need to learn what those sectors do. That doesn’t mean that we will learn medicine or banking, but we need to understand the specifics of those professions in order to ascertain whether the software has the appropriate quality. In this sense, we have to adapt very quickly and learn constantly. It is enough to note how much the IT world has changed in the last six to 12 months and to realise that someone had to test it all. All of us who deal with software testing had to monitor all trends, adapt to them and be aware of every new solution appearing. That’s why we often emphasise that learning never ends.

Your company is among the co-organisers of the SEETEST conference, which will be held in late September. Is this an important event for your industry?

— The SEETEST conference is among the most highly attended European events of this type. It emerged as a need of people gathered around Quality House and the SEETB organisation, as our regional committee for Southeast Europe, to give something back to the community and to exchange knowledge with as many colleagues as possible worldwide. We launched it in 2008, with about 150 participants, and today we bring together an average of between 600 and 700 software testers. This year’s next SEETEST will be held in Zagreb for the first time, because we believe that the Croatian market has advanced significantly. And this turned out to be a good decision, because we’ve already sold 200 tickets.

MARGRETHE VESTAGER IS EXECUTIVE VICE PRESIDENT OF THE EUROPEAN COMMISSION

HOW TO THINK ABOUT AI POLICY

As policymakers and regulators around the world grapple with recent developments in artificial intelligence, they should look to the European Union for a basic model of how to balance freedom and safety. The key is to focus not on the technology, but on the risks that are likely to accompany its various uses

In Poznan, 325 kilometres (200 miles) east of Warsaw, a team of tech researchers, engineers and child caregivers are working on a small revolution. Their joint project, “Insension,” uses facial recognition powered by artificial intelligence to help children with profound intellectual and multiple disabilities interact with others and with their surroundings, becoming more connected with the world. It is a testament to the power of this quickly advancing technology.

Thousands of kilometres away, in the streets of Beijing, AI-powered facial recognition is used by government officials to track citizens’ daily movements and keep the entire population under close surveillance. It is the same technology, but the result is fundamentally different. These two examples encapsulate the broader AI challenge: the underlying technology is neither good nor bad in itself; everything depends on how it is used.

AI’s essentially dual nature informed how we chose to design the European Artificial Intelligence Act, a regulation focused on the uses of AI, rather than on the technology itself. Our approach boils down to a simple principle: the riskier the AI, the stronger the obligations for those who develop it.

AI already enables numerous harmless functions that we perform every day – from unlocking our phones to recommending songs based on our preferences. We simply do not need to regulate all these uses. But AI also increasingly plays a role at decisive moments in life. When a bank screens someone to determine if they

Fines would range from €35 million ($37 million) or 7% of global annual turnover (whichever is higher) for violations of banned AI applications

qualify for a mortgage, it isn’t just about a loan; it is about putting a roof over their head and allowing them to build wealth and pursue financial security. The same is true when employers use emotion-recognition software as an add-on to their recruitment process, or when AI is used to detect illnesses in brain images. The latter is not just a routine medical check; it is literally a matter of life or death.

In these kinds of cases, the new regulation imposes significant obligations on AI developers. They must comply with a range of requirements – from running risk assessments to ensuring technical robustness, human oversight, and cybersecurity – before releasing their systems on the market. Moreover, the AI Act bans all uses that clearly go against our most fundamental values. For example, AI may not be used for “social scoring”

or subliminal techniques to manipulate vulnerable populations, such as children.

Though some will argue that this high-level control deters innovation, in Europe we see it differently. For starters, time-blind rules provide the certainty and confidence that tech innovators need to develop new products. But more to the point, AI will not reach its immense positive potential unless end-users trust it. Here, even more than in many other fields, trust serves as an engine of innovation. As regulators, we can create the conditions for the technology to flourish by upholding our duty to ensure safety and public trust.

Far from challenging Europe’s riskbased approach, the recent boom of general-purpose AI (GPAI) models like ChatGPT has only made it more relevant. While these tools help scammers around the world produce alarmingly credible

AI’S ESSENTIALLY DUAL NATURE INFORMED HOW WE CHOSE TO DESIGN THE EUROPEAN ARTIFICIAL INTELLIGENCE ACT, A REGULATION FOCUSED ON THE USES OF AI, RATHER THAN ON THE TECHNOLOGY ITSELF: THE RISKIER THE AI, THE STRONGER THE OBLIGATIONS FOR THOSE WHO DEVELOP IT

phishing emails, the same models could also be used to detect AI-generated content. In the space of just a few months, GPAI models have taken the technology to a new level in terms of the opportunities it offers, and the risks it has introduced.

Of course, one of the most daunting risks is that we may not always be able to distinguish what is fake from what is real. GPAI-generated “deepfakes” are already causing scandals and hitting the head-

lines. In late January, fake pornographic images of global pop icon Taylor Swift reached 47 million views on X (formerly Twitter) before the platform finally suspended the user who shared them.

It is not hard to imagine the damage that such content can do to an individual’s mental health. But if applied on an even broader scale, such as in the context of an election, it could threaten entire populations. The AI Act offers a straightforward response to this problem. AI-generated content will have to be labeled as such, so that everyone knows immediately that it is not real. That means providers will have to design systems in a way that synthetic audio, video, text, and images are marked in a machine-readable format, and detectable as artificially generated or manipulated.

Companies will be given a chance to bring their systems into compliance with the regulation. If they fail to comply, they will be fined. Fines would range from €35 million ($37 million) or 7% of global annual turnover (whichever is higher) for violations of banned AI applications; €15 million or 3% for violations of other obligations; and €7.5 million or 1.5% for supplying incorrect information. But fines are not all. Noncompliant AI systems will also be prohibited from appearing on the EU market.

Europe is the first mover on AI regulation, but our efforts are already helping to mobilise responses elsewhere. As many other countries start to embrace similar frameworks – including the United States, which is collaborating with Europe on “a risk-based approach to AI to advance trustworthy and responsible AI technologies” – we feel confident that our overall approach is the right one. Just a few months ago, it inspired G7 leaders to agree on a first-of-its-kind Code of Conduct on Artificial Intelligence. These kinds of international guardrails will help keep users safe until legal obligations start kicking in.

AI is neither good nor bad, but it will usher in a global era of complexity and ambiguity. In Europe, we have designed a regulation that reflects this. Probably more than any other piece of EU legislation, this one required a careful balancing act – between power and responsibility, between innovation and trust, and between freedom and safety.

TECH TRENDS

ARE

YOU

READY FOR THE FUTURE?

Here we take stock of what technology has brought us in 2024 and what it has in store for us in the future. Digital transformation doesn’t end – it’s an ongoing process, and the breakthrough trends that made 2023 one of the most exciting years for innovation continue to reshape our world in many exciting ways

Machine intelligence, the blurring of the boundaries between the real and the virtual, and shaping the ongoing evolution of the internet will all radically impact our lives. But perhaps most important of all will be the search for ways to continue to grow and prosper while minimising the damage we do to the environment – and perhaps even reversing some of the damage that’s been done in the past.

So here’s the overview of these game-changing trends, along with pre-

dictions for how each of them will impact life, society and the planet.

Generative AI – Everyday Automation

Last year was the year that generative AI burst into the mainstream, while 2024 is the year that the world gets to grips with how truly powerful and useful it can be. Today, if you’re not a techie, just the phrase artificial intelligence (AI) can cause a shiver of fear – if you’re not worried about it taking over the world or destroying the human race, you might be

THE GENIE IS OUT OF THE BOTTLE, AND WHILE THERE ARE UNDENIABLE CHALLENGES AROUND ETHICS AND REGULATION THAT STILL HAVE TO BE SOLVED, 2024 WILL BE THE YEAR WHEN EVERYONE STARTS TO UNDERSTAND JUST HOW TRANSFORMATIVE GENERATIVE AI WILL BE TO OUR LIVES

nervously waiting for it to steal your job and make you redundant.

But as generative AI finds its way into more of the applications we use every day, from search engines to office software, design packages and communications tools, people will come to understand its potential. Used properly, it’s like having a super-smart personal assistant on hand 24/7, making us more efficient, faster and more productive.

Most importantly, by handing over our everyday menial brainwork – obtaining information, scheduling, manag-

ing compliance, organising ideas, structuring projects – to AI, we will find ourselves with more time to leverage our truly human skills. We will spend more time being creative, exploring new ideas and original thinking, or communicating with humans rather than programming machines. The genie is out of the bottle, and while there are undeniable challenges around ethics and regulation that still have to be solved, I believe 2024 will be the year when everyone starts to understand just how transformative generative AI will be to our lives.

Phygital Convergence

The real and the digital are becoming increasingly intertwined. Technologies like augmented reality (AR), virtual reality (VR) and the immersive internet are breaking down barriers between the physical world and the digital domains where we are spending more and more of our time. More so than ever before, we exist as digital avatars within virtual en-

science of genomics mean we can break down the fundamental essence of life into digital code, which can then be manipulated and rebuilt in the real world in order to engineer new medicines and eradicate diseases.

In 2024, we will continue to see less and less distinction between the real world and the virtual world. This means the digital is becoming increasingly realistic, and the real is becoming as flexible and malleable as the digital.

Sustainable Technology

Sustainable technology will continue to take centre stage during 2024, as countries and corporations continue to work on meeting net-zero commitments. At the same time, individuals will increasingly leverage technology in order to minimise their personal impact on the environment.

SUSTAINABLE TECHNOLOGY WILL CONTINUE TO TAKE CENTRE STAGE DURING 2024, AS COUNTRIES AND CORPORATIONS CONTINUE TO WORK ON MEETING NET-ZERO COMMITMENTS

vironments. This is true for work, where we collaborate remotely through platforms like Zoom, Teams and Slack, and play, where online gaming and e-sports are more popular than ever. We use social apps like TikTok and Instagram to create virtual spaces where we share moments from our “real” lives – curated and filtered to create digital personalities that become our virtual selves.

Across industries, we see this concept emerging in the form of the digital twin – a virtual representation of a real-world object, system or process. This could be as simple as an individual component or as complex as an entire city or even an ecosystem. Importantly, the digital twin is built from data captured from its real-world counterpart. Advances in the

Sustainable technology includes more environmentally-friendly ways of doing things we already do – such as the electric cars, bikes and public transport that continue to increase their market share in 2024. It also includes novel solutions to environmental problems, such as carbon capture and storage, as well as green and renewable energy technologies. The circular economy will become an increasingly important concept as durability, recyclability and reusability are built directly into products at the design stage. And the tech world will further embrace ideas such as green cloud computing, where infrastructure and services prioritise the reduction of energy consumption and carbon emissions and sustainable apps – software tools designed to help us live in a more eco-friendly manner.

ADVANCES IN THE SCIENCE OF GENOMICS MEAN WE CAN BREAK DOWN THE FUNDAMENTAL ESSENCE OF LIFE INTO DIGITAL CODE, WHICH CAN THEN BE MANIPULATED AND REBUILT IN THE REAL WORLD IN ORDER TO ENGINEER NEW MEDICINES AND ERADICATE DISEASES

Challenges that developers and users of sustainable technology must face during 2024 include a need to develop ethical and sustainable methods for sourcing and extracting materials needed for manufacturing devices, infrastructure demands created by changing consumer habits, such as the adoption of electric vehicles, and potential disparities between different geographic or socio-economic groups in their ability to access green alternatives. We are also becoming increasingly alert to the presence of greenwashing – superficial efforts intended purely to generate positive PR around a particular technology.

Quantum Computing

There’s been a growing buzz around quantum computing for a while now, and I believe 2024 will mark the year when this is set to transition to tangible benefits. Quantum computers are capable of carrying out vast numbers of calculations simultaneously by harnessing weird and wonderful elements of quantum physics, such as quantum entanglement and superposition. This enables them to operate using quantum bits (qubits) that can exist in multiple states simultaneously, rather than a state of either 1 or 0, like traditional computer bits.

Early investors in quantum technology include banks and financial services organizations that hope to be able to enhance the power of AI systems developed in recent years for purposes of fraud detection, risk management and high-frequency trading.

Quantum computing doesn’t speed up every job we use computers for, but in 2024, we're starting umest to see benefits as it’s applied across various compute-heavy fields, including medical discovery, genome sequencing, cryptography, meteorology, material science, optimisation of complex systems like traffic flows through large cities, and even the search for extraterrestrial life.

These are all fields that hold enormous potential for solving challenges facing us and our planet, and we will find out what breakthroughs will be achieved with the help of quantum computing in the near future.

CYBER RESILIENCE

Research suggests that one in two businesses has been the victim of a successful cyberattack in the past three years, and the cost of these attacks to industry is expected to grow to over $10 trillion by the end of 2024. In the face of this fast-growing threat, technology solutions designed to bolster defences and provide us with a fighting chance are high on every organisation’s must-have list.

Cyber resilience goes beyond cyber security, though, as it also encapsulates measures that can be taken to recover and ensure continuity when defences are breached or due to circumstances beyond our control. This might mean having remote working procedures in place to ensure businesses can function when staff can’t get to central locations – a technology solution that might not traditionally be considered an element of cyber security.

Automation of cyber defence through AI and machine learning, integrated frameworks that merge security measures with continuity protocols and awareness of societal factors from social engineering attacks to PR firefighting are all essential elements of any cyber resilience strategy.

Cyber threats are becoming more sophisticated, and competition to bring new solutions leveraging breakthrough technologies like AI to market is intensifying. This ensures that cyber resilience will become an increasingly prominent trend throughout 2024 across business and consumer technology.

IS BLOCKCHAIN A TRUST MACHINE?

Like all relatively recent innovations, blockchain networks have suffered from plenty of hype, scandal, and mistrust. But with the technology having demonstrated its functionality, robustness, and utility, it now just needs regulatory standardization and safeguards to bring the wider public on board

As the crypto winter thaws, and financial institutions renew their interest in digital assets, an old debate has re-emerged over whether blockchain is truly a “trust machine,” as The Economist described it in 2015.

A figure from fifteenth-century Venice can help answer that question. Though he was neither a technologist nor a banker, the friar Luca Pacioli is remembered today for developing the double-entry bookkeeping accounting system that underpins much of the modern economy. It was his ingenious model that introduced debits and credits to the method of recording transactions in two separate accounts.

This seemingly boring and cumbersome tweak to a core business function didn’t just ensure accuracy and curb fraud; it also gave owners new insights into how to run and improve their businesses and cut costs. Under Pacioli’s system, efficiencies soared, commerce accelerated, and the Renaissance took flight. Double-entry accounting became a cornerstone of economic activity because it was simple, easily shared, and undeniably useful. Centuries later, financial statements based on Pacioli’s work became mandatory for any business. Such is the power of a basic infrastructure upgrade.

The broader lesson is that an innovation that makes it from conception to global adoption typically passes three tests of public trust: Does it work? Is it useful? Is it safe? Or put another way, users expect competence, value, and reliability.

The underlying blockchain technology that Bitcoin’s creator(s) deployed builds elegantly on the foundation that Pacioli laid. Imagine if a fifteenth-century Florentine merchant’s ledger entry showed up instantly on the books of every other merchant. Such a distributed ledger creates triple-entry (or effectively infinite-entry) accounting, making the data immutable and incontestable.

That functionality alone is transformative, but the architecture of blockchain networks gives them superpowers well beyond financial applications.

After settling literally trillions of transactions, blockchain’s fundamental claim to facilitate the reliable exchange of value

has been well verified. Though it is little solace to those who lost funds during the industry’s implosions in recent years, those episodes reflected irrational exuberance and old-fashioned fraud, not any flaws of distributed-ledger protocols.

These failures were as predictable as they were regrettable. Excitement about emerging technologies typically outpaces their utility, leaving a wake of disappointments. Even the most promising technologies struggle with early design flaws. AI chatbots can hallucinate. Electric-vehicle batteries can fail in extreme cold or heat. New software is often buggy. And blockchain networks have not been fully immune to hacks and performance issues. But their battle-tested durability makes them well positioned to upgrade the way we move money.

What about usefulness? Fortunately, responsible market players today are using blockchain to do many other things: delivering mobile, corruption-resistant humanitarian aid to refugees; lowering the costs of charitable giving, remittances, and cross-border payments by 80%; expanding access to basic financial services; giving workers in high-inflation countries a portable store of value; establishing provenance to power the “creator economy”; transmitting money at scale with the ease, security, and speed with which the internet transmits data; and upgrading legacy financial rails that date back to the 1970s.

While still nascent, these applications undeniably deliver high social and economic value. That brings us to the third question: whether blockchain-based financial rails are safe –which, in financial services, means regulated. Can users expect common, high standards around the world? Not quite yet, but we’re getting close.

The good news is that 2024 is poised to bring greater regulatory certainty. Japan, Hong Kong, Singapore, and the European Union have all established strong standards and consumer protections for this growing ecosystem. And the US Congress could follow suit this year with bipartisan digital-asset and stablecoin legislation that would crack down on illicit financing and counterfeit digital currencies. That would make a material difference in public confidence.

By Josh Burek

Financing the Future

Nicolas Marquier Regional Manager for the Western Balkans at the International Finance Corporation (IFC)

IFC, the largest global development institution, has provided almost $1 billion in financing to Serbia’s private sector over the past six years

IFC, as a member of the World Bank Group, has provided Serbia and the broader region with significant advisory and capacity building support over the last decade. It now plans to ramp up its investments at this critical juncture, with a focus on regional integration and convergence towards EU accession.

IFC has just announced the financing of the construction of a large biomass power plant in Serbia. What major projects has IFC previously funded in our country?

— We have provided almost $1 billion in financing to Serbia’s private sector over the past six years. Notable projects include the Dolovo and Čibuk wind farms, Nikola Tesla Airport, the Vinča landfill and waste-to-energy plant, as well as various credit lines to the banking sector.

Several IFC advisory programmes have also been implemented in an effort to boost

Serbia’s socioeconomic development, with a focus on improving the country’s business environment, integrating SMEs into regional and global value chains, supporting the green transition and implementing new public-private partnerships.

Our most recent investment in Drenik, Serbia’s largest producer of tissue paper, will support the company in developing the country’s first large-scale captive combined heat and power biomass plant—boosting renewable energy generation and helping to reduce greenhouse gas emissions in Belgrade.

Almost 40 per cent of our investments in Serbia over the last six years were allocated for green projects

What percentage of IFC-funded projects are considered green projects?

— IFC is actively engaged in green finance activities, channelling investments towards environmentally sustainable projects and initiatives worldwide. In Serbia, almost 40 per cent of our investments over the last six years were allocated for green projects. We estimate that around $10 to $20 billion worth of investments in renewable energy generation and green buildings, infrastructure and transport could be financed profitably by the local banking sector over the next decade.

To what extent does IFC prioritise Environmental, Social and Governance (ESG) principles in selecting projects to finance?

— ESG principles have always been an IFC priority. Our ESG policies, guidelines and tools are widely adopted as market standards and embedded in the operational policies of corporations, investors, financial intermediaries, stock exchanges, regulators and countries. Investors are increasingly turning to sustainable investments to achieve both financial returns and a positive impact on people and the environment. Strong ESG practices also assist companies in improving their risk management, reducing costs, strengthening relationships with stakeholders and enhancing their reputation. In the long run, companies with good ESG practices are significantly more successful in their operations. In Serbia, IFC implements an Integrated ESG Standards Programme, in partnership with SECO, the Swiss State Secretariat for Economic Affairs.

What are the most significant projects in Serbia and the region that will be on the list of IFC priorities in the coming years?

— The World Bank Group’s Country Partnership Framework for Serbia for 2022–2026 has two main goals: greener and more resilient economic growth; and more inclusive services for citizens. As part of this strategy, we aim to help Serbia improve its competitiveness, connectivity and climate resilience. That will help the country seize the opportunities that lie ahead in the green transition, the regionalisation of manufacturing value chains in Europe and the digital transition.

IDedicated Advisors and Tenacious Litigators

Dr Ivan Todorović Todorović Law Firm

The Todorović Law Firm has existed for more than 30 years and throughout that time has demonstrated its unwavering dedication to continuously advancing at both the practical and academic levels

n addition to providing classic legal services, the team at Todorović Law specialises in sports law, immigration law and the increasingly popular field of environmental law, alongside nonprofit sectors, complex litigation and arbitrations. This firm prioritises close relationships with clients, showing an understanding for their needs, providing precise advice, reliability and high trustworthiness.

With your team of dedicated experts, you offer clients decades of experience, first-class legal advice and solutions etc.

— The Todorović Law Firm (AKT) comprises highly specialised experts who have amassed extensive experience in various legal and commercial fields, while they also speak multiple foreign languages, which provides us with the opportunity to serve a broader range of clients. Such a team is prepared to tackle the challenges posed by complex cases. Our firm’s lawyers are dedicated advisors and tenacious litigators. We carefully monitor both domestic and international practices and changes in the fields of commercial law and intellectual property rights, contributing through authored articles, books and active participation in professional conferences.

What helps your firm retain clients over the long term?

sure that we meet clients’ real-time needs. We approach cases on a “hands-on” basis, adapting our work to the situation at hand. Another quality we provide is our own research into any given area (e.g., technical aspect) of dispute, which often yields benefits. Moreover, if there is no existing case law in Serbia, we delve into foreign literature and practice to develop arguments for clients in a high-quality manner. Our comparative advantage lies in our in-depth expertise in several areas, such as the management of client relationships, and the ability to work in German.

Photo Vladimir Mirosavljević

Our comparative advantage lies in our in-depth expertise in several areas, our experience in Client Relationship Management and our ability to work in German

— We value a close relationship with clients, understanding their needs, providing precise advice, reliability and high trustworthiness. We strive to maintain friendly relations with clients, not just a corporate relationship that revolves rigidly around delivering results and advice. We additionally en-

Do these changing times demand adaptation and the constant exploration of new areas?

— The Todorović Law Firm possesses expertise in multiple areas, including intellectual property, commercial law, labour law, complex litigation and arbitrations, bankruptcy law, and residential and sports law. We have significant experience and numerous loyal clients in these areas. We strive to develop our knowledge and experience in line with corporate trends and needs, ensuring our offer reflects the real state and requirements of clients. We certainly keep an eye on market trends and conditions. This applies to sports law, where we are particularly active in representing disputes between players and clubs and agents and clubs. We are also involved in environmental law, which requires in-depth knowledge of relevant regulations. We are aware that disputes in environmental law can potentially cause significant damage to a commercial society. Our firm also has years of experience in providing immigration law services.

“We aim to promote best practices in advancing the green agenda through the project „Ekoopština“

Violeta Jovanovic Executive Director of NALED

Serbia’s EPS Records Historic Profit

The Assembly of the Public Enterprise ‘Electric Power Industry of Serbia’ (EPS) has approved the report on the implementation of the Consolidated Three-Year Business Plan for the period 1 January to 31 December 2023, revealing a record company profit of 114 billion dinars (nearly one billion euros). This financial outcome is unprecedented in the company’s history, marking a significant achievement for Serbia’s largest electric utility provider.

AIK Bank Acquires NDM Leasing

In a strategic move aimed at broadening its service offerings, AIK Bank, a prominent player in Serbia’s banking sector, has announced the successful acquisition of NDM Leasing. The acquisition heralds a new chapter for both entities, with NDM Leasing set to undergo a rebranding to AIK Leasing LLC Belgrade in the forthcoming period. Jozef Nađ, appointed as the Chairman of the Executive Board of AIK Leasing, brings to the table a wealth of experience spanning over two decades in leadership roles within the financial sector.

AstraZeneca Celebrates Inauguration of New Office in Belgrade

AstraZeneca, a global leader in healthcare innovation, marked a historic moment with its new Belgrade office’s grand opening. The event celebrated progress and legacy, as the company also commemorated the 25th anniversary of the merger between Swedish Astra and British Zeneca. This pivotal milestone reshaped the landscape of healthcare worldwide. The inauguration ceremony, held with great enthusiasm and dedication, brought together esteemed guests, partners, experts, patient association groups, and trade associations.

“DDOR BG Car Show has 30 car brands presenting 34 premieres and 22 motorcycle brands with 52 premieres”

Aleksandra Djurdjevic CEO at Delta Auto

Nelt Partners with EUSPA on SPATRA Project

Nelt has announced its participation in the SPATRA project, a collaborative initiative with the European Union Agency for the Space Programme (EUSPA) to revolutionise transport monitoring and management using satellite technology. This two-year project aims to leverage European satellite innovations to enhance road and rail transport, logistics, and vehicle and drone positioning, improving the efficiency and sustainability of transport across Europe. As part of a consortium including OHB (Germany), Twist Robotics (Ukraine), and Zentrix Lab (Estonia and Serbia), Nelt is developing an application to predict border crossing times and truck parking availability, facilitating smoother transport operations.

SCCI Launches AI-Powered BizChat for Business Intelligence

In a groundbreaking move at the Kopaonik Business Forum, the Serbian Chamber of Commerce (PKS) unveiled BizChat, an innovative digital service powered by artificial intelligence. This platform is designed to revolutionise how businesses access vital information, offering round-the-clock, real-time insights into various business-related queries. From details on chamber services, market analyses, operational conditions, and investment opportunities to labour market potentials and educational system insights, BizChat promises a seamless and efficient information gateway for entrepreneurs and companies alike.

Su Yongding Appointed as New General Director of Serbia Zijin Mining

In a significant move that marks a new chapter for Serbia’s mining industry, the Serbia Zijin Mining company has announced the appointment of Su Yongding as its new General Director. This development comes as part of a strategic decision by the Zijin Mining Group, which underscores the importance of the Serbian operation within its global portfolio. Before ascending to the helm of Serbia Zijin Mining, he served as the Executive Director of the same company, showcasing his intimate understanding of the operation’s intricacies and its significance to the broader mining landscape in Serbia.

Children Deserve the Best Nannies

Marija Stojiljković Founder, Royal Nanny

Royal Nanny offers a wide range of childcare services, primarily through mediating between professional nannies and families, providing responsible, meticulous, trained and caring individuals

Starting from the idea that childcare is literally the world’s most responsible job, our interviewee has created a unique concept that didn’t previously exist on our market. She has transferred her vast experience into this concept and assembled a team of experts to help her provide trustworthy caregivers for every child and family.

Could you tell us more about your unique Royal Nanny method and the services you offer?

— The family is the main and fundamental unit of society, but today it faces numerous challenges that weren’t previously present to such an extent. Parents have an increasingly difficult task in raising their children safely and free of worry. We recognised this and created an integrative concept in which our team members are educated using the special “Royal Nanny” method. We provide daily nanny services for four, six and eight hours, live-in nannies and governesses. In addition to qualifications, there is also a set of specific skills that are ideal for a particular family to align with all parenting principles and the needs of children. That includes professionalism, but also love for the job, without which it cannot be done.

The next Royal Nanny Academy will launch on April 1st this year, and we truly invite all interested parties to apply through the form available on our website. The Royal Nanny Academy equips our nannies with additional knowledge and tools for work and advancement in the field of childcare, through a series of advanced training sessions intended both for those striving to become Royal Nannies and those who already are.

We build a system in which we take care of children and support parents through education and the availability of numerous experts in the field of child development

Do families trust you?

— Every child deserves a carefree and joyful childhood, and Royal Nanny connects highly with precision trained nannies with families that need this kind of support. Our clients know that they receive childcare ac-

cording to the standard of the Royal Nanny Academy and that our caregivers are responsible, focused, meticulous and professionally trained. We build a system in which we take care of children and support parents through education and the availability of numerous experts in the field of child development.

Given the pressure and stress that parents are exposed to today, they can find a truly reliable partner in our nannies, much more than just someone who will “babysit” while parents take care of their obligations. That is why Royal Nanny is synonymous with a family, a safe and warm nest that we nurture together with parents and children.

Although the initial idea is yours, and despite your vast experience being embodied in Royal Nanny, you have an entire team of experts who help you provide every child and family with a trustworthy caregiver behind you.

— Early childhood development has been in increasing focus in recent years, coupled with work on capacity building and resilience in children, as well as their free play and creativity. We work together with parents to create a stimulating environment and focus on the emotional, cognitive and social development of each child, recognising children’s individual talents at the earliest age.

Our entire team of eminent experts is there to support nannies at all times. Through consultations with families, they are tasked with maintaining the quality of work and parents’ satisfaction, with the aim of raising a happy, stable, free and healthy child.

Employees are the Company’s Real Strength

Petar Miljković CEO, 14. Oktobar d.o.o.

This former Kruševac giant, which has come a long way over the course of 100 years of operations, developing from a construction machinery factory to a military industry plant, experiencing ups and downs, renovations and new partnerships, now once again finds itself in the company of the most successful

It was seven years ago that company 14. Oktober became part of Czech holding company CSG International, which brought modernisation to production facilities, as well as major investments in equipment and personnel. Thanks to its dedication, top quality, innovation and adaptability, they have sold all products three years in advance.

We know what 14. Oktober once was, but what is it today?

— Our company has been transformed from a construction machinery plant into a multipurpose and military equipment factory. We have achieved a dramatic turnaround and started working on multiple fronts, and we are extremely proud that we’ve placed an emphasis on our employees. Over the course of just a year, 14. Oktobar went from a company that struggled to find workers to one of the most desirable employers in Kruševac and the surrounding area. We have paid great attention to our working conditions, salaries, the development of personnel and their career plans, introduced lean and kaizen methodologies, and improved communication with employees among managers and team leaders. We carry out constant training courses and invest a lot in the development of people, and we will continue to do so, because people represent the first pillar of our success, while the second pillar is undoubtedly automation and digitalisation.

We will be among the first 10 companies in Serbia to have an Industry 4.0 standard factory, which implies integrating intelligent digital

technologies into industrial and production processes. This means that all processes will be digitalised, that all norms, results and current conditions will be instantaneously available to planners and managers, thus managing processes will be made faster and much more efficient. When we add to this the fact that certain modules will be managed by artificial intelligence, you get the picture of where we want to be a year from now.

This also helped us to make an impression on parent company CSG, which was impressed by what we’ve achieved with our pilot project, which will encompass the entire factory and almost all processes in it over the next few months.

It was seven years ago that your factory was acquired by CSG International. What did that bring?

— The mere fact that 14. Oktober entered into a partnership with one of Europe’s largest manufacturers of equipment and weapons testifies to the good potential of our factory, while current results show that we’ve utilised that potential. In January we received the last of 12 CNC lathes, while we’ve also re-

ceived approval to procure another 14 CNC machines. This investment will have a combined total value exceeding 2.5 million euros, and we hope to realise everything by the end of the year. A new fully automated paint shop was recently made operational, and by year’s end we will be looking for another such machine to be delivered, as well as a machine for washing and phosphating grenade casings.

This will be accompanied by the hiring of new staff, so our team will be enriched with approximately 20 new workers.

The military segment of the factory functions excellently. How about the civilian part?

— The war in Ukraine brought additional work to the arms industry, and that includes our factory. As far as our military part is concerned, all products are sold out three years in advance, but we aren’t neglecting the other segment of our operations. Our civilian part, in which we manufacture wagon parts for a foreign partner, is growing from year to year, and we are awaited by the signing of a contract with a domestic company for which we will produce machine circuits.

We are very proud that we’ve managed to attract 20 welders who possess all the necessary licenses and procure the latest welding machines and an ABB robot, while we are also planning to purchase another. We have some other development projects that we are concluding, while in parallel we’re investing a lot in the development and certification of these guys, who represent the real strength of our company.

CSR: Key to Business Success

Corporate Social Responsibility (CSR) has emerged as a crucial element in the business strategies of modern companies. As consumers and investors increasingly demand greater transparency and responsibility, CSR has transitioned from being a ‘nice-to-have’ to an essential component.

Climate change represents a significant challenge, and there is growing recognition among companies of their responsibility to mitigate environmental impacts. Numerous businesses have set ambitious targets to reduce their carbon footprints, investing in renewable energy sources and sustainable practices.

The importance of promoting social justice and equality is also increasingly acknowledged. Steps are being taken to address issues such as diversity and inclusion, fair employment practices, and human rights within operations and supply chains.

Ensuring ethical and sustainable practices throughout the supply chain is becoming a business priority. Many companies are implementing traceability and transparency measures to ensure their suppliers meet environmental and social standards, recognising the significant impact their

supply chains can have on the environment and society.

The understanding that dedicated employees are crucial to success has led companies to invest in well-being programmes, training, and professional development, aiming to cultivate a positive work culture. In the dynamic business environment, investing in employees enables them to acquire new skills, giving the company a competitive edge. Training and development also act as a motivational tool for employees, leading to job satisfaction.

The role of technology in CSR is expanding, with data analysis aiding companies in measuring and monitoring their environmental and societal impact

In conclusion, investing in education benefits not only employees but also significantly impacts a company’s overall success and sustainability. It fosters a culture of flexibility, advancement, and innovation, positioning the organisation to thrive in the current dynamic business landscape.

Companies that recognise the value of education are likely to flourish and lead in their respective industries, while also contributing to the societal goal of knowledge dissemination and skill development.

The role of technology in CSR is expanding, with data analysis aiding companies in measuring and monitoring their environmental and societal impact. Blockchain technology improves the transparency and traceability of the supply chain, facilitating ethical practices across the board. Future innovations may include the use of artificial intelligence and machine learning to iden-

tify and tackle social and environmental issues.

Engaging with stakeholders, such as customers, employees, and local communities, is essential for the success of CSR initiatives. Companies understand the importance of listening to and collaborating with these groups to ensure their CSR efforts are relevant and impactful. Going forward, there may be an even greater focus on stakeholder engagement, utilising technology and innovative tools to enhance communication and collaboration.

In the banking sector, CSR plays a unique role, with financial institutions increasingly recognising their impact on economic stability, environmental sustainability, and social welfare. Banks are adopting responsible lending practices, supporting projects that promote environmental conservation, renewable energy, and sustainable development goals. This approach reduces financial risks associated with climate change and positions banks as pivotal in the global shift towards a greener economy.

Additionally, banks are reinforcing their commitment to financial inclusion, developing tailored products and services for underserved populations to improve access to banking. This includes microfinance initiatives, digital banking solutions for remote areas, and financial literacy programmes aimed at empowering individuals and communities.

As part of their CSR strategies, banks are also emphasising ethics and transparency, with robust governance structures in place to combat corruption, money laundering, and other financial crimes. This commitment to ethical practices builds trust and loyalty among customers

The role of dedicated employees in achieving success is well understood, leading to investments in well-being programmes, training, and professional development to foster a positive work culture

and stakeholders, contributing to long-term success.

By embedding CSR into their core operations, banks not only enhance their reputational capital but also drive positive change in the communities they serve, showing that financial success and societal well-being are interconnected.

Governments and regulatory bodies are increasingly enforcing environmental and social standards. Many countries have introduced laws requiring companies to disclose their environmental and social impacts. In the future, we may see stricter regulations regarding CSR, with companies facing penalties for failing to comply with specific standards.

Companies that prioritise CSR and adapt to these trends are better positioned to succeed in an increasingly competitive and socially-aware business environment. By staying ahead of these trends and engaging with stakeholders to ensure their efforts are relevant and impactful, companies can establish themselves as future leaders in the realm of CSR.

CSR as a Longstanding Priority

Ivana Bogdanović Director of Marketing and Corporate Communications at Addiko Bank

In today’s world, where gaining the trust of clients is the most important aspect of a company’s business, CSR, or socially responsible operations, represents an important benefit for a financial institution. CSR is a longstanding priority and not merely a good PR opportunity

In addition to establishing, nurturing and reinforcing relations with the community in which a company operates, CSR also provides an additional benefit, because the CSR programmes implemented by a company enable participating employees to strengthen their sense of belonging to their work environment, given that they are participatin up the reputation of the company together with colleagues with whom they share not only work obligations, but also the same values and goals.

Today’s clients are intelligent, but also sceptical, which is why they can quickly grow suspicious, lose trust and turn their back on a brand. Consumer trust is also important for building lasting relationships, reducing the departure of clients and even improving the ability to offer personalised services and solutions that work to fortify those relationships.

Through the careful selection of the CSR projects that we invest in and support, Addiko Bank strives to demonstrate to the community in which we operate that we really want to contribute to its healthy development.

Although many consider CSR as implying grandiose investments, at Addiko Bank we pay more attention to smaller, local organisations. In terms of the projects that we support, we always take care to ensure that they suit our values. That’s why we focus on those that use their positive example to encourage others to do good deeds, such as the Race for the Cure event and BELhospice’s 8th March bowling tournament, as well as

Only through longterm support for smaller, primarily local projects can a company demonstrate its commitment to its local community, because that’s how we build bonds that are difficult to break and ensure open communication and direct connections with clients, but also future employees

organisations that address a specific problem in society, such as the Drinka Pavlović Home for Children and Youth, the Naša Kuća [Our House] Association and humanitarian organisation Dečje Srce [Child’s Heart] and those that call for social cooperation, such as the environmental cleaning campaign Zavrni rukave [Roll up Your Sleeves] or the project Čep za Hendikep [Bottle Cap for the Disabled], but also those that support the development of entrepreneurship, such as social enterprise Radanska Ruža [Radan Rose] or that demonstrate how focused we are on our clients, such as the campaign Ne pecaj se [Don’t Phish Yourself], which we launched in 2023 to highlight the many dangers lurking on the internet to all Serbian citizens. These are just a few of the CSR activities that we believe in sincerely and want to support because we consider that they genuinely contribute to developing our society – a society that we want to watch our children grow up in as we grow old.

I believe that it is only through long-term support for smaller, primarily local projects that a company can demonstrate its commitment to its local community, because that’s how we build bonds that are difficult to break and ensure open communication and direct connections with clients, but also future employees. This is a form of trust that’s nurtured and worked on in order to be deepened and preserved. And I think that, in the eight years that Addiko Bank has been present in Serbia, we have succeeding in showing and proving that we don’t merely view CSR as an item that we have to tick off a list or a good PR opportunity, but rather that we take it seriously and rank it among our top annual and long-term priorities.

“The most successful business result of 9 million EUR was achieved last year”

Velizar Kaluđerović

The President of the Board of Directors of the IRF

Atlantic Grupa Acquires Strauss Adriatic

In a significant move poised to reshape the coffee industry landscape in Southeast Europe, Atlantic Grupa has announced the completion of its acquisition of Strauss Adriatic on 1st March. The deal brings under its wing the esteemed Serbian coffee brands Doncafe and C kafa, joining forces with the regional coffee leaders Grand kafa and Barcaffè within its expansive portfolio. The acquisition includes a state-of-the-art manufacturing facility in the Šimanovci industrial zone near Belgrade and 220 employees. This strategic move has received conditional approval from the Serbian Commission for the Protection of Competition, marking a significant milestone in Atlantic Grupa’s growth trajectory.

Adriatic Metals BiH Achieves Ore Concentrate Milestone in Vareš Project

Adriatic Metals BiH has achieved a significant milestone in the mining industry of Bosnia and Herzegovina with the production of the first ore concentrate within the Vareš Project, heralding a new era of mining operations in the region. The Vareš processing plant is set to ramp up its capacity gradually over the coming months, targeting a nominal processing capacity of approximately 65,000 tonnes per month by the fourth quarter of 2024. Paul Cronin, the CEO of Adriatic Metals BiH, shared his enthusiasm about this pivotal achievement: “I am thrilled to announce another key milestone reached with the production of the first concentrate at the Vareš Project.”

Ivo Usmiani Crowned Croatia’s Entrepreneur of the Year by EY

Usmiani was honoured at the EY Entrepreneur of the Year, Croatian segment, for his outstanding contributions to the business sector. Chosen from a pool of 33 contenders representing 28 notable domestic companies, he emerged as one of the top seven finalists among five distinguished firms. This recognition underscores his enduring influence in the pharmaceutical sector, exemplified by his founding of JGL Grupa, the first private pharmaceutical joint-stock company in Croatia, in 1991. Usmiani’s leadership has propelled JGL Grupa to its current global stature, solidifying his position as a key figure in the industry.

“Trade exchange between Slovenia and Poland reached nearly 3 billion EUR in 2022”

Rok Capl Director of SPIRIT Slovenia

Fortenova Group Awarded Regional ESG Leader Prize

In a remarkable recognition of corporate excellence, Fortenova Group d.d. has been conferred with the prestigious Golden Award and the title of “Regional ESG Leader” for the year 2023 by the International Economic Forum “Perspectives” and the Society “Promo Global.” The accolade, bestowed upon the company in the category of Overall ESG Achievements, underscores Fortenova’s unwavering commitment to environmental, social, and governance (ESG) principles amidst stiff competition from major enterprises across Central and Southeastern Europe. The awards, spanning four categories encompassing environmental stewardship, societal impact, ethical governance, and comprehensive ESG accomplishments, were presented to outstanding entrepreneurs and companies.

Mayweather Sets Sights on Montenegrin Shores for Investment

In a striking turn from the boxing ring to the boardroom, Floyd Mayweather, the pugilistic virtuoso with an unblemished record, has cast his financial gaze towards the scenic vistas of Budva, Montenegro. According to a recent discussion with “Vijesti,” Mayweather, inspired by the longstanding recommendations of his acquaintances Jakov Zorja and Haim Mizrahi, is exploring substantial investments in the local hotel, tourism, and real estate sectors. Mayweather discussed the region’s allure, citing the exceptional beauty of Montenegro, the congeniality of its people, and the enticing local atmosphere as key motivators for his investment decision.

Albania Energises Future with First Lithium Ion Battery Plant

In a strategic move to catalyse Albania’s energy independence journey, Vega Solar partnered with Sainik Industries – Getsun Power, heralding the construction of the nation’s inaugural lithium-ion battery factory. This pioneering project, announced amid the backdrop of an Indian-Albanian business forum in New Delhi, signifies a major leap forward in Albania’s energy transition narrative. With an impressive projected annual capacity of 100 MW, the facility is poised to play a crucial role in stabilising the country’s renewable energy output. This venture marks a crucial step towards diversifying Albania’s energy portfolio.

Potential Promising

Serbia is a leader of the Western Balkan region when it comes to food production. With a good strategy and increased investments, it could even compete with major European players in the agricultural sector

Our country is fertile and has a favourable climate. It provides ideal conditions to produce high-quality agricultural products – fruits, vegetables or meats – and thus to open new food factories. Now is the right time to harness all these potentials as quickly and effectively as possible.

Although it has been emphasised for decades that agriculture is our biggest opportunity, with almost all prime ministers promising in their exposés that the development of agriculture and the food industry would be a priority, Serbia has not progressed much beyond those promising pledges. Agriculture has never become a strategic sector, nor has industrial food production been included among the sectors

for which we have high hopes. And given that the focus in the coming period will be on the EXPO 2027 project, Serbia risks further neglecting its rural areas.

YIELDS DEPEND ON ECONOMIC POLICYMAKERS

If there’s something good amid all the bad, it’s here: our land is fertile, the climate is favourable, and pollution in rural areas is negligible, providing ideal conditions for producing natural and healthy agricultural products, whether it’s fruits, vegetables, or meat. In addition to the natural conditions for advancing agriculture, other conditions are needed that depend on those who make and implement the country’s economic policy; those who should ensure that the agricultural budget is not less

than 5% and that subsidies for farmers are stimulating and timely.

Although the situation is far from ideal, and even though Serbia currently produces 200,000 tons less meat per year than it did in 1990 and that young people are abandoning rural areas, some data provide room to hope for better days. Among the positive aspects is the fact that we have 16 specialised institutes, four universities and 26 secondary schools focused on food and agricultural production, which means that we could have enough experts – provided they don’t leave the country.

It’s also good that Serbia, according to official comparative data, is a food production leader in the Western Balkan region.

Our export results, as well as foreign currency inflows, would be significantly higher if we exported more processed foods and derivatives instead of fresh fruits, vegetables and grains

FOOD EXPORTS GROWING YEAR ON YEAR

Despite the many challenging circumstances, including the pandemic, energy crisis and wars, we have been experiencing continuous growth in exports of agricultural products for the past several years. With a total of four billion euros in gross exports, the food industry boasts the country’s highest gross exports, showing consistent growth and the greatest potential for further expansion.

We are among the world’s top five countries when it comes to the production of raspberries, plums and cherries. In Europe, we are among the top five producers of blueberries, strawberries, blackberries, soybeans and corn, and the top 10 European exporters of corn and sunflower. Regarding exports, in 2020 Serbia exported, for example, the freshest apples, soybeans, cheese, peaches and nectarines, pet food, fruit seedlings, fresh strawberries, frozen fruit, raspberries and blackberries.

WE ALSO HAVE ACCESS TO THE VAST RUSSIAN MARKET

Regardless of our excellent export results, it cannot be ignored that our results – and even foreign currency inflow – would be significantly higher if we exported more processed foods and derivatives instead of fresh fruits, vegetables and grains. There is great potential to invest in the processing industry, especially given that our country has a huge raw material base and can simultaneously place the products of our food industry on the Russian market. Thanks to a unique preferential trade agreement with the Russian Federation and duty-free exports to that market of over 140 million inhabitants, our products are inherently more competitive than other imported products. Our food products are also valued and recognised as high-quality, partly due to tradition.

Among the guardians of our tradition are some companies that gained a worldwide reputation and fame back in the days of the former Yugoslavia, such as Carnex Vrbas, Frikom, Industrija mesa Tolopa, Bačka Topola, Vital and Aleva. However, there are also new pillars, like Zlatiborac, Nektar, Fresh&Co and Baby Food Factory. Thanks to quality raw materials, proven recipes and state-ofthe-art production and technological processes, they are able to offer healthy, tasty and high-quality food to both domestic and international markets.

DEMAND FOR PLANT-BASED AND BABY FOOD IS GROWING

As an example of the tracking of growing needs, Nestlé found itself ceremonially opening a new plant to produce plant-based meals at the end of February, alongside its existing factory in Surčin. The new factory, which received an investment of 80 million Swiss francs, will produce nutritionally rich and delicious plant-based meals that are increasingly in demand on our domestic and international markets. It is also noteworthy that, in addition to bringing additional foreign currency inflows to our country, Nestlé has provided an additional 220 jobs at the factory.

Investments in food production certainly pay off, especially when finding a niche that isn’t well “covered”, as demonstrated by the example of the Baby Food Factory, where an investment of 34 million euros was made. In just a few years of operations, they have achieved excellent results. For example, theirs is the fastest-growing brand in the baby food category in Serbia. The company’s market share is increasing constantly, along with growing interest among customers in Europe, Africa and Asia.

Nothing is surprising about this, given that we have the raw materials, the tradition and the knowledge. The only strange thing is that we aren’t utilising it all to a greater extent.

Dedicated to Quality, Innovation and Taste

Despite being in its infancy, the Baby Food Factory has already become synonymous with quality and healthy nutrition for all generations. With the Nutrino brand, it has achieved a more than 30% share on the domestic baby food market and has entered over 20 countries

We worked hard to achieve this result. We hoped for it, but we didn’t expect such good results so quickly. This is proof that the market needed something new in the baby food category, where we contribute the most to the growth of the category,” says CEO Nikolovski, before emphasising that he will continue working to improve and grow the company, in order for it to remain a leader in its categories.

Your success is based on quality. Is that why you insist on the highest quality raw materials and the latest technologies for preparing your products?

— Absolutely! Quality is the foundation of our business philosophy at the Baby Food Factory. Product quality isn’t only essential to ensuring the satisfaction of our consumers, but also represents an obligation imposed on manufacturers of infant food by regulatory bodies. The quality approach that we must satisfy in making food for newborns is something that we also transfer to our other brands: Nutrino Junior and Nutrino Lab.

The careful selection of raw materials is one of the key factors contributing to the high quality of our products. We insist on only the highest quality raw materials, and

Nenad Nikolovski CEO, Baby Food Factory d.o.o.

that includes the fruits and vegetables that we source from certified growers. This practice enables us to ensure our products’ consistent quality and freshness.

Could it be said that both Nutrino and Nutrino Lab have exceeded your expectations?

— Nutrino has been the leader in the children’s food category for two years already. Our commitment to high quality, innovation and carefully conceived recipes and flavours has allowed us to gain the trust of parents around the region. The speed at which this brand has grown and reached the number one spot is something truly unconventional for FMCG brands today. We worked hard to achieve this result, we hoped for it, but didn’t expect such good results so quickly. This is certainly proof that these markets needed something new in the baby food category.

On the other hand, Nutrino Lab offers a relatively new form of healthy snack that has quickly become sought-after among consumers wanting options that are convenient, yet nutritionally rich. Considering current trends in the development of healthy food, we knew that this product would be a hit. Despite our concern over how consumers would react to this new form of snack, they embraced the brand incredibly quick-

ly and made it an indispensable part of their healthy habits.

Both the Nutrino and Nutrino Lab brands have exceeded our expectations, but we are continuing to strive to improve and grow continuously, in order to remain leaders in our categories. It is important to note that the accelerated growth of our brands comes not only from market share, but also from our influence on the growth and creation of these categories themselves.

How would you explain the success of the new Nutrino Junior brand, which is intended for preschool children?

— The growth in the popularity of “on the go” food has had an extremely positive impact on our operations, and the Nutrino Junior brand’s launch is an excellent example of how we’ve recognised relevant consumer insight and responded to the needs of modern families. Nutrino Junior was created with the objective of providing healthy and tasty meals for preschoolers, as a response to the demands of parents seeing healthier options for their children, while children themselves want tasty and colourful sweets. This brand has been embraced enthusiastically on the market, which clearly shows that this is a trend that we’ll continue to monitor and work on.

“We’re oversubscribed with about US$2.4 billion buyer side demand”

Melanie Perkins CEO of Canva

US Leads Global Oil Production for the Sixth Consecutive Year

According to the US Department of Energy, the United States has maintained its position as the world’s leading oil producer for the sixth year in a row, with an average daily output of 12.9 million barrels. In a remarkable achievement, crude oil production in the US reached a new monthly high in December 2023, surpassing 13.3 million barrels per day, as the Energy Information Administration (EIA) reported. The EIA’s statement highlighted, “For the past six years, the US has consistently outpaced all other countries in crude oil production. It is unlikely that any other nation will surpass this record in the near future.”

Gold Prices Soar to Record Highs

Old prices have surged to unprecedented levels, continuing a bullish trend as central banks globally amass gold bars at record rates. Experts suggest that the price of gold could climb even further, potentially reaching $2,300 per ounce in the latter half of 2024. According to a statement to CNBC, this projection aligns with expectations of the U.S. Federal Reserve’s potential easing of interest rates, according to Akaš Doši, North America commodity research head at City. Currently trading at $2,203 per ounce, gold’s valuation inversely correlates with interest rates. As rates decline, gold’s allure strengthens against fixed-income assets like bonds, which are likely to yield lower returns in a low-interest environment.

Australia Plans 15% Tax on Multinational Companies

Australia plans to introduce a 15% corporate tax on multinational companies. The government announced this measure to ensure that companies operating in this resource-rich country contribute fairly to state revenue. The government hopes that the new rules will come into effect by July. “Multinational companies making significant profits in Australia should also pay taxes in Australia,” said Finance Minister Jim Chalmers while announcing the new rules. These new taxes could have a significant impact on the operations of major mining and energy companies. Australia is one of the largest exporters of oil and coal and the world’s largest exporter of iron ore.

“Dark times are really fertile ground for change”

Sara Blakely Founder if SPANX

French Parliament Votes on Anti-Pollution Measures for Fashion Industry

The French Parliament has passed measures against fast fashion and textile industries polluting the environment. The French parliament has endorsed a series of measures that will make cheap, so-called fast fashion items, particularly from Chinese mass producers, less accessible in the market, making it the first set of such legal norms in the world. Key measures include a ban on advertising the cheapest textiles and an environmental tax on inexpensive items, especially those imported that have flooded the French market and led several domestic brands to declare bankruptcy. The main arguments emphasised by the bill’s proponents, however, are not economic but environmental, as the textile industry is among the major polluters of the environment.

Germany Records €2.29 Billion Electricity Trade Deficit

According to local media citing regulator data, Germany recorded a deficit of 2.29 billion euros in electricity trade last year. The strongest European economy imported 54 terawatt-hours of electricity worth 5.7 billion euros and exported 42 terawatt-hours for 3.5 billion euros, resulting in a negative electricity trade balance for the first time in several years. Imports in 2023 covered 11% of Germany’s consumption and lowered prices. In other words, electricity was imported because it was cheaper abroad. Berlin plans to produce electricity solely from renewable sources by 2035.

Bitcoin Surpasses $71,000 for the First Time in History

The most popular cryptocurrency, Bitcoin, was valued at over $71,000 for the first time in history. The surge in Bitcoin’s price has raised its market capitalisation to $1.40 trillion, and its value has grown by over 67% since the beginning of this year. This development follows the approval by the US Securities and Exchange Commission in early January for trading the first Bitcoin exchange-traded funds (ETFs) on the stock exchange. There are numerous optimistic forecasts for further growth in the value of Bitcoin, including those predicting that its value will surpass the $100,000 mark.

Salesforce’s Visionary Leader Revolutionizes CRM

Marc Benioff CEO of Salesforce

From Teenage Programmer to Tech Philanthropist, Benioff Shapes the Future of Business and Charity

Marc Benioff, the CEO and founder of Salesforce, emerges as a colossus in the technology domain, celebrated for his groundbreaking vision and philanthropic endeavours. Born on 25 September 1964 in San Francisco, California, Benioff’s foray into the tech world commenced remarkably early. Exhibiting a keen interest in computing from a tender age, he crafted his inaugural application, “How to Juggle,” at merely 15, which he then sold for $75. His entrepreneurial flame was kindled during his adolescence when he established Liberty Software, crafting and vending games for the Atari 8-bit system.

Benioff’s academic odyssey took him to the University of Southern Cal-

Under Benioff’s stewardship, Salesforce transformed from a fledgeling startup in a rented flat to a global juggernaut

ifornia, where he graduated with a Bachelor of Science in Business Administration. Following his graduation, he joined Oracle Corporation, swiftly climbing the corporate echelon to become the youngest vice president in the history of the company. His 13-year tenure at Oracle was distinguished by notable achievements and invaluable learning experiences, setting the stage for his future ventures.

In 1999, Marc Benioff launched Salesforce, a company destined to revolutionise the software industry with its avant-garde cloud-based customer relationship management (CRM) service. Salesforce’s business model, which shunned traditional desktop software in favour of applications hosted on the internet, was revolutionary. This paradigm not only rendered CRM software more accessible but also more economical and scalable for businesses of varying sizes.

Under Benioff’s stewardship, Salesforce transformed from a fledgeling startup in a rented flat to a global juggernaut, consistently lauded among the most innovative companies worldwide. The firm’s meteoric rise has been fuelled by ceaseless innovation,

Marc Benioff with Salesforce staff

forays into new markets, and strategic acquisitions, including the noteworthy purchases of MuleSoft, Tableau, and Slack.

Beyond his business prowess, Marc Benioff is equally acclaimed for his commitment to social responsibility and philanthropy. He champions the “1-1-1 model,” advocating for companies to donate one per cent of their equity, one per cent of their products, and one per cent of their employees’ time to charitable causes. This model has galvanised countless other corporations to adopt similar philanthropic practices.

Benioff’s influence also extends to his advocacy for the ethical use of technology, environmental conservation, and corporate activism. He has been an outspoken supporter of climate action and addressing income

inequality. His leadership style, characterised by empathy, inclusivity, and a focus on community, establishes a benchmark for modern corporate leadership.

Marc Benioff’s journey from a young software enthusiast to the CEO of one of the world’s most influential tech companies is a testament to his visionary leadership, entrepreneurial spirit, and unwavering commitment to effecting positive change in the world. His lega-

His leadership style is characterised by empathy, inclusivity, and a focus on community

cy encompasses not only the transformation of the CRM industry but also the shaping of a more equitable and sustainable future through technology and philanthropy, embodying the ethos of British diligence and innovation in every endeavour.

Marc Benioff with Emannuele Macron

THE FUTURE OF WORK IS EMPLOYEE WELL-BEING

Modern workplaces must shift from being office-centric to being human-centric, with a focus on flexibility, employee well-being, and sustainability

We are now in the post-pandemic work age, where everything has taken a 360 degree turn.

Employee expectations and ambitions are changing, providing an opportunity for company leaders to rearrange their workplaces for the future. Modern workplaces must shift from being office-centric to being human-centric, with a focus on flexibility, employee well-being, and sustainability.

While coworking spaces have traditionally been associated with urban cities, the industry is set to expand beyond these areas in 2024. With the rise of remote work, workers are increasingly seeking flexible workspaces that are closer to their homes, in suburban or cities. Coworking spaces that offer more accessible and affordable options in these areas are likely to see increased demand. Lower rental rates and the availability of reputable shared-working spaces with contemporary infrastructure, tech-enabled facilities, and amenities are driving demand and development in cities.

The use of technology in coworking spaces is likely to become even more widespread in 2024. Coworking spaces will need to provide fast and reliable internet access, as well as other tech-enabled amenities such as video conferencing equipment and smart whiteboards. Some spaces may also incorporate augmented or virtual reality technology to enhance collaboration and productivity. Digitally enabled workspaces provide flexibility for both large and small firms, allowing them to easily adapt to changing workplace cultures while re-

ducing business impact. The modern workplace is being transformed by technologies that increase communication, collaboration, improve data security, integrate teams, and give virtual assistance.

As the importance of sustainability continues to grow, coworking spaces are likely to place an increased emphasis on environmentally conscious practices. This could include everything from green building practices to reduced energy consumption and eco-friendly features, such as solar panels, green roofs, and energy-efficient lighting. As per a recent survey almost 75% of companies say that their employees expect their workplace to have a positive impact on society. Coworking spaces that prioritize sus-

COWORKING SPACES THAT PRIORITIZE SUSTAINABILITY ARE LIKELY TO ATTRACT WORKERS WHO ARE COMMITTED TO ECOFRIENDLY PRACTICES

tainability are likely to attract workers who are committed to eco-friendly practices, as well as companies that are focused on corporate social responsibility.

As workers continue to prioritize their health and well-being, coworking spaces are likely to place an increased emphasis on wellness offerings. This could include measures such as improved air filtration systems, enhanced cleaning protocols, and the provision of healthy snacks and drinks, fitness classes to healthy food options and meditation rooms, investment in new or enhanced health & wellbeing amenities for employees.. With an increased focus on wellness, coworking spaces are likely to attract a diverse range of workers and businesses seeking adaptable and innovative workspaces. As the industry continues to evolve, coworking providers that can deliver on changing expectations will be best positioned for success.

COWORKING CONCEPT FOR INSPIRED BUSINESS

This highly professional workspace nurtures a relaxing working atmosphere on the basis of communication and positive energy

Changes in today’s business world trends climaxed with improved work productivity resulting from specially designed and naturally enriched business areas. One of such developed and recognisable space where inspirational business solutions and creative ideas are exchanged was established in 2020. Work Space One is the genuine office and co-working place situated at the very heart of New Belgrade, in the city’s most prominent business location, the Green Heart complex. Immersed in sunshine and comfort that provides, it represents modern tendencies of both open and separated co-working areas with state of the art design and the highest technical standards, with spacious and well-aired areas for relaxation and, friendly conversations. This exceptionally professional environment fosters a tranquil workspace through effective communication and an infusion of positive energy.

The year 2020 will remain remembered for global changes with consequences still being felt today. That marked the onset of the global promotion of the new “Hybrid work model.”. Work Space

CORPORATE

One provides its clients with organisational flexibility and modern interior solutions in a contemporary space, hence providing diverse possibilities for its clients. The capacity of its space encompasses 52 offices, different meeting rooms and co-working workplaces, ensuring that both well established and well-known companies as well as all those initiating independent start-ups are provided with a comfortable space where they can find creative inspiration.

The ambience, which provides a comfortable atmosphere, sets business and aesthetic criteria, knowing that improvement of the working atmosphere has a positive impact on the productivity of employees and progress in any type of business. The technical standards of the workspaces, offices and meeting rooms corresponds to the latest trends. The high quality and functionality of technical support, coupled with a sophisticated interior design, are increasingly symbolizing the authenticity and recognizability of the Work Space One concept, along with the high level of professionalism in its services.

The prestigious location of WSO is at the heart of the Serbian capital’s central business district in New Belgrade, ensured that WSO is linked directly to main locations: airport, hotels, restaurants and Belgrade city centre. The property in which we operate has a LEED Gold certificate based on the economical consumption of energy and the fostering of environmental protection awareness.

Combining functionality and aesthetics within the workspace, along with a designated common area for mutual business interactions and friendly exchange

THE BLENDING OF WORKSPACE FUNCTIONALITY AND AESTHETICS, BUT ALSO A SPECIAL COMMON AREA FOR MUTUAL BUSINESS AND FRIENDLY EXCHANGES OF EXPERIENCE, CREATES A UNIQUE IDENTITY IN MODERN SURROUNDINGS

of experiences, establishes a distinct identity. The shared space is visited by pets, thanks to WSO’s pet-friendly concept. In addition to all the current advantages, there’s also the opportunity to arrange diverse business events, conferences, and celebrations for entrepreneurial milestones.

Koh-I-Nor of the area are the outdoor gardens of the WSO working environment , which spread a positive spirit in the radiance of creative and inspired conversations.

Visit us and discover for yourself!

URBAN OASIS IN A RURAL SETTING

American business magazine Forbes ranked Serbia’s Mokrin House among the world’s Top 10 co-living spaces, while Allwork included it on its list of the World’s Best Co-working and Co-living Destinations

Thanks to the courageous and original project of a group of young architects gathered together at the “Autori” [Authors] Studio, this estate in the Banat village of Mokrin, which had been abandoned and neglected for decades, was transformed into an urban oasis in rural surroundings. And thus emerged Mokrin House, which was conceived from its in-

ALL SPACES WITHIN THE WORK FACILITIES HAVE A VERY FLEXIBLE DESIGN AND CAN THUS BE QUICKLY AND EASILY ADAPTED TO CLIENTS’ VARIOUS NEEDS

ception as a place that merges the seemingly unmergeable.

Mokrin House has traversed an interesting development path from the initial idea of it as a place for friends to gather privately and socialise, only for circumstance to turn it into a place intended for artist residencies. The estate subsequently opened its doors to digital nomads from all over the world, who found in its urban-rural setting one of their chosen global destinations for work, rest and socialisation. This unique environment today also provides inspiration for teams from different companies to work on joint projects.

The estate itself contains five buildings, intended for accommodation and work, encircling a large courtyard covering an area of 2,000 square metres. All spaces within the work facilities have

a very flexible design and can thus be quickly and easily adapted to clients’ various needs – from installing desks for individual work to arranging certain spaces for group work. Some spaces can be converted into meeting or lecture halls easily, with the use of the latest technology.

PROUD OF THE FIRST DIGITAL VILLAGE

When it comes to creating the unique experience of Mokrin House, the central courtyard also plays an important role. It is there that guests gather to take a short break on the beanbags or relax by playing football or volleyball. The courtyard is spacious enough to host concerts and plays, but also picnics that, in addition to guests, are also attended by Mokrin residents and their guests.

Food – a mix of local and international dishes – also forms an essential part of the experience, while a decent share of the ingredients are produced in Mokrin House’s own organic garden. Here care is taken to ensure a wide selection of dishes and to maximally adapt meals to suit different tastes.

Cooperation with the local community represents an important element of the success of Mokrin House. Initial scepticism has turned into active support. Numerous events intended for the local community have been organised in Mokrin and Kikinda over the last ten years, including plays, literary evenings, lectures, exhibitions and concerts.

One particularly noteworthy highlight of Mokrin House’s cooperation with the local community is the Digital Village project, which was launched in cooperation with company Delta Holding and the Novi Sad-based BioSense Institute, and was recently also joined by OTP Bank. The project aims to digitalise agricultural production. The project is completely free for all Mokrin farmers

Photo Relja Ivanić

and has already been ongoing for more than two years. A series of workshops and lectures have so far been organised, weather stations have been installed around Mokrin, and land plots have been recorded by drone to enable the processing of data using the latest digital tools.

The Mokrin Sense app is currently under development. It will enable the simple utilisation of all information and knowledge collected and will be available to all farmers based in Mokrin.

SKILLED MERGING OF THE RURAL AND THE URBAN

Another programme directed towards the local community is the Rurban Days project, which has been organised for several years and also aims to merge the rural and the urban. Last November, Rurban Days 2023 was organised in cooperation with the Island School of Autonomy (ISSA) from the Croatian island of Vis, which was launched by Croatian philosopher Srećko Horvat. Within the scope of the three-day programme was a lecture by Srećko Horvat and a retrospective screening of the films of Želimir Žilnik, which included discussions with the filmmaker himself. A literary evening was held in Kikinda and saw actor Goran Bogdan conversing with writers Rumena Bužarovska and Saša Savanović, and film director Srđan Dragojević. The programme concluded with a concert of Slovenian group Laibach in the Mokrin House courtyard.

The concept of co-working spaces was in its very infancy in Serbia when Mokrin House was first conceived. The notion that such spaces could exist beyond a couple of larger cities was simply unimaginable back then, while the term “co-living” was completely unknown. And to assume that such a co-living and co-working space would emerge in a village in Serbia was at the level of sci-fi fanta-

sy. But here it is; a fairy tale has become a reality that’s recognised far beyond Serbia’s borders.

Every success can be deceptive, which is why – regardless of achievements to date – the current focus is on ways to further improve the experience of working and staying overnight at Mokrin House. And different guests have different needs. The expectations of a company team coming to spend a few days working on a specific project differ entirely from the expectations at a workshop held to educate new people. And that’s without mentioning digital nomads, some of whom stay for more than a month and require a great deal of peace and privacy. Under such conditions, adapting to different needs and specific situations is the crucial factor.

WORKSTYLE DEFINES LIFESTYLE

The future of work is a very important topic. Contemporary trends are increasingly influencing shifts in the way we work and demanding ever-swifter adaptation. We are all aware that digitalisation has led to us no longer needing to be in the same room, city or even time zone to form a team that works on projects together. But where digitalisation creates difficulties is in the forming and reinforcing of trust between people who comprise a team that isn’t physically present. And that’s why we’re seeing global growth in the number of co-working spots in cities, but also in the number of hybrid co-working/co-living destinations.

The way we work defines the way we live. The industrial revolution bound man to the workplace, and that’s why we’ve had to live close to where we work to this day. That is now changing, with digitalisation increasingly distancing us from that way of working and living, because in the digital world you can live anywhere and work anywhere and at any time.

The future of work lies in some evolved hybrid model that has yet to develop further and certainly won’t remain at the current level. This entire process will also speed up increasingly thanks to the development of artificial intelligence. AI tools will help us do more things faster and more efficiently, leading to the creation of new needs related to human work and life that we can’t yet even predict. All in all, we are awaited by interesting times in which Mokrin House sees the reason for its continued future existence.

Photo Branislava Brandić

Photo Branislava Brandić

Photo Relja Ivanić

n the evident lack of high-quality and flexible workspaces, I saw a fantastic opportunity to incorporate my experience into creating something that will satisfy all the needs of today’s times,” says Nebojša Jović, founder of a coworking space that distinguishes itself from the competition in many ways.

IWhat motivated you to launch The Place?

— I come from the IT world, which has set high standards of workspace quality over the last 20 years that employees expect to be met, so companies compete in terms of offering additional contents and perks to attract and retain talented workers. Another trend has been emerging since 2020: hybrid work, in which employees partly work from home. This creates additional pressure for employers to maintain high performance levels of their employees, given that as it has been shown that direct and immediate interaction still improves the performance of an entire team.

What does The Place bring that’s new to the market of coworking spaces?

— The Place is a premium coworking space intended for all those wanting to provide their employees with the best working conditions. We have 2,000m2 of fantastically designed space that forms a pleasant working environment, in which users have all the comfort and privacy of their own workplace, on the one hand (all offices are private), while on the other hand having all the benefits of a coworking space.

Spacious common areas, such as a relaxation zone with a library, a kitchen with a dining area and terraces, a conference hall and a large number of meeting rooms,

IMPRESSIVE AND DIFFERENT

The

Place

is among the market’s rare coworking spaces that have a 1:1 ratio of office space and common areas, without reducing workspace comfort

NEBOJŠA JOVIĆ

Founder and CEO of The Place

as well as wide corridors, render The Place impressive and different in its entirety.

What are your space’s main advantages and characteristics?

— All workplaces are equipped with an top furniture: ergonomic office chairs and desks with adjustable working height and cabinets, while our IT team has enabled the simple and immediate integration of each client into their surroundings. The network equipment, but also all workplaces, are connected to a backup diesel generator, offices are able to be accessed 24/7, while the latest technologies for managing such a space are generally used everywhere at The Place.

The location itself is also a major advantage. The building with impressive architecture in which The Place is housed – GTC X – is located in the most popular

We have 2,000m2 of fantastically designed space in which users have all the comfort and privacy of their own workplace

THE HIGH LEVEL AT WHICH THE WORKPLACES ARE EQUIPPED, COUPLED WITH THEIR GOOD DESIGN, HAS RAISED THE COWORKING SPACES BUSINESS IN SERBIA TO A PREMIUM LEVEL

business area of New Belgrade, on Milutin Milanković Boulevard, and a sufficient number of parking spaces have been provided in the underground garage, both for permanent tenants and their guests, but also for visitors who use our conference hall occasionally.

Clients most commonly have requests related to IT infrastructure, which must be reflected in security and comfort, primarily when it comes to the possibility of responding to companies’ various requests and procedures. Furthermore, the high level at which the workplaces are equipped, coupled with their good design, has raised the coworking spaces business in Serbia to a premium level.

How would you evaluate the coworking market and trends in Serbia?

— Given the occupancy rates of coworking spaces in Belgrade, it could be concluded that this concept is precisely what suits companies the most at this moment, particularly from the perspective of cost control and workspace planning. That’s where I identify a great chance for The Place, as one of the leaders of the new generation of premium coworking spaces.

Humans Must Actively Shape Their Future

I’ve often been asked why an anthropologist studies digital technology. It is perhaps easier to answer that question today, when AI endeavours to teach, assist, entertain, drive and even heal us—essentially, to be like us. In order for AI to achieve these goals, it must learn who we, as humans, are—our actions, preferences, needs, thoughts, knowledge and values

Smiljana Antonijević Ubois

Ph.D., Illinois Institute of Technology, Chicago

In the late 1990s, I encountered Nico in a chat room— at a time when “age/sex/location” was the standard icebreaker.

As we shared our locations, a surprise awaited. “I didn’t expect that,” remarked Nico from Croatia upon learning that I was from Serbia. We switched from English to “our language” and

an online romance began. With it, my professional path of digital anthropology also began.

Falling in love online before the release of the movie “You’ve Got Mail” in 1998 was so unconventional that I needed to understand what was happening. I thus embarked on studying social relations online and soon authored what is considered one of — if not the very first — academic articles published in Serbia on the sociocultural aspects of digital technologies (Sociologija, 41/2, pp. 187–200, 1999).

The internet has since served as a distinct mirror through which I reflect, observe and anthropologically analyse the reality around me. My exploration of the co-construction of technology and culture led me to research and teach in the U.S. and Europe, delving into topics such as internet use during wartime (University of Belgrade), digital research tools (Royal Netherlands Academy of Arts and Sciences), digital humanities (University of Oxford; University of Amsterdam), digital scholarly workflows (Pennsylvania State University), virtual embodiment in the metaverse (University of Minnesota), digital research methods (Illinois Institute of Technology), and the sociocultural aspects of artificial intelligence in applied research (Silicon Valley).

I’ve often been asked why an anthropologist studies digital technology. It is perhaps easier to answer that question today, when AI endeavours to teach, assist, entertain, drive and even heal us—essentially, to be like us. In order for AI to achieve these goals, it must learn who we, as humans, are—our actions, preferences, needs, thoughts, knowledge and values. The current development of AI is thus like a gigantic ethnographic project aimed at learning as much as possible about humanity.

This global AI ethnographer isn’t an anthropologist and often isn’t even human, but it bears similarities with anthropology in its early

days. Just like AI-focused computer science today, anthropology was once arrogant in assuming that it could fully capture human worlds and worldviews, objectively understand and interpret them, and guide the “less-advanced” along the presumed, unquestioned evolutionary line of progress.

AI-focused computer science thus still needs to learn what anthropology learned a while ago—that such a mission is not only impossible, but unethical and detrimental. It took decades for anthropology to evolve its current principles, such as reflexivity, community-based participatory research and cultural relativism.

Viewing modern AI research through an anthropological lens is therefore crucial, as AI research often oversimplifies human behaviour into rudimentary models, overlooking its

Viewing modern AI research through an anthropological lens is crucial, as AI research often oversimplifies human behaviour into rudimentary models, overlooking its true complexity

true complexity. This oversimplification leads to extreme visions of a utopian or dystopian future, under the mistaken belief that these outcomes are inevitable. Ultimately, it is us humans who must actively shape our future, including the technological aspect, rather than passively accepting it as predetermined. Let us thus approach our co-construction with digital technologies, including AI, with the mindset of anthropologists—or as online lovers—embracing the possibility of surprise and acknowledging that everything could always be different.

Master A of

Surrealism and Expressionism in Serbian Art

Delving into the life and legacy of Miloš Šobajić:

The Serbian artist who blended surrealism and expressionism to create compelling visual narratives

Miloš Šobajić painter and sculptor

Photos: Miloš Šobajić Facebook

Miloš Šobajić, born in 1945 in Belgrade, Serbia, is a distinguished artist whose work spans several decades and encompasses painting, sculpture, and multimedia. His artistic journey began in the cultural milieu of post-war Yugoslavia, where he developed his unique style that would later gain international acclaim.

Šobajić studied at the Academy of Fine Arts in Belgrade, where he was exposed to various artistic movements and philosophies. His early work was marked by a strong expressionistic approach, often focusing on human figures and faces, imbued with intense emotion and a sense of existential turmoil. This period of his career was reflective of the broader socio-political tensions in Yugoslavia and the search for individual identity within a changing society.

In the 1970s, Šobajić moved to Paris, a decision that significantly impacted

his artistic development. Paris, with its rich artistic tradition and vibrant cultural scene, offered him new perspectives and inspirations. During this time, his style evolved, incorporating elements of surrealism and abstract

Miloš significantly contributed to the Serbian and European art scenes, both through his influential works and as a mentor to emerging artists

expressionism. His paintings began to feature more complex, dream-like scenes with distorted figures and objects, conveying a sense of the surreal and the subconscious.

Šobajić’s work is known for its dramatic intensity and visual impact. His use of bold colors, dynamic compositions, and textured surfaces creates a powerful visual language that engages viewers on both an emotional and intellectual level. His paintings often explore themes of human existence, suffering, and the metaphys-

ical, questioning the nature of reality and human perception.

Throughout his career, Šobajić has maintained a strong connection to his Serbian roots, and his work often reflects the historical and cultural complexities of the Balkans. He has been an influential figure in the Serbian art scene, contributing to its development and international visibility. His dedication to exploring and challenging

His art is celebrated for its dramatic fusion of surrealism and expressionism, creating impactful, dream-like scenes that delve into existential themes

the boundaries of art has made him a key figure in contemporary Serbian and European art.

In addition to painting, Šobajić has made significant contributions to sculpture and multimedia art. His sculptures, often large and made of bronze or other metals, echo the themes and aesthetic concerns of his paintings, with distorted forms and surfaces that suggest movement and transformation.

Šobajić has exhibited extensively in galleries and museums worldwide, earning him a reputation as one of the leading artists of his generation. His work is included in numerous public and private collections, and he has received several prestigious awards for his contributions to art.

Beyond his artistic achievements, Šobajić has also been involved in education and cultural advocacy. He has taught at art schools and universities, sharing his knowledge and experience with younger generations of artists and encouraging them to pursue their own artistic paths.

In summary, Miloš Šobajić’s life and work represent a profound engagement with the visual and existential dimensions of art. His innovative approach, marked by a deep understanding of historical and cultural contexts, continues to inspire and challenge the conventions of the art world. His legacy is that of a creator who transcends boundaries, offering a vision of art as a vital, ever-evolving dialogue with the world.

the Failed Test Culture has

She has been a curator at two of Serbia’s largest museums, holds the title of professor emeritus and has authored hundreds of important studies, but also a dozen books and monographs. Thanks to her persistence and perseverance in her work, resulting in an abundance of valuable research results, one important avant-garde art movement from the early 20th century – Zenitism – has found its place in the history of contemporary art

Irina Subotić art historian

By Radmila Stanković

It is unavoidable for any presentation of art historian Irina Subotić (1941) to begin with the saga of her family, because her origins and upbringing determined her life choices to a large extent. Born in central Belgrade just as World War II was reaching the country, she was baptised at the famous ‘Saborna Crkva’, the Cathedral Church of Saint Michael the Archangel, attended the King Petar I Primary School, resided in the Vračar neighbourhood for a while, then on Banovo Brdo, only to arrange with her husband Dr Gojko Subotić, who she married in the Municipality of Stari city, the penthouse apartment in which they still live. It can thus be said that her life’s journey has unfolded within the boundaries of old Belgrade.

Her half-Polish, half-Russian mother, Tatjana Lukašević, arrived in Belgrade in 1939 and married Irina’s father, Milivoje Jovanović, in 1940.

“Mum didn’t know Serbian, so she communicated with my dad in French. When I was little, my mother spoke Russian with me, but she stopped in 1948, due to well-known events [the Tito-Stalin split]. She carried multiculturalism within her and instilled it in me in various ways. When they were young, her mother and aunt formed a musical duo that was famous in Saint Petersburg during those years, and it was also said that Mayakovsky [Russian poet and playwright Vladimir Mayakovsky] visited their home to attend their artistic evenings.”

The sister of Irina’s mother, after whom she is named, was a ballerina and actress. She played the female lead, opposite Vittorio De Sica, in the 1933 Italian film Bad Subject [Un Cattivo Soggetto].

“My mother studied opera singing, but she abandoned her studies when she came to Belgrade to visit her parents, who had fled here because the city had a large colony of Russians. She met my father, they wed and I was born the following year, only for my sister Jelena to be born three and a half years later. My mother remained

eternally stateless. She lost her nationality and, apart from falling in love with my father, she also fell in love with Serbia and all its traditions. That’s how we came to live with all Serbian and Russian customs.”

Milivoje Jovanović originally hailed from Krupanj in the Rađevina area. He graduated in law and worked for the City Administration. Advancing in his career, just before the outbreak of World War II he had been in charge of the civilian aides and security of Prince Pavle. And he advanced from that position to become chief of police for the City of Belgrade.

“He saw what was about to happen and he had a large number of friends among Jews and leftists. He remained in the City Administration, but not in a leadership position, and until 1943 was responsible for many good deeds that I only learned about in the middle of the last decade. He never spoke about that, but thanks to the documentation of his good friend Miodrag Popović, the father of lawyer Srđa Popović [famous as a political activist and leader of the student movement Otpor (Resistance) in the ‘90s], I found out that he compiled

lists of people who had been accused of wrongdoing under the regime and threatened with arrest and even death. Those lists reached members of SKOJ [The League of Communist Youth of Yugoslavia] who rescued the suspects. The Germans grew suspicious of my father and the Gestapo ultimately arrested him. He was tortured in an electric chair and then transferred to the Banjica concentration camp, which had actually been established while he was chief of police! He was arrested several times after the war –the last time in 1948. We thought that was linked to Infombiro [the period of purges within the Communist Party of Yugoslavia], but we never discovered the truth. He knew how to keep his mouth shut. When I asked him how he survived the Gestapo, the Banjica camp and subsequent imprisonment,

Only 30 per cent of what previously existed can be changed in a single generation, in order to preserve the spirit of a city and for it to have layers that make it valuable

With husband Gojko, Mount Rtanj, 1969

Photo by Stojan Ćelić

he would constantly repeat that the most important thing had been to say that he didn’t know anything: that’s how he saved the lives of hundreds of other people, but also his own.”

Irina’s father had socialised with famous painters of the time: Lubarda, Gvozdenović, Šerban, Peđa, Milunović et al. He had a nice collection of paintings that was split between Irina and Jelena after their parents passed away.

“And at the time he was in prison, everything in the house that could be sold was. Carpets, silver, even books… the pictures were last because they were my father’s greatest love. They both departed this world in a symbolic way: Mum died on Good Friday, 6th May, 1983. Dad couldn’t endure that loss and departed himself just a year later, on Friday, 18th May, on Saint Irina’s Day. That was the name day of both me and their granddaughter Irina Ljubić, Jelena’s daughter. Mum wasn’t even 70 when she died, while dad made it past his 70th birthday. She had been in very poor health in her last years, and the diagnosis we heard from one doctor was ‘Your mother has worn out her life!’.”

Irina’s younger sister was famous ballerina Jelena Šantić (1944-2000). Having succeeded professionally, she devoted the last decade of her life to the continuous struggle for peace on the territory of the country at war that was then still called Yugoslavia, but those wars took many victims and changed the faces of yesterday’s republics. She said: “I poured my despair and horror into concrete work against hatred, nationalism, chauvinism, para-fascism and violence... I experienced the outbreak of the war as the collapse of culture and our civilisation.”

Speaking about her sister, Irina says that she had known from her primary school days that she would be a ballerina.

With

“She had enormous energy while she danced, but also enormous life energy with which she fought and which, unfortunately, she also depleted with the illness that took her life at the age of 55. She left behind her daughter Irina, an art historian who had attempted to work in a state institution, but that didn’t suit the libertarian spirit that had been instilled in her by her mother. And then she did something great and important. She separated the fund established by Professor Vojin Dimitrijević in the organisation Group 484, which had been founded by my sister, and thus the Jelena Šantić Foundation was born. That Foundation now operates successfully and Irina holds on to the idea that the Foundation’s work will help to really improve things when it comes to young people and women, and to culture more broadly penetrating small communities... Irina has two wonderful daughters, our granddaughters, who are 18 and 11.”

Irina’s husband is Dr Gojko Subotić. A historian of medieval art and

full member of the Serbian Academy of Sciences and Arts (SANU), he is one of the most important and respected experts in the field of protecting monuments of culture. She says that she was ‘tricked’ into meeting him. In her third year of high school, for the final exam of the School for Tour Guides, she was tasked with walking through Belgrade to Avala and presenting all the monuments created by famous sculptor and architect Ivan Meštrović. Meštrović had previously published a memoir in which he criticised Tito, resulting in all books about him being withdrawn and hidden from the public eye. She searched for anything about Meštrović in various places without success, ending up at SANU, where she was offered a doctoral dissertation that was of hardly any use to her. Upon returning it, she didn’t know who had lent it to her, so she placed the business card that her father had made for her in the book. The young man to whom she returned the book with the business card was Gojko Subotić, and within a year and a half the two of them were married. They spent the most beautiful year and a half living in Greece, when Gojko was learning the Greek language, before returning to Belgrade and sharing an apartment with his parents.

They have two daughters, both of whom abandoned Belgrade during the 1999 bombing of Serbia.

“We weren’t aware that that would be permanent, but they quickly found their way and established their own families. Our elder daughter, Jelena, received a scholarship for postgraduate studies in America, earned her doctorate and is now a professor of political science at Georgia State Univer-

I asked my father how he survived the Gestapo, the Banjica camp and subsequent imprisonment, and he said that the most important thing had been to say that he knew nothing

her sister Jelena in 1946 Exhibition Zenit and the Avant-Garde of the ‘20s, National Museum, 1983

sity in Atlanta. She is married and has a wonderful seventeen-year-old son. Our younger daughter, Ivana, graduated in Italian Studies and lives in Rome with her husband. After numerous different jobs, she’s been working as a manager of apartments over recent years and is very satisfied with her work. Their son is a student of modern gastronomy and hotel management.”

There’s no doubt that the upbringing Irina received at home also determined her profession. She grew up surrounded by paintings, serious music, books... She read a lot and attended exhibitions and concerts. She was very close to her father.

“He was a gentle, wonderful father. It was from him that I received knowledge and a joy of life, but I also remember the sadness he carried within him. We lived at 2 Braće Jugovića Street, opposite Glavnjača [the colloquial term for a political prison in Belgrade city centre]. When he was in prison in 1948 and would go out for a walk with all the other prisoners on Fridays, I would watch him from the roof of our building, together with my mother and sister. I was seven at the time. When they later relocated us to Beogradska Street, the din of the tram would wake me up at night and I would fear that something had happened to my father... His imprisonment was terribly traumatic for

Venice Biennale with Richter Otašević and Veličković, 1972

Tito’s guide at the Tourism Fair, Kranj, 1959

me. Fortunately, my parents didn’t ‘poison’ me or my sister with what dad had gone through.”

Milivoje attempted to convey everything he knew to Irina. They would walk around Belgrade so he could explain to her how the city had looked prior to the bombing of 1941 and 1944.

“My mother instilled in me a different kind of love for art, and thanks

The issue of culture has failed the test in all fields in our country, and perhaps most of all in museology, because we don’t keep abreast of what the civilised world is doing

to my knowledge of her language, I earned money as a translator and tour guide when I was a third-year high school pupil. I used the first money I ever earned to buy the Herbert Read book The Meaning of Art. I read it all night and realised that I wanted to study modern art, because there were many more meanings hidden behind the appearance of beautiful colours that I wanted to discover.”

Over the last 25 years, or more specifically since the death of her sister Jelena, Irina has been recording the

genealogy of the Lukašević and Jovanović families, but also the Subotićs. Her work has today evolved into a huge book of nearly 800 pages that’s intended for children who aren’t in Belgrade, as a recollection of memories they don’t have.

Irina’s professional life implied constant work and study. She was ultimately awarded an Emeritus Professor title, while life taught her to be strict.

“It was only in my later years that I learnt to dismiss that seriousness a little; to be a little more lenient towards myself and others. I learnt from the great art historians and the good artists in my surroundings that, when it comes to art, the testimony of an authentic creator is very important in our profession. I left behind many traces of their words; I wasn’t a so-called ‘first-person critic’. I started writing early on, thanks to Stojan Ćelić, who established the magazine Umetnost, together with a group of other intelligent people, and invited me to contribute. I didn’t include my own theory in the articles, nor did I rely on aesthetics and citing greats. I learnt from what I discovered by socialising with people from the art world; I wanted to be cognisant of how authentic and variegated they are in their poetics; I wanted to get better acquainted with their work and then better acquaint others with it. That’s why I wrote numerous

articles about great artists who have remained great and inimitable to this day, such as Leonid Šejka, Cuca Sokić, Vladimir Veličković, Milenko Šerban, Stojan Ćelić and others. Of course, I also wrote about many artists who were just emerging on the scene and who invited me to write about them. I didn’t hesitate to use my words for the sake of artists who didn’t have a major biography or a prominent place in the art world. These weren’t about praise; I wasn’t dealing in epithets, but rather the meaning of their work, in the case that I found such meaning. And there were many articles that I had no desire to write...”

When the Museum of Contemporary Art opened on Ušće in 1965, it represented a new wonder of the world in terms of architecture and the museology concept provided by its founder and first director, Miodrag B. Protić. And CorD’s interlocutor explains that this was no accident, but rather a consequence of state cultural policy. On the other hand, today, unfortunately, even following the National Museum’s restoration just a few years ago, this national institution still isn’t capable of hosting a single globally-relevant exhibition, because it lacks the required technical conditions that are a given for major museums. Irina is the best possible witness to the good and bad times of these museums, having worked as a curator at both of them.

“Yugoslavia firstly wanted to be relevant in international circles at the cultural level, and not only in the policies of nonalignment. It also wanted to carve out a more stable place among the countries of the developed world, to which it wanted to belong. Then there was Miodrag B. Protić – who was extremely influential with his vision, despite not being a member of the Party. Those were years when culture was deemed important and necessary. That’s how, even during the 1980s, the National Museum still inherited that which Lazar Trifunović had established back in the 1960s as the vision of a great Museum. He

We can no longer have major exhibitions at the National Museum like we used to. Conditions have changed around the world and we haven’t adapted to them

was the first to bring us works by Van Gogh, to make agreements with the most important Dutch and German institutions etc. With his considered policy, the National Museum stimulated a high level of expertise and brought proven treasures. And then came the ‘90s – disastrous in every sense: not only because of the countless dead and displaced persons, because of the destruction of Yugoslavia, but also because all values dropped, such that an inconsequential painter could be the director of the Museum of Contemporary Art for an entire decade and sweep away almost everything that Protić had done. When the need was felt in the early 2000s to transform the National Museum into a museum of world-

wide relevance, which it deserves to be thanks to its priceless collections, and it was realised that this would entail major reconstruction works, digging underground spaces and building extensions, animosity and our mentality let to that being abandoned, so we ended up with only painted rooms. That’s why we can no longer have major exhibitions like we used to. The truth is that conditions have changed around the world and we have been left behind, having failed to adapt to those changes. The issue of culture has failed the test in all fields in our country, and perhaps most of all in museology, because we don’t keep abreast of what the civilised world is doing.”

2008 Award for Publishing Endeavour of the Year, ZENIT 1921-1926

When asked, in her capacity as an art historian, if it’s normal for a city to undergo so much demolition to make way for large apartment blocks, as we see happening in Belgrade city centre, Irina explains: “Only 30 per cent of what previously existed can be changed in a single generation, in order to preserve the spirit of a city and for it to have layers that make it valuable. That’s how it was done in Lisbon and Buenos Aires, and those are referred to as preserved cities. There are derelict buildings in our country that need to be demolished, but the problem is that investors, rich people, are building at a hitherto unseen speed as if they’re just laundering money, paying no attention to the entirety, to the residents, to history, tradition, everything that comprises the spirit of a city. All that matters to them is to build whatever they want, in locations with the highest rents. And the institutions that should take care of this and prevent destruction – from the National Assembly to the Institute for the Protection of Cultural Monuments – don’t function properly.”

It was thanks to Irina that the valuable art collection of Zenitist Ljubomir Micić was saved from oblivion. That marked the start of the broader recognition of Zenitism as an authentic avant-garde movement, thanks once again to this exceptionally capable and charming woman.

Chill Out

FINLAND TOPS GLOBAL HAPPINESS INDEX, AGAIN

Finland has been named the happiest country in the world for the seventh consecutive year, with its Nordic neighbours Denmark, Iceland, and Sweden also securing spots in the top 10, according to the United Nations-sponsored World Happiness Report. From fifth to tenth place are Israel, the Netherlands, Norway, Luxembourg, Switzerland, and Australia. However, growing dissatisfaction, particularly among the youth, has led to a decline in rankings for other Western countries, with the United States and Germany falling out of the top 20 for the first time since the report’s inception over a decade ago.

DUBAI TO JOIN REGIONAL BASKETBALL ABA LEAGUE NEXT YEAR

Dubai Basketball Club will compete in the ABA League, a regional competition gathering the best clubs from the former Yugoslavia region, starting next season. This decision was made during the assembly of the regional competition. Nine out of eleven ABA League assembly members voted for the club’s entry from the United Arab Emirates. The club will be part of the regional basketball competition from the 2024/2025 to 2026/2027 seasons, with the option to extend the collaboration. The ABA League currently has 14 clubs; with Dubai’s entry, it will be expanded to 16.

CHINA SURPASSES THE US IN INTERNATIONAL PATENT FILINGS

In a landmark shift that underscores the rapidly evolving landscape of global innovation, China has, for the first time, significantly outpaced the United States in the number of international patent filings, according to a recent report from the US National Center for Science and Engineering Statistics (NCSES) at the National Science Foundation. The data reveals a compelling narrative of ascendancy: Chinese innovators lodged approximately 68,600 patent applications in 2022 through the Patent Cooperation Treaty (PCT), surpassing their American counterparts who filed 58,200 applications in the same timeframe.

CZECH KRISTÝNA PIŠKOVÁ

CROWNED THE NEW MISS WORLD

Czech Kristýna Pišková has been crowned the new Miss World at the competition in the Indian city of Mumbai. The law student emerged victorious from a field of 111 girls, with 40 making it to the final. Her runners-up are Jasmina Zeidan from Lebanon, Asha Abraham from Trinidad and Tobago, and Lesego Thlase from Botswana. Pišková (23) takes over the Miss World title from Poland’s Karolina Bielawska, who won in 2022, as the competition was not held last year.

FOOTBALL CLUBS EMBRACE AI-DRIVEN TALENT SCOUTING APP

Top football clubs use an AI-driven app to scout emerging talent. The London-based tech firm aims to democratise talent identification in soccer with the aiScout app. It’s free globally and enables players to enter virtual trials by submitting self-recorded drills. The app offers 75 skill-testing exercises with instructional videos and AI-based scoring.

STANFORD STUDY REVEALS GENDER-BASED BRAIN DIFFERENCES

A team of scientists from Stanford University has discovered for the first time that the brains of men and women function differently. The research reveals that gender is important when it comes to how people think and behave, challenging the controversial question of whether male and female brains are different. Some experts argue that society – not biology – shapes the divergence. These include the “default mode network,” an area of the brain considered the neurological centre of “intrinsic properties,” crucial in introspection and interpreting personal memories.

THE BEST EASTER Gift Ideas

L’Originale Gold and Emerald Glass Egg-Shaped Caviar Server

Inspired by the iconic Faberge egg style, this server offers a glamorous and elegant way to present caviar on special occasions.

MacKenzie-Childs Rose Garden 3-Piece Chick Set

Mackenzie-Childs’ set, made of hand-painted resin of three Rose Garden chicks, adds fun to any spring tabletop.

Pasotti Spring Floral Umbrella

Designed by Pasotti, this charming floral-print umbrella features a wide variety of blossoms, leaving no end of the colour spectrum behind.

Cuisinart Egg Cooker

Even the least cookinginclined can make perfect, dye-ready hardboiled eggs

VOLUSPA Mini Candle Set

Spring into the new season with a fresh set of sweetly scented candles made for warmer days.

Neuhaus Big Easter Egg Selection Box

More is more with this decidedly delightful chocolate selection from the inventors of Belgian praline, no less. Open the pictureperfect pastel florals box and find 30 artisan chocolates.

Floral Meadow Mixed Salad Plates, Set of 4, Bunny

Decorated with woodland bunnies in flower-strewn fields, our quartet of salad plates features hand-finished, microwave-safe gold rims for an elegant yet practical touch.

The Classic Tale Of Peter Rabbit Leather Bound Book

The tales of Peter Rabbit are celebrated in this full-colour classic edition that features never-before-seen original art and a newly designed format.

SUKHISHVILI BALLET

12 April, mts Hall

Georgian National Ballet Sukhishvili is coming to Belgrade!

One of the world’s most renowned ensembles will present a spectacular performance to Belgrade’s audience on April 12, 2024. Audiences will be able to enjoy impressive choreography accompanied by an orchestra playing unique instruments, reflecting authentic Georgian dance for over 75 years. With incredible skill on stage and exciting choreographies known for “defying gravity,” they have earned titles such as “flying Georgians,” “eighth wonder of the world,” “hurricane on stage,” “wonder from Georgia,” “poetry in motion,” and have been declared “best performance on Broadway” multiple times.

RUBEN LORENZO CONCERT

9 April, Kolarac Hall

Renowned Spanish pianist Ruben Lorenzo will have his premiere performance on April 9 at 8 p.m. in the Grand Hall of the Kolarac Endowment. The recital, part of the Kolarac Your World of Music series, will feature works by Turina, Albeniz, De Falla, Granados, and Liszt.

Lorenzo, who has been on the international scene since 1982, is considered one of the most relevant pianists in Spain. He has performed in prestigious venues across Europe, Asia, Africa, and America.

This acclaimed pianist has dedicated part of his international concert career to promoting the works of prominent Spanish composers, some of which he will perform on the grand stage of the Kolarac Endowment.

LENA KOVAČEVIĆ CONCERT

20 April, Zrenjanin Cultural Centre

The lady with a magical voice and unique emotions, Lena Kovačević, will perform with her musicians at the Cultural Center in Zrenjanin on 20 April at 8 p.m. Hits that we know from radio stations in Serbia and the region, as well as music that has reached foreign radio stations like “Cafe” or “Požuri,” the audience will have the opportunity to hear live. It’s a special musical journey featuring songs like “Samo da mi je,” “Dubine,” “Vejte snegovi,” “Leto je,” and many others, as well as traditional songs in special arrangements that allow Lena and her musicians to sell out concerts.

RIBLJA ČORBA

25 April, Novi Sad Cultural Center

After the musical spectacle that Riblja Čorba created a year ago at the Cultural Center, countless messages from the audience asking for Riblja Čorba to play again in Novi Sad, you will have the opportunity to hear timeless hits that are deeply ingrained in the memories of many, such as “Kada padne noć” (“When Night Falls”), “Kad sam bio mlad” (“When I Was Young”), “Ostani đubre do kraja” (“Stay Trash Until the End”), “Ja sam se ložio na tebe” (“I Was Crazy About You”), “Kad hodaš” (“When You Walk”), and many others.

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Faces & Places

Kopaonik’s International Coffee Break

5/3/2024

British-Serbian, German-Serbian, Italian-Serbian Chambers, Nordic Business Alliance, and Slovenian Business Club hosted a fruitful “INTERNATIONAL COFFEE BREAK” during the Kopaonik Business Forum. Over 100 attendees enjoyed informal networking, exchanging ideas, and creating new business contacts. This collaborative initiative aims to enhance the business climate in Serbia. Supported by Mercedes-Benz, ProCredit Bank, Steel-Impex, WeMedia Agency, and Wireless Media Group.

Japanese Embassy in Serbia Donates €130,000 to Healthcare

6/3/2024

The Japanese Embassy in Serbia, led by Ambassador Akira Imamura, has donated €130,000 to Serbian health institutions. The official ceremony included agreements signed between Ambassador Imamura and key Serbian health sector representatives, emphasising Japan’s commitment to supporting Serbia’s medical infrastructure. Beneficiaries include Health Centre Vladimirci, the Institute for Neonatology in Belgrade, and the National Association of Parents of Children with Cancer (NURDOR). This donation, part of the Basic Human Needs Project (POPOS), provides essential medical equipment like ultrasound devices and painless vein detection tools, showcasing Japan’s tailored support for Serbia’s healthcare services.

NALED Honours Minister Mihailo Jovanović with Top Reformer Award

7/3/2024

At NALED’s annual conference on economic reforms, Minister Mihailo Jovanović received the prestigious Top Reformer award for his outstanding contributions to Serbia’s digital transformation and reforms in electronic communications, which align with EU standards. His initiatives, including the establishment of the state data centre, numerous e-services on the eGovernment portal, and the recent Law on Electronic Communications, earned him this recognition. The event also unveiled NALED’s 16th edition of the Grey Book, featuring 100 recommendations for enhancing the country’s business environment.

Belgrade Irish Festival Pre-Event Gathering

7/3/2024

A day before the opening of the Belgrade Irish Festival, the pre-event gathering was hosted by the Ambassador of Ireland in Serbia, where the festival director, Jas Kaminski, delivered an inspiring speech. The event attracted notable figures from the cultural sphere, creating a buzz of anticipation for what promises to be a vibrant and engaging festival celebrating Irish culture, arts, and heritage. With the ambassador’s gracious hosting and the enthusiastic participation of attendees, the stage is set for a memorable and enriching experience at the Belgrade Irish Festival.

Faces & Places

EU Delegation in Serbia Celebrates International Women’s Day

8/3/2024

The European Union Delegation in Serbia hosted a ceremony tonight at the Ethnographic Museum in honour of International Women’s Day. The event featured the unveiling of the English translation of the monograph “Dobrila” and the newly established “Dobrila” award. Ambassador Emmanuele Giaufret, representing the EU in Serbia, highlighted the significance of celebrating March 8th, focusing on the story of women’s emancipation and empowerment. The ceremony, attended by numerous dignitaries from public and cultural life, paid tribute to the legacy of Dobrila Smiljanić, a renowned knitter known for her contributions to women’s empowerment.

IWC Belgrade’s International Women’s Day Celebration

8/3/2024

IWC Belgrade members marked International Women’s Day with a Coffee Morning featuring a Museum of Serbian Diplomacy tour and impactful speeches by First Deputy Prime Minister and Foreign Minister Ivica Dačić and Acting Assistant Minister for Public and Cultural Diplomacy Ambassador Dr Ljiljana Nikšić. The event kicked off with flowers from Minister Ivica Dačić and a surprise appearance by HRH Crown Princess Katherine Karađorđević. Members enjoyed a unique museum tour and sampled sweets inspired by Nikola Tesla’s life, courtesy of international chef Milijan Stojanić. The day celebrated Serbian diplomatic heritage, honoured women’s historical contributions to equality, and emphasised the importance of unity and harmony.

French Embassy Launches Eco-Municipality Competition in Serbia

18/3/2024

The French Embassy in Serbia has initiated the third edition of the “Eco-municipality” competition, aimed at promoting sustainable cities and facilitating dialogue and experience-sharing among local governments, businesses, and institutions in tackling climate change. Local administrations have until July 7 to submit their applications. French Ambassador to Serbia Pierre Cochard and State Secretary of the Ministry of Environmental Protection Sandra Dokić have evaluated the project’s progress and outlined plans for the competition. Cochard emphasised that this contest is crucial in France-Serbia cooperation, focusing on engaging local communities, youth, and educators to enhance ecological and civic awareness.

Embassy of Japan & Go Sushi Ušće Host Food Extravaganza

19/3/2024

In Belgrade, a culinary spectacle unfolded as the Japanese Embassy and Go Sushi Ušće collaborated for a Japanese food workshop. Culinary enthusiasts gathered to learn the secrets of sushi and tempura from Hiroo Katahira, the personal chef of the Japanese Ambassador. Katahira showcased intricate sushi-rolling and tempura frying techniques, immersing participants in Japan’s culinary traditions. Attendees crafted sushi under Katahira’s guidance, gaining a deeper appreciation for Japanese gastronomy amidst Belgrade’s lively food scene.

Grand Opening of “DDOR BG Car Show” and “Motopassion” in Belgrade

20/3/2024

The President of the Association, Aleksandra Djurdjevic, and Francesco Masci, Executive Board President of DDOR Insurance, spoke at the grand opening ceremony of “DDOR BG Car Show” and “Motopassion” fairs. The Minister of Construction, Infrastructure, and Transport, Goran Vesić, officially inaugurated the fairs. At the fairs, association members will showcase 30 automotive brands with 34 premieres and 22 moto/ATV brands with 52 premieres.

Italian Design Day 2024 Celebrated in Belgrade

26/3/2024

The Italian Embassy in Belgrade, in collaboration with the Italian Trade Agency (ICE) and the Italian Cultural Institute, marked the eighth Italian Design Day with an exhibition showcasing contemporary Italian furniture titled “Creating Value: Inclusivity, Innovation, and Sustainability.” Ambassador Luca Gori inaugurated the exhibition, highlighting the essence of Italian design and its focus on inclusivity, innovation, and sustainability. The event celebrated the rich heritage of Italian craftsmanship and design excellence, emphasising values that resonate globally.

Belgrade Celebrates Greek National Day at Embassy Reception

25/3/2024

Serbian officials, foreign diplomatic missions, Greek business representatives, and cultural institutions gathered at the Embassy of Greece in Belgrade to mark Greek National Day. Serbian and Greek friends of the Embassy and media representatives attended the event. The City of Belgrade joined the celebration by illuminating Square Slavija with the vibrant colours of the Greek flag in honour of this special occasion. The reception at the embassy served as a testament to the strong ties and friendship between Greece and Serbia.