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COMMENT
A Rebellious Man
By Branka Prpa
As the history of the 20th century shows us, drowning in the collective Self ends in a totalitarian order with an anti-human nature that we need not discuss. The reducing of political messages to mere slogans and banners causes them to resemble meme tweets and deprives them of serious political ideas and possible directions towards a new future
n his notion of a rebellious man, philosopher Albert Camus implied man’s struggle for self and for others, but also man’s struggle against his own passivity. If we were to search for a deeper reason behind the mass rebellion underway in Serbia, we should seek it in the euphoric rejection of an existence of complete stupefaction or, more precisely, a life that boils down to purely surviving “from one day to the next”. New generations have been born and raised for decades in such a state of social nihilism, in which notions of the future have been eradicated, which is why they are – this time around – the initiators and conveyors of the rebellion that’s shaking the state and the entire society. However, it is here that we reach a specific “but”! After six months, this protest of mass solidarity, manifest in marches through the cities of Serbia, has started to resemble a post-modernist political performance. There is no individualisation, no political addresses, no articulation of a new future for them and others. There is even a resolute rejection of the char-
Iacterising of the student rebellion as political and thus any attempt to categorise them by placing them in the same bracket as the political opposition. Politics has itself become a dirty word, which isn’t at all surprising, of course, under conditions in which the future in its entirety depends on politicians who can’t be trusted – not only when it comes to moral categories, but also in terms of their ability to make common sense decisions. That’s why the revealing of their place in society shows all the signs of a possible antagonistic concept of the future. Anti-individualism leads them
The word politics is derived from the Greek word politikos, which means ‘of citizens or the state, civil, civic’, which conceptually describes every label we could attach to the current actions of Serbia’s students. As such, politics is not a dirty word!
seriously towards Mikhail Bakunin’s concept of social anarchism: “I don’t want to be Me. I want to be We”. As the history of the 20th century shows us, drowning in the collective Self ends in a totalitarian order with an anti-human nature that we need not discuss. The reducing of political messages to mere slogans and banners causes them to resemble meme tweets and deprives them of serious political ideas and possible directions to-
wards a new future. The word politics is derived from the Greek word politikos, which means ‘of citizens or the state, civil, civic’, which conceptually describes every label we could attach to the current actions of Serbia’s students. As such, politics is not a dirty word!
To conclude, let’s turn to the man proclaimed publicly as being the main culprit for the current crisis: Aleksandar Vučić. The skill to rule in a crisis is his top talent and a continuous feature of his political prowess. Is that just because he is manipulative and amoral, because he “lies honestly”, or because no real articulated political alternative has been offered on the other side? It is no longer possible to list all the elections that have marked his 12 years in power, but he nonetheless remains at the top. Regardless of how much we could accuse him of ideological alchemy in his fusing of pro-Europeanism and national chauvinism, his perseverance on Serbia’s political scene says more about us than about him. Wars, sanctions and marginalisation led to the loss of our nation’s foundations, with our fate causing uncertainty and anxiety. We must reconstruct value systems and utilise such newly laid foundations to build projects for our future that will be based on a belief in self. And that’s why, no matter how much political romanticism coloured the student protests, we were nonetheless part of that spiritual conversion that was an absolute necessity for us.
influential
Plato (left) and Aristotle (right), depicted in a detail from Raphael’s fresco The School of Athens. Plato’s Republic and Aristotle’s Politics cemented their status as two of the most
political philosophers in history.
We Must Keep Our Promises
The activities of the student movement show that we, in the EU, must also live up to our promises and that the time is ripe for reforms across the region. If we agree to provide a European perspective, we must also assume responsibility for the consequences of making such a promise~ Claudia Plakolm
Claudia Plakolm Austrian Federal Minister for Europe, Integration and Family
In this interview with Austrian Federal Minister for Europe, Integration and Family Claudia Plakolm, we explore the EU’s commitment to enlargement, Austria’s strong support for the Western Balkans and the importance of turning promises into tangible progress. Minister Plakolm discusses the need to accelerate reforms, maintain credibility within the region and find new ways to gradually integrate candidate countries, including through access to EU programmes and the European Single Market. She also emphasises the role of youth engagement, the risks of geopolitical neglect and the importance of economic resilience and strategic cooperation between the EU and its closest neighbours.
You recently underscored the need to accelerate the EU enlargement process, stressing that the first membership candidate countries could join the Union by 2030. What concrete steps should the EU take towards achieving this goal?
— It is true that we must step up our own efforts when it comes to the credibility of the EU perspective for our partners in the Western Balkans. We all know that empty promises or false hopes will only trigger frustration and facilitate the influence of other actors in the region. Austria has been a frontrunner in the promotion of “gradual integration”, advocating the step-bystep integration of our Western Balkan partners in certain areas of the Single Market. This might be a concrete deliverable on the path to EU integration, adhering fully to the merit-based approach.
You have mentioned the possibility of limiting the right of veto in order to accelerate certain phases of the enlargement process. How could such a change impact the dynamics of EU decision-making and the perception of membership candidates?
— It is less about limiting rights than about achieving tangible results. We
are still in favour of unanimity in the EU’s foreign and security policy, because this strengthens our unity and global leverage. However, we must be open to considering innovative solutions on the road to enlargement, also in an effort not to lose our partners and to maintain credible EU accession prospects for them. As I said previously: we must live up to our promises and refrain from postponing them repeatedly.
You’ve stated that the recent protests in Serbia demonstrate that the population – especially young people – is ready for reform and is committed to European integration. How can the EU further support this energy and youth engage-
We must be open to considering innovative solutions on the road to enlargement, also in an effort not to lose our partners and to maintain credible EU accession prospects for them
ment around the region, given that the demands of the student movement in Serbia largely reflect the democratic values championed by the EU?
— As Federal Minister for Europe, Integration and Family, I am also in charge of all youth-related matters in the Austrian Federal Government. I therefore have a strong interest in ensuring that the concerns and hopes of young people are adequately taken into consideration. The activities of the student movement also show that we, in the EU, must live up to our promises and that the time is ripe for reforms in the region. If we agree to give a European perspective, we must also assume responsibility for the consequences of making such a promise. At the same time, the EU has always been clear that we expect fundamental reform efforts by our partners. We need to see clear re-
sults in the areas of the rule of law, media freedom and good neighbourly relations.
You advocate the gradual integration of candidate countries through their inclusion in EU programmes. Which specific programmes do you see as being most important for the Western Balkans, and how could participation in them contribute to the integration process?
— The decision on specific programmes will require some further reflection, I am sure, but there are already some good proposals on the table. Austria has long promoted the principle of gradual integration, which has finally arrived at the EU level. The EU Growth Plan for the Western Balkans is a good example of that. It will open up certain areas of the European Single Market to our partners in the Western Balkans (e.g. access to SEPA) in return for fundamental reform efforts.
You’ve expressed concern that the Western Balkans could become vulnerable to the influence of other geopolitical powers if the EU fails to integrate the region. How can
GEOPOLITICS
I think the current geopolitical developments clearly demonstrate the need for the EU to diversify its economic relations, especially in our neighbourhood
the EU respond effectively to these challenges and ensure the region’s long-term stability and prosperity? — I think the risk of vulnerability is real. We can witness the same developments in any kind of relationship: if you have high hopes, but someone constantly disappoints you, you will turn to other people. So, we must acknowledge progress, reward reform efforts and clearly state what more is needed to achieve a concrete result. Honesty and trust are crucial to any solid relationship and they must work both ways. This is particularly true in international relationships, where each partner brings their own sensitivities, expectations, and historical and cultural heritage to the negotiating table. But let me be clear: the time for lip service is over on both sides – we need to live up to our promises, but our partners in the region must also be serious
REFORMS
The EU has always been clear that we expect fundamental reform efforts from our partners
UNANIMITY
We are still in favour of unanimity in the EU’s foreign and security policy, because this strengthens our unity and global leverage
about their reform efforts; not least to convince those that are still sceptical about enlargement.
You have warned that the EU risks losing credibility in the region if it does not accelerate the enlargement and integration process for the Western Balkan countries. How can the EU maintain trust in its enlargement policy, particularly in light of current geopolitical tensions and growing public disillusionment? What specific actions should be taken to restore and preserve the EU’s credibility in the Western Balkans?
— First and foremost, it will be important to apply the same criteria to all candidate countries. I have some sympathy for the geopolitical dimension of enlargement decisions, because the prospect of EU membership can be a good incentive to implement neces-
sary reforms etc. However, we must avoid inequality and the risk of ending up with two categories of candidate countries. We saw that emerge briefly when Ukraine was granted candidate status. There was a certain degree of frustration, also in Brussels, that the Western Balkans no longer seemed to be on an equal footing. Austria, together with a group of like-minded EU member states, has consistently warned of that risk. I am pleased to see that our efforts have paid off and that there is now some new dynamic in the enlargement discussion as a whole.
Given the aggressive trade policy pursued by U.S. President Donald Trump, you have remarked that the EU must assume greater responsibility in the global economy. In this context, how do you see the future of economic cooperation between the EU and the Western Balkans, and what are the key economic challenges of this region that the EU should address? — Austria, as you know, is one of the key investors in the region, but our ties to the Western Balkans extend far beyond economic interests. In the end, it’s about people, their stories and our joint hope of working towards a better future. But to answer your question: I think the current geopolitical developments clearly demonstrate the need for the EU to diversify its economic relations, especially in our neighbourhood. We must strive to be more resilient, more autonomous and more assertive when it comes to our economic interests. A closer relationship with our partners in the Western Balkans, therefore, isn’t just a simple necessity, but a strategic investment in the future of our continent.
Milestone in Bilateral Relations
H.E. Avivit Bar-Ilan
Ambassador of the State of Israel to the Republic of Serbia
By Ljubica Gojgić
Our bilateral trade increased by 64% in 2024, reaching a record total of almost $200 million, with Serbian exports increasing by 75% according to the Statistical Office of Serbia. This indicates that Serbian goods have found their place on the Israeli market, but also that Israeli production facilities in Serbia contribute greatly to this figure, as their main export destination is Israel ~ Avivit Bar-Ilan
COOPERATION
Israel has good bilateral cooperation with Serbia in various fields, including the defence sector
In a year that marks the 80th anniversary of the end of World War II, Israel’s ambassador to Serbia will concentrate on efforts aimed at deepening the people’s understanding of the Holocaust, particularly among young people, says Ambassador Bar-Ilan in this interview for CorD Magazine. That mission in Serbia has special significance for her, because – as she notes – she is “the granddaughter of Holocaust survivors with roots in Serbia”. She adds that the first year of her term in Serbia has also convinced her of the “immense potential for the Israeli-Serbian relationship to evolve further, particularly in the political, economic and cultural spheres”.
Your Excellency, in the year marking the 80th anniversary of the end of World War II, Israel has taken on the presidency of the International Holocaust Remembrance Alliance. What activities do you have planned for the year of Israel’s IHRA Presidency, which is focusing on the theme “The Crossroads of Generations”? — Israel’s IHRA Presidency in this important year carries particular significance, as the international community faces the dual challenges of preserving remembrance of the Holocaust and addressing the concerning rise in antisemitism.
The Embassy of Israel is launching a series of impactful projects across Serbia aimed at deepening understanding of the Holocaust through education, research and remembrance. Our mission is to engage the next generation, offering them a contemporary and nuanced understanding of the Shoah, ensuring that its lessons are never forgotten.
Additionally, we are proud to promote the global campaign supporting the Survivors’ Declaration. We are hopeful that Serbia’s public figures and in-
TRAGEDY
Every civilian life lost is a tragedy, whether Israeli or Palestinian
CONFLICT
Israel has no interest in prolonging the conflict; we want to guarantee the safety of our population
stitutions will embrace this important initiative, reflecting the deep and enduring solidarity with the Jewish people that has long been part of this nation’s history.
For me, as a Jewish woman, an Israeli Ambassador and the granddaughter of Holocaust survivors with roots in Serbia, this mission is profoundly meaningful. From laying new Stolpersteine to honouring the Righteous Among the Nations, every aspect of our work is guided by an unwavering commitment to memory, truth and justice.
When you arrived in Serbia less than a year ago, you emphasised that you were arriving in a country from which your ancestors once hailed. How would you assess the current state of bilateral relations between Israel and Serbia?
The Joint Declaration on Technological Innovation, which was signed during the visit of President Herzog, promotes cooperation between our technological innovation institutions
— It was truly a privilege for me to witness Israeli President Isaac Herzog’s historic visit to Serbia, which marked a significant milestone in the strengthening of our bilateral ties. This visit, shortly after I took on my role as Israeli ambassador, allowed me to see firsthand the profound connection between our two nations, deeply rooted in history. There is immense potential for the Israeli-Serbian relationship to evolve further, particularly in political, economic and cultural spheres. As both countries continue to engage on various fronts, we are confident that our
collaboration will expand, bringing tangible benefits to both sides. The visit of President Herzog reaffirmed Israel’s commitment to deepening these ties, and I’m eager to build on this momentum, exploring new opportunities for cooperation that will serve our nations’ interests for many years to come.
When it comes to enhancing economic cooperation, you noted that this provides “momentum” for Serbian companies to establish themselves on the Israeli market, particularly in sectors like consumer goods, construction materials and the manufacture and sale of prefabricated houses. Have the two governments and business communities recognised this favourable moment? — Based on the level of our bilateral trade, we can definitely confirm that this is the case among businesses. Our bilateral trade rose by 64% in 2024, reaching a record total of almost 200 million USD, with Serbian exports rising by 75% according to the Statistical Office of Serbia. This indicates that Serbian goods have found a place on the Israeli market, but also that Israeli production facilities in Serbia contribute greatly to this figure, given that Israel is their main export destination.
Israel is frequently described as a technological powerhouse, renowned for its strong focus on education and support for innovation-driven companies. Does the recently signed Joint Statement on Cooperation in the Field of Technological Innovation between Israel and Serbia also envisage the transfer of Israeli knowledge and experience in this domain?
— Israel is home to world-renowned technology companies that have based
their R&D offices in our country as a result of government incentives and talent. This means that the innovation policy and budget incentives for R&D have remained stable over the past several decades and are among the highest in the world, with Tel Aviv having the greatest concentration of start-ups per capita.
The Joint Declaration on Technological Innovation, which was signed during the visit of President Herzog, promotes cooperation between our technological innovation institutions. It encourages exploration of ways to work within the national and international regulations and mechanisms to enhance cooperation between entities from Serbia and Israel in the emerging fields of biotechnology and bioconvergence.
Israel and Serbia signed a Memorandum of Understanding on cooperation in the field of green energy three years ago. Are any concrete projects now underway as a result of this agreement?
— Positive changes to Serbia’s legislative framework related to green energy were very well noticed and perceived among Israeli investors. I’m happy with the level of Israel’s contribution to Serbia achieving its green agenda.
The first and biggest contributor is Enlight Renewable Energy, which continues to expand its wind operations in the country and has new openings on the horizon. Apart from wind, Israeli companies also have an advantage in solar energy, in terms of knowhow and invaluable experience. We so far have the investment of Nofar Energy in Ada, while there is also very high interest and market exploration among other Israeli companies and investors.
The media have reported on an increase in the arms trade between our two countries in recent months. Serbia purportedly increased its defence exports to Israel thirtyfold in 2024. It was also announced recently that Serbia will import advanced artillery systems and drones from Israeli company Elbit Systems in a
major deal worth $335 million. Is cooperation in the domain of defence and security becoming the dominant aspect of our bilateral relations?
— Israel has good bilateral cooperation with Serbia in various fields, including the defence sector.
Despite a ceasefire announced at the end of January this year, the conflict in Gaza continues. UN Secretary-General António Guterres has announced a reduction in the UN’s presence in Gaza, citing escalating Israeli violence and increased risk to humanitarian personnel. Under such circumstances, does a prolonged continuation of the conflict appear more likely, or do you believe that peace can still be achieved?
— Peace can only be achieved when terrorism is defeated. What the world too often overlooks is that this con-
Positive changes to Serbia’s legislation framework related to green energy were very well noticed and perceived among Israeli investors
flict did not start in October — it began years ago, when Hamas took control of Gaza and turned it into a base for terror attacks against Israel and a prison for Palestinians. On 7th October [2023], Hamas launched a brutal, unprovoked massacre against Israeli civilians, and has since refused every ceasefire offer that includes the release of hostages and its disarmament.
The protests we now witness inside Gaza, with people bravely calling for Hamas to leave, show that Palestinians themselves recognise who is responsible for their suffering. Israel has no interest in prolonging the conflict; we want to guarantee the safety of our population. But as long as Hamas rules Gaza, peace is impossible — not because of Israel’s actions, but because of Hamas’s ideology of hate and destruction and its refusal of Is-
rael’s right to exist. The international community should stand with Israel in seeking peace and demand that Hamas disarm and release all hostages.
The conflict in Gaza, which has also spread across the wider region, has resulted in significant civilian casualties. It began with Hamas’s attack on young people at a music festival and the taking of hostages, but has continued with a large number of victims – including children – on the Palestinian and Lebanese sides killed during Israeli military operations. Are you concerned about Israel’s international reputation in light of accusations of excessive use of force against civilians, voiced since the launch of operations?
I would like to remind everybody how this conflict started. Israel did not start this war — it was forced upon us by Hamas’s barbaric massacre of 7th October, when Israeli civilians –including young people at a music festival – were murdered, raped and kidnapped. Israel has since acted in self-defence, targeting Hamas’s military infrastructure, which it deliberately hides among civilian areas. Every civilian life lost is a tragedy, whether Israeli or Palestinian. But the responsibility lies with Hamas, which does not hesitate to use its own people as human shields, to hide weapons in schools, mosques and hospitals, and to steal humanitarian aid to rebuild its terror machine. Over 25,000 humanitarian aid trucks entered Gaza during the ceasefire. It is also Hamas aggression that threatens regional stability.
Israel’s actions are guided by international law and a moral obligation to defend its people while minimising harm to civilians. Unfortunately, the silence of many human rights groups regarding Israeli victims, especially the women brutalised on 7th October, reveals a disturbing double standard. Israel will continue to defend its citizens while striving for peace — and calls on the world to help free Gaza from Hamas’s tyranny.
Global Diary
China Strengthens Regional Ties Amid U.S. Trade Tensions
In response to escalating trade tensions with the United States, China hosted the 2025 Central Conference on Work Related to Neighbouring Countries. President Xi Jinping emphasised enhancing diplomatic and economic relations with neighbouring nations, including upcoming visits to Vietnam, Malaysia, and Cambodia. This strategic pivot aims to bolster regional alliances and mitigate the impact of U.S. tariffs.
“In a world that’s more connected than ever, no crisis stays local for long”
Kristalina Georgieva
IMF Warns of Rising Global Financial Instability
The International Monetary Fund (IMF) has raised concerns over increasing risks to global financial stability due to escalating trade tensions and market volatility. In its latest report, the IMF highlighted vulnerabilities in emerging economies and called for improved regulatory oversight to bolster resilience against potential crises.
Europe and Canada Signal Pushback to U.S. Trade Aggression
Following the introduction of sweeping U.S. tariffs, European and Canadian leaders are preparing economic countermeasures. Proposals include retaliatory tariffs and a strategic shift away from U.S. defence deals. The European Commission stressed the need to assert economic sovereignty and protect internal market stability.
“In a crisis, be aware of the danger—but recognize the opportunity”
John F. Kennedy
India-Pakistan Tensions Escalate After Pahalgam Attack
A major terror attack in Pahalgam, Jammu & Kashmir, claimed at least 26 lives. In retaliation, India revoked visas for Pakistani nationals and restricted airspace access. Pakistan responded by suspending the 1972 Simla Agreement and closing its airspace to Indian carriers, raising concerns over regional stability.
Klaus Schwab Resigns as WEF Launches Ethics Probe
The World Economic Forum has launched an internal investigation into its founder, Klaus Schwab, following allegations of misuse of funds and organizational misconduct. Schwab stepped down as executive chair after more than five decades at the helm. Former Nestlé CEO Peter Brabeck-Letmathe has been appointed interim chair as the forum begins internal reforms.
Scientists Detect Possible Signs of Life on Distant Planet
Astronomers have found large quantities of dimethyl sulfide and dimethyl disulfide in the atmosphere of exoplanet K2-18b, located 124 light-years away. On Earth, these compounds are only known to be produced by life, suggesting the strongest evidence yet of potential extraterrestrial life.
Journey Graced by Divine Signs
Making peace requires courage—courage to say yes to encounter and no to conflict; yes to dialogue and no to violence; yes to negotiation and no to hostility; yes to fidelity to agreements and no to provocation; yes to truthfulness and no to duplicity – His Holiness Pope Francis
Like a bolt from the blue, on the morning of Monday, 21st April, at 7:35 a.m., we received the sudden news that Pope Francis had completed his earthly pilgrimage. Although we were aware of his illness and fragility, nothing until the day before had suggested such a sudden and unexpected outcome.
On 13th March 2013, Jorge Mario Bergoglio, Archbishop of Buenos Aires, was elected to the See of Peter, becoming the 266th successor to the Apostle. He was the first Jesuit Pope, the first from the Americas, and the first to take the name Francis, inspired by the Poor Man of Assisi. He was also the first Pontiff in modern times elected following the resignation of his predecessor.
Pope Francis immediately revealed a style marked by simplicity and essentiality. On 14th March, the day after his election, he made a private pilgrimage to the Basilica of Saint Mary Major to
By H.E. Archbishop Santo Rocco Gangemi Apostolic Nuncio to Serbia
pray before the Marian icon Salus Populi Romani. This gesture of devotion would be repeated over a hundred times during his twelve-year pontificate, particularly before and after every apostolic journey. His profound attachment to this sanctuary, also cherished during his time as a Jesuit, led him to choose it as his final resting place, breaking with the centuries-old tradition of papal burial in Saint Peter’s Basilica.
In November 2013, just months after his election, he published the Apostolic Exhortation Evangelii Gaudium, a true “programmatic manifesto” for his pontificate, calling for a new evangelisation marked by joy and a comprehensive reform of ecclesial structures. To this end, he established a Council of Cardinals to assist in the governance of the Universal Church, culminating on 19th March 2022 with the Apostolic Constitution Praedicate Evangelium, which reorganised the
Roman Curia. He also reformed the canonical process for declarations of marriage nullity and reinforced measures against clerical abuse of minors and vulnerable persons. His commitment extended beyond words: through the Motu Proprio Vos Estis Lux Mundi, he introduced concrete structures of accountability and protection.
Pope Francis devoted particular attention to the family, convening an Extraordinary Synod and issuing the Apostolic Exhortation Amoris Laetitia. In his view, the dominant individualism of modern society gravely threatened the rights of families, especially concerning the moral and religious education of children. While upholding the beauty and centrality of the family, he acknowledged with realism the fragility experienced by many, encouraging pastoral accompaniment and paternal closeness, especially for those who were divorced and remarried.
Photo by Juan David Tena
Throughout his ministry, he tirelessly promoted dialogue with Muslims and representatives of other faiths, culminating in historic agreements such as the Document on Human Fraternity for World Peace and Living Together, signed in Abu Dhabi on 4th February 2019 with the Sunni Grand Imam al-Tayyeb. This milestone fostered mutual respect and categorically condemned all forms of violence and terrorism.
Equally unwavering was his commitment to Christian unity. In a profound gesture, he presented fragments of Saint Peter’s relics to the Ecumenical Patriarchate of Constantinople during the Feast of Saints Peter and Paul, affirming in a letter to Patriarch Bartholomew the Church’s journey towards ever-closer communion—an often arduous path, yet one graced by divine signs.
On 12th February 2016, en route to Mexico, he stopped in Cuba to meet Patriarch Kirill of Moscow and All Russia, signing a joint declaration pledging cooperation on global challenges: halting the persecution of Christians, fostering interreligious dialogue, defending migrants and refugees, and upholding life and family.
Pope Francis was deeply moved by the suffering caused by war, particularly the conflicts between Israel and Palestine, and between Russia and Ukraine. He worked personally to foster genuine understanding and peace, constantly reaffirming: “Making peace requires courage—courage to say yes to encounter and no to conflict; yes to dialogue and no to violence; yes to negotiation and no to hostility; yes to fidelity to agreements and no to provocation; yes to truthfulness and no to duplicity.”
Promoting a “culture of encounter” and building bridges free from prejudice were central to his diplomacy of peace. His commitment was further reflected in the Holy See’s signing and ratification of the Treaty on the Prohibition of Nuclear Weapons at the United Nations on 20th September 2017, affirming that “nuclear weap-
Throughout his ministry, he tirelessly promoted dialogue with Muslims and representatives of other religions, culminating in historic agreements such as the Document on Human Fraternity for World Peace and Living Together
ons are based on a logic of fear that affects not only the warring parties but the entire human race.”
Care for Creation and the call to ecological conversion were defining features of his pontificate. In the Encyclical Laudato Si’, he offered a vision of “integral ecology,” interweaving concern for nature, justice for the poor, social commitment and interior peace. He instituted the World Day of
Prayer for the Care of Creation, celebrated ecumenically, urging Christians towards true ecological conversion and responsible stewardship of God’s creation. These themes were expanded in the Apostolic Exhortation Querida Amazonia, outlining new paths for evangelisation and ecological responsibility.
During the COVID-19 pandemic of 2020, Pope Francis remained a steady spiritual presence. His Statio Orbis of 27th March—an unforgettable image of the solitary Pontiff praying in a rain-swept, deserted Saint Peter’s Square—reminded the world that “this is a time to choose what matters and what passes away, a time to realign our lives towards the Lord and toward others.”
In this same spirit, he presented the Encyclical Fratelli Tutti, signed at the tomb of Saint Francis in Assisi, advocating fraternity, social friendship and global solidarity. Once more, he condemned conflict and called on all people to work together in building a better world.
No Pope before him expanded the College of Cardinals to such a degree: in ten consistories, he created 163 cardinals from 73 countries—23 of which had never had a cardinal—of whom 133 are currently eligible to vote in a conclave.
His pontificate—though not extended in years—was intense and transformative. Space does not allow for a complete enumeration of his achievements.
Nonetheless, it is worth recalling his 47 apostolic journeys to 66 countries, and 40 pastoral visits within Italy, covering 49 cities. His missionary zeal is well captured in the words spoken at his funeral: “It is significant that Pope Francis’ first journey was to Lampedusa, an island symbolising the tragedy of migration with its countless drownings at sea. In the same spirit were his visits to Lesbos, alongside the Ecumenical Patriarch and the Archbishop of Athens, and the Mass he celebrated on the Mexico–U.S. border. Particularly memorable was
In a profound gesture, he presented fragments of Saint Peter’s relics to the Ecumenical Patriarchate of Constantinople during the Feast of Saints Peter and Paul, affirming, in a letter to Patriarch Bartholomew, the Church’s journey towards ever-closer communion
his 2021 journey to Iraq, undertaken against all odds. That difficult Apostolic Visit brought healing to a wounded people and greatly contributed to interreligious dialogue. His 2024 journey to four nations in Asia-Oceania reached what he called ‘the furthest peripheries of the world.’”
He celebrated two Jubilees: the Extraordinary Jubilee of Mercy in 2016 and the Holy Year inaugurated on Christmas Night 2024.
And yet, beyond the public dimension, there remains the deeper, more hidden side of his life: his intimate and constant dialogue with the Lord,
the silent spark of holiness that defies full human comprehension.
As believers, lifting our hearts and eyes to heaven, we may say, borrowing the words of a Spanish hymn: “Death is not the end of the journey... and we trust in Christ’s promise, that He has already restored Pope Francis to life and brought him into the light.”
Such reflections must not remain mere remembrance. They call us forward. In this spirit, the words of Cardinal Camillo Ruini, former Vicar of Rome and President of the Italian Bishops’ Conference, are especially fitting. He recently stated:
“The legacy of Pope Francis is a profound question that challenges and shakes the Church,” and he expressed “four hopes for the Church of the future: that it be good and charitable, doctrinally sound, governed by law, and deeply united.”
This wise aspiration must be embraced by all—believers and non-believers alike—who sincerely seek the good, recognising that in the Church’s pilgrimage through history, there is always continuity, even as it remains ever attuned to the signs of the times.
His Holiness Pope Francis with H.E. Archbishop Santo Rocco Gangemi
Resistance Yet to Find Its Political Voice
In a country overwhelmed by multiple crises, both the government and rebelling students and citizens desire a watershed moment – with the first group wanting everything to suddenly return to the way it was, while the second wish for everything to be new. In reality, the road to building a new social paradigm is a painful and slow one, and not only because there’s no one capable of articulating it politically
The road, thus, indicates silent and profound changes that unfold below the surface – without spectacle, but with comprehensive consequences. At the juncture when we’ve gained a new prime minister, but not a clear picture of the future government’s mandate, and when
we’re seeing the growth of both domestic tension and foreign political tensions that have an impact on us, it seems as though the country is convulsing and lacks a clear answer as to how to escape this almost intolerable situation. We asked our interlocutors for this edition of CorD Focus to utilise
various elements of the present to discern the future that awaits us.
Despite it seeming as though the political articulation of discontent is commonplace in all such discussions, a question remains regarding how the new social paradigm we’re striving to establish will look.
Aleksandar R. Miletić historian
Can Student Ideals Be Realised?
Amid economic and geopolitical instability, Serbia’s student-led protests emerge as a rare beacon of principled idealism, though they lack support from a cohesive or sustained opposition movement
Serbia was among the early harbingers of contemporary populism, standing at the forefront of the phenomenon in the late 1980s and throughout the 1990s. The populist agenda has today evolved to become a global trend, embodied by authoritarian-leaning leaders such as presidents Trump, Putin, Orbán, Fico and Erdoğan. In parallel, far-right parties across Germany, France and the UK have gained strength by blending nationalist and xenophobic rhetoric with selective social welfare agendas.
In this broader context, the autocratic tendencies of Serbia’s president are neither novel nor exceptional. They conform to a well-established global pattern, despite the constitutional limits formally placed on presidential power. In that light, the individual backgrounds or professional qualifications of ministers in the newly formed Serbian government are marginally consequential. The prevailing political model operates independently of such credentials.
The recent U.S. sanctions imposed on NIS, the country’s dominant oil and gas company, remain a source of significant uncertainty. The outcome of ongoing negotiations is difficult to predict. However, if fully enforced, the sanctions could deliver a serious blow to Serbia’s already vulnerable economy. In comparison, the introduction of U.S. tariffs on Serbian goods is of limited consequence, given the modest volume of bilateral trade between the two countries.
Against this backdrop of economic unease and geopolitical instability—both domestically and internationally—the student-led protests in Serbia stand out
as a rare beacon of principled idealism. Their persistent calls for accountability, the rule of law and the protection of human rights represent a vital, if isolated, expression of civic resistance. Yet this energy remains largely unaccompanied by any coordinated or sustainable form of political engagement from the parliamentary opposition.
This disconnect may partly explain the caution shown by EU officials and leaders of member states. Rather than risk provoking Serbia’s leadership into a more openly pro-Russian orientation—or into intensified meddling in neighbouring states—they continue to
While the students’ symbolic bike ride to Strasbourg is unlikely to alter the EU’s stance on Serbia, it could boost the movement’s visibility among the Serbian diaspora
uphold the logic of “stabilocracy”: tolerating democratic backsliding in exchange for regional predictability.
In this climate, the students’ symbolic bike ride to Strasbourg is unlikely to alter the EU’s strategic posture toward Serbia in any fundamental way. However, it may succeed in amplifying the visibility of the student movement within the Serbian diaspora and among segments of EU public opinion. That, in itself, is not insignificant.
Milo Lompar Ph.D. professor of the University of Belgrade Faculty of Philology and President of the Serbian Literary Guild
How Much Can We Trust Europe?
A student protest that merges European values with national sentiment has instinctively exposed the falsehoods of both domestic and European politicians. What remains to be seen is whether – and how – this movement will translate into political action
There’s little doubt that the student protests have introduced a new element into Serbia’s closed political system. That system has long relied on a carefully calibrated balance of power between the ruling coalition and the opposition, as well as on the undeniable backing of both Western (predominantly American) and Russian actors in support of the Vučić–Brnabić regime. The student movement, as a new force, has disrupted this status quo. It has presented a moral challenge to those who operate within an entirely amoral context.
The questions raised were starkly simple: who is responsible for the deaths of 16 people in Novi Sad? Which company carried out the reconstruction of the city’s railway station? What political interests underpinned the decisions surrounding that project? And so on. Such specific questions cannot be met with truthful answers without confronting the unpleasant truths of the society in which they arose. What the protests offered was a bleak, yet honest, portrait of the state of the nation.
This regime is sustained by national and political betrayal, domestic and foreign corruption, media monopoly and both mental and physical violence. And yet, it continues to enjoy the longstanding support of European political actors – most notably former German Chancellor Angela Merkel and French President Emmanuel Macron. This indicates that Serbian politicians, who for over two decades have adhered to the mantra that “there is no alternative to the EU”, must now concede the failure of their political platform and reconfigure its foundations. They must shift from absolutism towards a more nuanced and realistic stance.
EU member states prioritise their immediate interests, often at the expense of the very values their officials purport to defend. No notion of legality outweighs the lure of lithium extraction; no human rights principle is stronger than the economic appeal of selling fighter jets; no commitment to media freedom trumps the sale of national banks.
Serbia’s student protests, rooted in a deep-seated respect for both European ideals and Serbian national identity, has instinctively cut through the fog of deception perpetuated by political elites both at home and abroad. From a moral standpoint, it has laid bare the intertwined nature of politics and criminality in Serbia today. Crucially, it has demonstrated that an alternative path is possible – one based on a principled commitment to the rule of law and the development of a genuine, enlightened national policy.
Such a policy must include the defence of Serbia’s national rights and interests in Bosnia and Herzegovina and Montene-
Serbian political actors, who have championed the belief that “there is no alternative to the EU” for over two decades, must now acknowledge the bankruptcy of that platform and radically rethink its direction
gro – in a manner no different to that of other Balkan and European nations. The colonial politics of guilt, elevated to the point of absurdity under the Vučić–Brnabić administration, must come to an end – particularly as it has been cynically instrumentalised by those very same actors.
It remains uncertain whether the intuitively powerful stance taken by students will give rise to authentic political representation. That would require a reshaping of the political landscape – a landscape that many, both within Serbia and beyond its borders, are heavily invested in preserving. The picture is murky. And so too, it seems, is our future.
SOgnjen
Gogić
Political Scientist
No One Has a Magic Wand
The exit from Serbia’s collective paralysis doesn’t lie in a dramatic gesture by any one side, but in the shift in consciousness sparked by the country’s youth
erbia isn’t receiving a new government in the true constitutional sense of the word. It is rather witnessing the appointment of a new cabinet under the continued authority of President Aleksandar Vučić. As with the previous administration, this one will serve as his extension – lacking genuine autonomy or accountability. The key question, therefore, isn’t whether the new government, formally headed by Dr Đuro Macut, will be capable of taking on the numerous challenges ahead, but rather how President Vučić will choose to address them.
The challenges confronting Serbia are both internal and external. The government is already grappling with a serious sociopolitical crisis, and it seems increasingly likely that an economic crisis will soon follow. External pressures – such as sanctions against NIS and the prospect of U.S. tariffs – coupled with internal instability that continues to stifle economic activity, are creating the conditions for a new and deeper phase of crisis. Global turbulence only exacerbates the fragile position in which Serbia finds itself.
Viewed in terms of prevailing trends, the prognosis for the current political order is stark. The collapse of the railway station canopy in Novi Sad, followed by the eruption of student and civil protests, has triggered a process of systemic implosion and erosion that appears irreversible.
As we search for a way out of the crisis we so desperately wish to overcome, we must first dispel a dangerous illusion: that some magical instant solution exists. It does not! No single action – whether taken by those in power, the opposition, student groups or international actors – will be
sufficient to put things right. What we are experiencing is a process. As a society, we are undergoing a transformation that we are not yet fully capable of comprehending – as is often the case for those living through historic moments. Only in hindsight will we be able to make sense of it all. A new social paradigm is being born.
There is, however, a source of hope: the students themselves. They are showing us the direction in which we must move. The road ahead will be anything but easy. In fact, we are likely facing a period of hardship, including a decline in living standards. Patience will be required – perhaps
The government is already grappling with a serious sociopolitical crisis, and it seems increasingly likely that an economic crisis will soon follow
more than we are presently prepared to accept. Yet, there is a light at the end of the tunnel.
So, when we ask how we can escape this stifling deadlock, the answer does not lie in some spectacular move that we strive to imagine. It rather lies in something more powerful and far-reaching: the shift in awareness driven by the country’s youth. The current system of sociopolitical relations will collapse of its own accord, and we will begin building something new on its ruins. And that, too, will not be easy.
Vladimir Pavićević Political Science Ph.D.
The Macut Government Will Be Short-Lived – Snap Elections Await
In anticipation of early elections, I propose that President Vučić also resign, allowing both parliamentary and presidential elections to be held on the same day, before year’s end
Serbia has been mired in a profound sociopolitical crisis for more than six months.
Following the collapse of the canopy at the Novi Sad railway station and the tragic deaths of 16 people, students across the country brought the work of many colleges to a halt, demanding justice and accountability. When Serbia’s prime minister resigned in late January, the mandate of his government formally ended, and the political crisis deepened. The country looked to the formation of a new government and the appointment of a new prime minister who would demonstrate a willingness to lead Serbia out of this crisis. However, Serbia has not been given a government capable of fulfilling that role.
Dr Đuro Macut may well be a respected figure within his academic field, but he does not command the kind of authority within Serbian society that is necessary to help bridge its deep divisions and guide it towards a resolution. From the moment it became evident that Dr Macut was to take on a more prominent political role, it was immediately clear that his work would remain overshadowed by the authority of the President of the Republic. His address to MPs in presenting his exposé in the National Assembly only confirmed this perception.
At this critical juncture, Serbia needed a prime ministerial candidate with the integrity and independence to rise above party divisions – and even above the influence of the president – to guide society towards reconciliation and full transparency and accountability regarding the Novi Sad tragedy. Đuro
Macut is not the right person for such a task. The opportunity to initiate a broad-based dialogue and steer Serbia towards stabilisation has been missed. Instead of heading towards consensus, Serbia has received a government that faces a deepening crisis – one that is, with time, drawing greater attention from the country’s international partners.
The prevailing sentiment is that the Macut government will be short-lived. It is quite possible that Serbia will head to the polls again by autumn. Should
At this critical juncture, Serbia needed a prime ministerial candidate with the integrity and independence to rise above party divisions – and even above the influence of the president – but that’s not what we received
that happen, I propose that President Vučić also tender his resignation, allowing for both parliamentary and presidential elections to be held on the same day, prior to the end of this year. The situation we are now facing calls for a renewed mandate across all key political institutions. Anyone resisting such a move would, in effect, be signalling a fear of the electorate’s will. And anyone calling for a boycott on the grounds of unfair electoral conditions would be admitting that they are not yet ready for the contest.
Business Dialogue
LEADERS’ MEETING POINT
University – Asset Management, Reform and Role in Society
Prof. Dr Danilo S. Furundžić
M.Arch., Executive Director of the Foundation for Solving the Housing Needs of Young Scientific Researchers of the University of Belgrade
The proposed University Centre in Block 32 is one of the most ambitious projects in the contemporary development of higher education in Serbia. Conceived as an open, integrated and multifunctional complex, this centre is designed to respond to the evolving needs of the modern university – to be more than merely a place of learning, and to develope into a dynamic urban hub of knowledge, collaboration and innovation. The urban development concept for Block 32 envisages the creation of a new space uniting educational, research, cultural and social functions. In place of the traditional image of a University as a closed system, this centre is envisioned as a spatially and functionally porous organism – a campus open to the city, accessible to citizens and integrated into the everyday life of the community
Danilo S. Furundžić, Associate Professor at the Faculty of Architecture of the University of Belgrade, is an expert in investment consulting and project management. He has successfully combined practical experience with theoretical knowledge to enhance the public sector for many years, and regularly shares his expertise with both the professional and academic communities. His accolades – including the Vuk Karadžić Diploma from the Mathematical Grammar School, the “Student of the Year” title from the Faculty of Architecture, the Serbian Chamber of Commerce’s Award for Best Doctoral Thesis, and the “Captain Miša Anastasijević” Charter for outstanding management in public entrepreneurship – testify to his unique blend of competence and dedication. Over the course of his career, he has led numerous strategic infrastructure projects, restructured municipal enterprises to improve cost-efficiency, and focused extensively on public-sector architecture. Owing to his management expertise, he was entrusted with overseeing the Foundation for Solving the Housing Needs of Young Scientific Researchers of the University of Belgrade, as
well as the restructuring of the Rectorate’s Endowment and Funds, managing the University’s entire property portfolio.
What role does the University of Belgrade play in contemporary society?
— As the oldest scientific and educational institution in Serbia, the University of Belgrade has for decades held a key role –not only within the education system, but in the broader societal context. At a time when students are increasingly taking ini-
tiative and becoming active political actors, university autonomy has become a crucial factor in safeguarding democratic values. However, to preserve and strengthen this role, a modern restructuring of the system and the enhancement of institutional capacities is essential. Recent events have shown that, while the Bologna Process improved networking between faculties, it also centralised funding, thereby increasing influence but reducing some aspects of institutional independence.
What responsibilities have been entrusted to you within the University? — I was given a highly complex expert assignment – to establish and modernise the University of Belgrade’s property management system, which is one of its most valuable assets. This encompasses 36 faculties, student centres, Studentski grad (the campus of the University of Belgrade), the University Library, endowments, monetary foundations, a housing foundation, as well as property currently under restitution. In order to provide institutional legitimacy to this undertaking, I was appointed as University Manager, and subsequently as Director of the Housing Foundation. I was also tasked with re-
structuring the Endowment and Fund Department and various legal entities under its umbrella.
What results have you achieved so far?
— We have completed the digitalisation of property records, established greater oversight over the most valuable assets, and initiated reforms in management practices.
and used efficiently in line with our mission of education and research.
What is your key upcoming project?
Amendments to the University Statute introduced a requirement for a University representative to sit on boards of directors, thereby strengthening control over strategic processes. The University must be equipped to meet contemporary challenges – property must be clearly documented, accessible
What will this project mean for the future of the University of Belgrade?
The University Centre offers the University of Belgrade a chance to define a new symbol – not just in physical terms, but also as a conceptual beacon for a society rooted in knowledge, innovation and cooperation. Alongside facilities dedicated to higher education, the centre will also host complementary amenities that enhance urban quality of life – including student accommodation, cultural and artistic venues, social innovation hubs, as well as hospitality, commercial and leisure capacities. In this way, the University Centre at Block 32 becomes more than a piece of infrastructure –it becomes a space of ideas, open to the future, bridging academic excellence with the life of the modern city. This project has the potential to serve as a model for university campus development across the region and as a catalyst for redefining the relationship between the University and society at large.
— One of the most important current projects is the planning of the University Centre in Block 32 – identified as a strategic point for the future academic and urban development of Belgrade. The goal is to integrate education, research, innovation and student life through modern educational facilities, research centres, start-up zones, cultural amenities and student infrastructure. Located between the city centre and New Belgrade, Block 32 is conceived as a new nucleus of academic synergy – a space that links knowledge, practice and interdisciplinary collaboration. The project involves a new architectural typology, flexible infrastructure and green areas that open the University to the wider community.
Why is the realisation of such a complex undertaking so important?
— The University Centre in Block 32 represents a transformative opportunity for the future of higher education in Serbia. Its design transcends the traditional notion of the university, aiming instead to become a vibrant urban centre of knowledge, cooperation and innovation. Central to the project will be modular, energy-efficient buildings designed according to principles of contemporary architecture and sustainability. The centre will encompass teaching spaces, laboratories, research institutes, student services, start-up incubators, co-working zones, libraries, cultural halls, as well as public squares, parks and recreational areas. Particular attention will be given to the spatial identity of the future campus. Its architectural language will be carefully integrated into the existing urban fabric, while sending a clear signal of modernity, knowledge and openness. The complex will encourage interdisciplinary engagement, encounters and the exchange of ideas – both among students and academics and between the University and the wider public.
Prof. Dr Danilo S. Furundžić
MediGroup Becomes Part of the Finnish Mehiläinen Group
Dr. Max Group has invested approximately €120 million in Serbia to date
Miloš Jauković CEO, Dr. Max Serbia
Schott Pharma Launches Major Ampoule Plant in Serbia
MediGroup, the largest private healthcare system in Serbia, together with the Regina Maria network, a leader in the quality of medical services in private healthcare in Romania, announces the largest transaction in the market of the private healthcare sector in Central and Eastern Europe. These two systems join the Mehiläinen Group, the largest private healthcare system in Finland, with more than 115 years of experience in medicine and a growing international presence. Mehiläinen Group takes over 100% ownership in the MediGroup and Regina Maria systems, which marks the exit of investors MidEuropa and Blue Sea Capital from the ownership structure.
Belgrade Airport Soars
Belgrade’s Nikola Tesla Airport has firmly secured its place among Europe’s fastest-growing airports, with over 1.6 million passengers passing through its gates in the first quarter of 2025—a 56% leap compared to the same period in 2019. Though yearon-year growth is modest at 0.4%, it mirrors a continent-wide aviation recovery, with VINCI Airports, which manages Belgrade Airport, reporting a 6% increase across its global network. Fuelled by a dynamic expansion strategy, Belgrade Airport has unveiled new routes to Shanghai, Florence, Sardinia, Tbilisi, and Mykonos, alongside seasonal flights to Rodos and new Wizz Air services to Alicante and Friedrichshafen.
German company Schott Pharma announced it had opened a new production facility in Jagodina, Serbia, stating the plant would become the largest manufacturer of ampoules in Europe. The firm reported that construction began in December 2023 and that they planned to employ 180 people by year’s end. Executives said the investment would enhance their competitiveness in the injectable drug packaging market and secure supply chains amid rising global tariffs.
H.E. Peter Truswell
New Ambassador of Australia to Serbia
His Excellency Peter Truswell, newly appointed Australian Ambassador to the Republic of Serbia, holds Bachelor of Laws and Bachelor of Arts degrees from the University of Sydney. He was accredited as Ambassador to Serbia in April 2025 and is concurrently Ambassador-designate to the Republic of North Macedonia and to Montenegro. Ambassador Truswell’s first foreign posting was to Australia’s Mission to the United Nations in Geneva, where he served from 2001 to 2004. From 2011 to 2014, he was Political Counsellor to the Republic of Korea, based in Seoul, with additional accreditation to the Democratic People’s Republic of Korea (North Korea), which he visited on five occasions. He later served as Deputy Ambassador to Afghanistan, based in Kabul from 2019 to 2020.
Within the Department of Foreign Affairs and Trade, Ambassador Truswell has held a number of senior positions, many of which have focused on strengthening Australia’s strategic partnership with India. Most recently, he led the India Economic Roadmap Taskforce, which developed new directions for the bilateral economic relationship and was formally launched by Prime Minister Albanese earlier this year. He has also served as Director of the India Economic Section and of the India Political Section. From 2021 to 2023, he was Australia’s Consul-General in Mumbai, where he helped advance trade and investment ties.
Ambassador Truswell speaks Italian and is the father of two university-age children.
H.E. Frederik Develter
new ambassador of the Kingdom of Belgium to the Republic of Serbia
Born 4th July 1968, Belgium’s new ambassador to Serbia earned Master’s degrees in finance and international relations before embarking on a career in the private sector as an accountant/financial administrator (1992-98). He joined the Belgian MFA in 1999 as a diplomatic service trainee, receiving his first foreign posting in 2002 as First Secretary at the Embassy of Belgium to Romania (2002-06).
Other positions he has held include First Secretary at the Embassy of Belgium to Ukraine (2006-09), Counsellor in the Trade Section of the Belgian MFA (2009-12), Counsellor at the Embassy of Belgium to the Czech Republic (2012-16), Counsellor/Deputy Head of Mission at the Embassy of Belgium to the Kingdom of Norway (2016-20) and Deputy Director of the Neighbouring Countries Directorate at the Belgian MFA (2020-22). Prior to arriving in Belgrade, he served from 2022 to 2025 as Deputy Head of Mission at the Embassy of Belgium to Ukraine. Apart from his native Dutch, Ambassador Develter also speaks French, English, Spanish, Russian and German.
He is a married father of three children.
H.E. Slobodan Šešum
new ambassador of the Republic of Slovenia to the Republic of Serbia
Born 28th April 1980, Slobodan Šešum studied political sciences and international economics in Ljubljana and Rijeka, earning his Ph.D. in International (Economic) Relations at the University of Ljubljana in 2016. After working at Ljubljana’s Centre for International Cooperation and Development (2004-06), he joined Slovenia’s MFA and became III Secretary of its Department for Economic Diplomacy (2006-08).
His was appointed Economic Counsellor at the Slovenian Embassy in Skopje, responsible for North Macedonia and Albania (2008-10), after which he became Economic Counsellor and I Secretary at the Slovenian Embassy in Belgrade.
Following three years in the private sector at KBM Bank Serbia (2013-15), he returned to the MFA as Minister Counsellor and Head of the Department for Bilateral Economic Cooperation, Directorate for Economic and Public Diplomacy (2015-17), followed by another foreign posting – as Economic Counsellor at the Slovenian Embassy in Rome, responsible for Italy, Libya, San Marino, Malta and Tunisia, and simultaneously as Deputy Permanent Representative to the FAO and WFP. Prior to taking on the post of ambassador in Belgrade, he served from 2021-25 in the MFA’s Directorate for Economic and Public Diplomacy.
Ambassador Šešum is a father of one son. Apart from his native Slovenian, he is fluent in Italian, English, Serbian and Macedonian, while he also has a basic understanding of German and Russian.
H.E. Nebojša Đoković
new Ambassador of Montenegro to Serbia
Nebojša Đoković has been appointed as the new Ambassador of Montenegro to the Republic of Serbia. He holds a Master’s degree in Economic Sciences, obtained from the Faculty of Economics in Podgorica. Prior to this appointment, he served as Economic Affairs Adviser at the Association of Banks of Montenegro. Mr Đoković has spent the entirety of his professional career in the banking sector. He was previously engaged with the National Bank of Yugoslavia and subsequently with the Central Bank of Montenegro, where he worked as a banking sector supervisor. He has also held the position of internal auditor at Hipotekarna Banka.
He is the author of the book Banking of Montenegro, and has published approximately twenty professional papers in specialised journals across the Balkan region. He has participated in numerous seminars and scientific conferences focused on banking and finance. In addition to his extensive financial expertise, Mr Đoković has also served as both Chairman and, subsequently, Member of the Board of Directors of Airports of Montenegro. He is married, a father of four, and proficient in English.
BAT’s Growing Success in Serbia: The Future Lies in Smokeless Products
Tadeu Marroco BAT Chief Executive Officer
TTadeu Marroco has been BAT’s Chief Executive since May 2023, following his role as Finance Director from 2019. Since joining BAT in 1992, he has held various leadership roles and contributed to key transformation and acquisition initiatives. On his professional road he has encountered many different cultures, experiencing wide range of markets, each of which had its own challenges and opportunities, enlightening diversity of the business.
During his visit to Serbia, Marroco highlighted the BAT’s excellent performance in the market and emphasized Serbia’s significant role within the Group.
BAT has been successfully operating in Serbia for more than two decades and the Vranje factory delivering great results. What role does Serbia play in BAT’s global strategy?
— I’m truly pleased that during my visit I had the opportunity to confirm that Serbia plays an important role within the BAT Group and is recognized as one of the most promising and strategically significant markets in the region. Since the acquisition, which is still regarded as one of the most successful in Serbia, BAT has invested over 280 million euros in the factory located in Vranje. Furthermore, BAT employs more than 700 people in Serbia and has contributed over 4.5 billion euros to the Serbian budget through taxes and excises.
At the same time, factory in Vranje stands as one of the key facilities within the BAT Group, distinguished by its exceptional performance and recognized as the only European factory to have received the prestigious Global Award for Excellence in Quality for four consecutive years.
The importance of the Serbian market to our company is also underscored by the fact that in November last year we chose Serbia as the launch site for our latest innovation from the heating products category HILO and HILO Plus. This visit has provided an opportunity to gather valuable insights and define our future plans, particularly given Serbia’s significant role in our focus on new generation product categories. Our long-term goal is to predominantly produce smokeless products by 2035, and Serbia, alongside the Adria Cluster, is integral in realizing this ambitious vision.
During your visit to Serbia, what are your impressions of how consumers are responding to BAT’s new category products?
— We are fortunate that the future of smokeless products has started in Serbia and we believe that this moment is crucial in shaping a new era for the consumption of next-generation product. The response to our latest devices HILO and HILO Plus, which was first introduced to the Serbian market, has been more positive than ever before. All the data we’ve gathered shows that consumers recognize the innovation we’ve brought to the market, which motivates us to continue improving our products.
Technology has given us the tools to provide adult consumers with better alternatives to cigarettes and our brands like Velo, Vuse and Glo Hilo are not only innovative. They are built on trust and transparency in our product quality.
Photo by BAT
Could you tell us more about the Omni platform and how it reflects BAT’s long-standing commitment to tobacco harm reduction?
— As a resource, Omni brings together hundreds of independent scientific studies, BAT’s own research into its innovations, and examples of Tobacco Harm Reduction (THR) in action, such as Sweden, which is on the cusp of becoming the first country to go smokeless, as defined by the World Health Organization.
The platform is crafted as an evidence-based manifesto through an unprecedented collaboration, and it’s open to everyone interested in the science and regulatory foundations of THR. Additionally, Omni is designed to address key information about smokeless products.
Also, we have strict measures in place to prevent underage access to tobacco and nicotine products, ensuring that our products are only available to adults.
For those interested in knowing more we created https://asmokelessworld.com/gb/en where Omni can be downloaded.
Sustainability in line with ESG standards is one of BAT’s key focuses. What are the latest highlights and achievements in this area?
— Sustainability is a core part of our Group transformation strategy, and we are proud
to be one of the global leaders in terms of the ESG agenda. We are working hard to fulfill the global ambition of achieving carbon neutrality by 2030, as well as ensuring that by 2050, the entire value chain of the group will be carbon neutral. When it comes to ESG goals in Serbia, the factory in Vranje has been achieving outstanding results year after year.
Our factory in Vranje received a certificate for carbon neutrality (Carbon Neutral Factory for scope 1&2 emissions) and a certificate for sustainable water resource management (Alliance for Water Stewardship). We have also set extremely high standards locally in water and waste management, as well as in worker safety protection.
Sustainability and inclusion are deeply interconnected, guiding our efforts to create a responsible, equitable, and forward-thinking business climate. By fostering a diverse and respectful work environment where all our employees feel valued and heard, we strengthen our responsibility and ethical governance. Integrating inclusion into our ESG framework helps us build stronger teams, drive innovation, and ensure long-term positive impact on both people and environment.
For BAT, embedding sustainability into its operations isn’t just good ethics, it’s good business. That’s exactly why I’m glad that BAT has been so successful in this area in
Serbia, and I truly believe we will achieve even greater results in the years to come.
What are BAT’s future plans on a global scale, and what would you consider the key focus areas moving forward?
— In the last three years, BAT has invested more than 1.4 billion EUR in the development, commercialization and scientific research of new products. This is part of our ongoing commitment to transforming the company and advancing our purpose to build A Better Tomorrow. Looking ahead, our ambition is to deliver 50 % of our revenue in Non-Combustible products by 2035. We are focusing heavily on research and development, expanding into new markets, and continuously innovating to offer healthier alternatives to traditional tobacco products. This transformation is a key part of our long-term strategy to create sustainable, consumer-focused solutions while also reducing the environmental impact of our operations.
To conclude - our success globally is built on the strength of our people, exactly like I saw here in Serbia. We take great pride in our highly skilled employees, whose commitment makes our achievements possible. Their dedication at every level drives our ongoing growth, enabling us to uphold the highest quality standards while continually investing in employee development and wellbeing.
by Dusan Petković
Photo
Business Dialogue
“We are in a ‘golden age’ for exploration, where technology is unlocking new potential in mining“
Laura Tyler CEO of Adriatic Metals Plc
BYD Drives Into Croatia
In a move set to shake up Croatia’s rapidly growing electric vehicle market, Chinese automotive powerhouse BYD (Build Your Dreams) has officially entered the fray, opening its first showroom in Zagreb on 23rd April. The new salon, located on Savska Street, takes over the former Tesla showroom, positioning the brand at the heart of the city’s automotive pulse. BYD, which has already seen significant success across Europe, will offer an array of electric saloons and SUVs, further intensifying competition in a market already gaining traction with brands like MG and Dongfeng.
Australia’s Chic Hotel Brand Makes Slovenian Debut
Slovenia’s capital is set for a stylish shake-up as Tribe, the bold Australian-born hotel brand, makes its regional debut in Ljubljana by late 2027. Developed by Mendota Invest—backed by Hungary’s OTP Bank—this design-forward, four-star hotel will anchor the new Emonika commercial complex adjacent to the future passenger railway hub. Accor’s edgy Tribe brand, launched in 2017 by Melbourne duo Mark and Melissa Peters, is now spreading its urban elegance through a partnership with Latvia’s Mogotel Hotel Group.
Montenegro Stars Hotels Group
Delivers Record Year
In a year marked by global economic headwinds, Montenegro Stars Hotels Group has delivered a sterling performance, posting record revenues of €29.38 million—a 7% rise year-on-year—and net profits of €1.83 million, up 8% from 2023. Operating the renowned Splendid, Montenegro, and Blue Star hotels in Budva, the group has balanced growth with strategic investment and workforce expansion. Despite a 9% rise in expenditures, EBITDA rose modestly to €6.26 million, indicating resilient core operations.
“The Green Agenda for the WB includes everything from cutting pollution to making sure our industries are competitive in a greener future“
Amer Kapetanović Secretary General of the Regional Cooperation Council (RCC)
Končar Secures €1.1bn Deals in Middle East Push
Croatian engineering powerhouse Končar has secured over €1.1 billion worth of projects across the Middle East. Announced during the region’s leading energy innovation expo in Dubai, the deals mark a pivotal chapter in the company’s aggressive push beyond Europe. At the heart of the expansion is a strategic focus on the green transition, with Končar showcasing its cutting-edge technologies in electricity generation, transmission, and precision component manufacturing.
Ljubljana–Düsseldorf Route Launch
Slovenia’s capital has gained a new connection to Germany as Eurowings, part of the Lufthansa Group, announced the launch of regular flights between Ljubljana and Düsseldorf. The airline revealed that the route would operate three times a week—on Tuesdays, Thursdays, and Saturdays— until late October, using Airbus A319 and A320 aircraft. The first flight was welcomed at Ljubljana Airport on 12 April, with officials highlighting that the route’s launch was made possible through state subsidies.
Slovenia’s Fuel Price Freefall
Slovenian drivers are in for a welcome surprise: from April 23, fuel prices across the country will fall to their lowest levels in over a year. The Ministry of Environment, Climate and Energy announced that regular unleaded petrol sold outside motorways will drop by 7.8 cents to €1.417 per litre, while diesel will fall by 8.1 cents, settling at €1.443. These prices, valid until 5 May, are part of Slovenia’s regulated pricing model for non-motorway stations.
WNew Era of Office Buildings in Novi Sad
Duško Suvajac Principal Representative of the Project Investor, MD Ventures
Situated in the heart of Novi Sad’s future Central Business District, Elleven is a new project by MD Ventures that introduces sustainable architecture, an inspiring working environment and a new standard in commercial property. Conceived to connect people, empower companies and contribute to the city’s ongoing development, Elleven represents a bold new chapter in Novi Sad’s urban evolution
e spoke with Duško Suvajac, Principal at MD Ventures, about the vision behind Elleven, the values shaping its design, and the significance of the project for Novi Sad’s business landscape.
Novi Sad is set to welcome a new Class A office building – Elleven. What inspired this project?
— Our vision was clearly defined: to offer Novi Sad – a city already recognised as Serbia’s and the region’s leading IT hub – a business facility that not only follows but actively fuels its development. Elleven was conceived as much more than a conventional office building. It is a space that brings together innovation, sustainability and a premium work environment, designed to inspire people, strengthen businesses, and connect the community.
What sets Elleven apart from what currently exists on the market?
— Elleven represents a new benchmark in office development in Novi Sad – sustainable, purposefully designed and aligned
with the evolving needs of modern businesses and professionals. With a combination of contemporary architecture, superior construction quality and advanced building management systems, it offers enhanced functionality and environmental responsibility. The building has been awarded the LEED Platinum certificate, the highest international standard for green buildings. Additional features in-
clude eco-mobility initiatives, biodiversity support, recycling, smart rainwater usage and a host of amenities aimed at supporting both physical and mental well-being.
The location at Hajduk Veljkova 11a has been highlighted as a key advantage. What makes it so strategic?
— Elleven is positioned at the core of what will become Novi Sad’s Central Business District, sending a clear signal about the area’s future growth. It lies just 1.8 kilometres from the city centre, next to the Novi Sad Fair, and offers direct access to both the main railway and bus stations. In addition to excellent connectivity, the surrounding area boasts major cultural and tourist attractions, alongside a vibrant selection of cafés and restaurants. Such an urban setting supports not only daily business operations, but also provides an ideal backdrop for networking, informal meetings and professional collaboration – all essential to contemporary business development.
Plans also include transforming the green spaces within the complex through initiatives such as the “Park of Friendship”, collaboration with a local equestrian club, and refined culinary concepts – all of which will contribute to the transformation of the broader Sajmište area into a dynamic and multi-functional urban zone.
Duško Suvajac
Could you tell us more about the amenities Elleven will offer future tenants?
— Elleven will comprise ten floors, with a total of 22,000 m² of leasable space. Flexible units ranging from 350 to 2,200 m² per floor will allow tenants to adapt the space in line with their development strategies and business evolution.
The project includes two spacious rooftop terraces and a two-level underground garage with 290 parking spaces, 50 of which will be equipped for electric vehicles. Charging stations for electric bicycles and scooters will also be available, promoting sustainable mobility.
Among its distinctive features is a non-standard office ceiling height of 3.7 metres, which ensures abundant natural light and a sense of openness. This makes
With an investment of 50 million euros, the project is being developed by MD Ventures and is expected to be completed by January 2026
Elleven unique in Novi Sad and rare even across the broader regional market, including Belgrade.
Your partnership with MPC Properties seems particularly significant. What does it bring to the project?
— Partnering with MPC Properties marks a major milestone in the realisation of Elleven. As one of Southeast Europe’s leading commercial property developers and service providers, MPC ensures the implementation of the highest standards in property and facility management, as well as in overall user experience. This collaboration will reinforce Elleven’s position as a premium business address in Novi Sad. We are also proud to have NLB Komercijalna Banka as our financial partner, further affirm-
ing the project’s credibility and long-term value for the community.
How do you see Elleven’s role in the future of Novi Sad?
— I believe Elleven will become a new city landmark – not just in a physical sense, but
as a symbol of progress. It will serve as a meeting point for forward-thinking professionals, innovative companies and people eager to shape change. Novi Sad deserves a development like Elleven to further consolidate its role as a regional leader in technology, creativity and business.
BeyondBuzzwords
Digital transformation is no longer a trend – it is a strategic imperative. As businesses across Serbia seek smarter, more resilient ways to operate, solutions rooted in practicality, trust and long-term impact are setting new standards
From collaborative platforms and AI-powered editors to custom-built business systems, today’s smart tech solutions are not just about innovation – they are about relevance. In a market saturated with promises, success belongs to those who deliver functionality without friction, and transformation without theatrics.
Companies like ONLYOFFICE and SRC exemplify a grounded, effective approach to digitalisation. With more than 15 million users globally, ONLYOFFICE has emerged as a robust alternative to mainstream office suites, thanks to its open-source philosophy and flexible deployment. As Sales Director Galina Goduhina highlights, the company’s rapid global expansion is driven not by hype, but by adaptability, user trust, and a deep understanding of how real teams work –from developers and SMEs to public institutions. Their solutions are designed to serve, not to impress; to empower, not to overwhelm.
Meanwhile, SRC’s story is a powerful reminder that behind every “smart solution” must stand a team that understands complexity but delivers simplicity. As COO Nemanja Vujadinović puts it, SRC doesn’t build systems no one uses – it creates tools that make sense from day one. In their world, the end user is king. Measurable impact, clarity of purpose, and human-centred design guide every project. Their vision of success? Seeing a client return – not because they must, but because they want to.
What these companies share is a resistance to digital dogma. Neither confuses innovation with novelty. They don’t chase trends for the sake of appearing modern. They invest in solutions that work –for the client, the community, and the future. They also share another crucial insight: that digital transformation is not just a matter of systems and tools, but of culture, process, and long-term thinking.
In Serbia, where digital maturity is growing but still uneven, these stories are both inspiring and instructive. They show that there is room – and real need – for meaningful transformation, for partnerships based on trust, and for technologies that respect complexity without adding to it.
As we enter a new phase of digital business evolution, smart no longer means flashy. It means thoughtful. It means scalable, secure, human-driven. And above all, it means knowing that at the end of every code line, interface or automation, there’s a person whose job — and day — can be made better.
Innovation, Open Source and a New Era of Productivity
Galina Goduhina Commercial Director at ONLYOFFICE
With more than 15 million users worldwide, ONLYOFFICE has emerged as a leading alternative to traditional office suites. Its focus on innovation, open-source collaboration, and market adaptability continues to drive its expansion into new regions, including Serbia
Built on the principles of openness and constant innovation, ONLYOFFICE continues to attract individuals, businesses, and developers alike. Speaking with Galina Goduhina, Sales Director at ONLYOFFICE, we discuss the strategies behind the company’s growth, the importance of open-source technologies, and the evolving role of artificial intelligence in their solutions.
ONLYOFFICE is now used by more than 15 million people worldwide. Was reaching such a wide user base made possible by diversifying your product offering and business models? Would you say this naturally leads to further expansion of your client base and market reach?
— Absolutely! Our growth stems from strategic diversification. ONLYOFFICE caters to a wide audience, including individuals, businesses, developers and integrators, educational institutions, and the public sector, offering tailored solutions for each. Flexible deployment options, such as cloud SaaS, self-hosting, and desktop apps, ensure we meet diverse user needs for convenience, privacy, or customisation.
This adaptability drives organic growth, as users frequently recommend ONLYOFFICE to colleagues or partners. Coupled with global partnerships, this approach helps us enter new markets and expand in existing ones, fuelling growth across industries and regions.
ONLYOFFICE is currently considered the leading alternative to MS Office and Google Docs. Is it true that the number of users
and developers choosing ONLYOFFICE has been steadily increasing year after year?
— That’s correct, and we’re proud of this growth. The ONLYOFFICE ecosystem consistently expands its user base and developer community, reflecting our quality and innovation.
Our open-source approach fosters collaboration and flexibility, attracting developers who enhance and evolve the platform. This openness creates a loyal community and accelerates development.
Users and organisations value ONLYOFFICE as a robust, feature-rich alternative to mainstream office suites. Key benefits such as advanced co-editing, wide format compatibility, seamless integrations, robust security tools, and freedom from reliance on tech giants consistently make our solution the preferred choice.
Would you say that the shift towards open source in Serbia is a natural part of adapt-
ing to evolutionary trends and innovations in the IT industry – something that is clearly a core priority in your business approach?
— In a world where technology is constantly evolving, Serbia stands out—not just for its growing IT sector, but for the incredible spirit of its people: smart, driven, creative, and community-minded.
At ONLYOFFICE, we believe open source is about more than software. It’s about freedom, collaboration, and trust. And in Serbia, we see those values every day—in the developers, the startups, the students, and all those shaping a digital future with pride and purpose.
We’re honoured to support Serbia with tools that empower, adapt, and grow alongside its vision.
It’s been several years since the initial implementation and integration of artificial intelligence into ONLYOFFICE solutions. To what extent, and in what ways, is AI now utilised within your company?
— As one of the most prominent technological trends, AI integration has been a major focus for us, enhancing ONLYOFFICE with smarter, more efficient tools. For now, users can securely connect any AI assistants, including local and custom ones, assign models to specific tasks, and access all features conveniently via the dedicated AI tab in the editors.
Official project website: www.onlyoffice.com
Contact Galina Goduhina via LinkedIn: www. linkedin.com/in/galina-goduhina-64657523
Reality Over Templates
Nemanja Vujadinović COO of SRC
How SRC builds digital solutions that truly transform businesses – Interview with Nemanja Vujadinović, Chief Operating Officer at SRC
In a time when businesses are overwhelmed with IT solution offerings, it’s harder than ever to find a partner who truly understands real-world business challenges. Nemanja Vujadinović, COO of SRC, shares how the company transformed itself from within, built strong, trustbased client relationships, and established standards that deliver measurable results – without hype or empty promises.
How would you describe SRC’s journey over the past few years?
— Over the past few years, SRC has remained firmly focused on continuous growth – organisationally, professionally, and through the value we deliver to our clients.
Our everyday efforts are dedicated to improving internal processes, strengthening our teams, and providing real, sustainable support to our partners. Being part of a broader business group with headquarters in Slovenia provides us with additional opportunities for knowledge-sharing and regional collaboration, which helps us grow even stronger.
Every new challenge we take on is an opportunity to push ourselves further – and that’s precisely the mindset that drives us forward each day.
If you had to sum up SRC’s core value to clients in one sentence, what would it be?
— We build real solutions. And by “real”, I mean solutions that bring tangible, prac-
At the end of the day, what really matters is why we do what we do. If the client feels real value, and we know we helped them move forward – then the work has meaning. That’s what keeps us going – knowing that behind every system, there are real people
tical results – they automate, simplify, and digitise. We don’t create overly complex systems no one uses. We deliver tools that demonstrate value from day one.
How would you describe your current relationships with clients?
— It’s a partnership. We don’t just support – we guide.
The knowledge and experience we bring help our clients make better-informed decisions. Often, they don’t fully grasp the value of what we’re proposing at first. But once the solution goes live, everything becomes clear.
And when you know you’ve helped them move forward – even if they don’t immediately say so – that’s priceless.
Today, many of our clients have become our strongest ambassadors – a true reflection of the trust and value we build together.
How do you decide which projects and clients to invest extra energy into?
— For us, it’s all about “the end of the day”. When you pause and evaluate the result –
is what we’ve created truly worth the time, effort, and energy?
And here, we’re not just thinking about ourselves, or only the client – but also the end user.
The person who may never know we exist, but whose everyday activities are now simpler, faster, and more efficient because of what we’ve built.
We don’t work for applause – we work for real impact.
If both the client and the end user are satisfied, then we know we’ve created something genuinely valuable.
How does SRC approach innovation and sustainable growth?
— Innovation is embedded in IT – that’s a given.
But what people often forget is that innovation isn’t an end in itself. We make sure every innovation also brings stability. Because if it’s not sustainable, reliable, and usable – it’s not really innovation, it’s just experimentation.
Our role is to strike a balance between the cutting-edge and the practical – and to offer our clients the best of both worlds.
How do you measure success – both internally and in client relationships?
— Again, it comes down to what happens “at the end of the day”. Success isn’t just about numbers.
It’s when clients keep coming back, when we’re still at the same table years later, planning new projects together. It’s when our own people are still here – growing, evolving, and believing in the work we do.
That mutual loyalty is the ultimate proof we’re on the right path.
What are the most common benefits clients experience after implementing your solutions?
— The most noticeable benefit is actual, dayto-day improvement – time saved through automation, reduced errors, smoother workflows, and peace of mind thanks to system stability.
Clients often expect that the “system” will magically fix everything. But the truth is, the key lies in thoughtful implementation. When a solution fits the business context, the results go far beyond technology – from operational efficiency to inter -
What should companies pay attention to when choosing digital solutions and planning implementations?
— This is something I often discuss, particularly with clients in sectors such as banking. Too often, organisations fall in love with flashy solutions – sleek interfaces, long feature lists, big promises.
But in the process, key questions are often overlooked – what actually happens in production? Who’s going to use it every day? How simple is it to maintain? And what happens when things don’t go as planned?
Sometimes, it’s the simplest things that become the biggest problems later on.
That’s why I always say: implementation should be viewed as a journey every employee and user must go through – not just a PowerPoint presentation.
What’s your perspective on the domestic market when it comes to digital transformation?
— There’s no doubt we’ve entered the era of digital transformation – but too often, it remains surface-level.
People are aware that digitalisation is necessary, but the deeper understanding of why it’s important and how to do it right is still evolving. Many end up following the form, but not the essence.
And that’s precisely where the opportunity lies. Once the market starts truly understanding the purpose behind digitalisation, we’ll unlock a leap forward – a competitive edge not only locally, but regionally.
That’s exactly where we see our role –to help businesses avoid getting lost in the process and instead, make the most of it.
What personally keeps you motivated in your role?
— It’s that feeling at the end of the day – knowing we’ve proposed something that will improve a client’s business on multiple levels.
Even when they can’t fully see it at the time, we know the benefits are coming.
And even when a client doesn’t choose us – for whatever internal reason – but they know what we offered was the best for them, and they recognise that we understand their real-life challenges… that’s when I know we’re doing the right thing.
What would you say to young people considering entering IT or starting something of their own?
— Persistence. Focus. Dedication. The harder the road, the more rewarding the destination.
Every obstacle adds value to who you are. And the more potholes you hit, the more meaningful the finish line becomes. If you believe in what you’re building – you won’t quit. You’ll find a way.
nal communication and even customer satisfaction.
Brewing Bold Moves
How Brian Niccol is reshaping Starbucks for a new era—one bold decision at a time
In the world of global brands, few names carry the same cultural weight as Starbucks. More than a coffee chain, it’s a symbol—of lifestyle, of community, of convenience served with a splash of foam. But behind the counter and beyond the green mermaid logo, a quiet transformation has been taking place. And at the centre of it stands Brian Niccol, a CEO known less for boardroom bravado and more for smart, strategic pivots.
Appointed in 2024 as the first true outsider to lead Starbucks since its founding years, Niccol took the reins from Howard Schultz at a time of great complexity. The brand had emerged from the pandemic with resilience—
Brian Niccol CEO of Starbucks
Starbucks needed refinement. Niccol understood that
but also with bruises. Changing consumer habits, increasing labour tensions, digital disruption, and rising costs were just some of the challenges simmering beneath the surface. Yet where others might have reached for quick fixes, Niccol brewed something more ambitious: long-term reinvention.
His arrival was not without raised eyebrows. After all, he had made his name in fast food. As CEO of Taco Bell, Niccol had pulled off what many considered a masterclass in brand revival—infusing humour, energy, and tech innovation into a company that had fallen out of cultural favour. He introduced mobile ordering and delivery partnerships long before they became industry standard, and redefined the brand’s voice to resonate with younger consumers. The turnaround was not just financial—it was cultural.
Starbucks, of course, was a different beast. It didn’t need reinvention, exactly—but it did need refinement. Niccol understood that. And his strategy was clear from the start: protect the brand’s emotional core while reengineering its operational future.
One of his earliest priorities was tech. Under Niccol’s direction, Starbucks doubled down on its app ecosystem, enhancing personalisation algorithms, loyalty integration, and mobile ordering. The stores themselves evolved into more modular
formats: drive-thrus for speed, walkups for urban commuters, and “pickup only” concepts in high-density areas. It was a vision of flexibility—one that reflected how people now live and consume.
But Niccol didn’t stop at customer-facing innovation. He understood that a brand like Starbucks is only as strong as the people behind the counter. With growing union activity in the U.S. and scrutiny over wages and working conditions, Starbucks was under pressure. Niccol respond-
ed with a pragmatic but forward-looking approach: investment in mental health programmes, skills development, scheduling stability, and efforts to improve internal communication across thousands of stores. While not all criticism has been quieted, his tone has been markedly less defensive than previous leadership, choosing dialogue over denial.
Internationally, he has steered the company with nuance. In markets like China, India, and Southeast Asia, Starbucks under Niccol has taken a more locally sensitive approach. Menus are adapted, community spaces are emphasised, and the notion of “the third place”—a place between work and home—has been reinterpreted for new cultural contexts.
Sustainability, too, has become a stronger pillar under Niccol. From
recyclable packaging to shifting toward ethically sourced coffee and plant-based alternatives, the company’s environmental strategy has become less about PR and more about measurable impact. Even the design of new stores is being rethought with carbon neutrality in mind.
Sustainability has become a stronger pillar under Niccol
Perhaps most impressively, Niccol has achieved all this without losing the essential warmth of the Starbucks experience. Customers still hear their names called. The foam is still swirled just so. The human touch remains. And yet, the Starbucks they walk into today is not the Starbucks of five years ago. It is faster, more digitally intelligent, more inclusive, and more
agile. In a landscape where many legacy brands stumble while trying to modernise, Niccol has managed to evolve Starbucks without losing what makes it beloved.
He may not have the founder’s charisma or cult of personality. But that may be exactly what the company needed. Brian Niccol’s style is quiet confidence, measured execution, and long-range thinking. He doesn’t need to dominate headlines—his results speak louder.
Starbucks today stands as a case study in balanced leadership. Not reactive, not reckless—just responsive. In the age of rapid change, that’s no small feat. And as Niccol continues to refine the model, one thing is clear: the future of the world’s most famous coffeehouse is not just brewing. It’s being carefully, confidently crafted— one bold decision at a time.
THINKING GREEN & LIVING CLEAN
Violeta Belanović
THINKING GREEN & LIVING CLEAN 2025
58 Two Decades of Growth, One Clear Mission
Nenad Đurđević
Commercial Director SEE, Turkey and CIS Ball Corporatio; President of Alliance for Circular Packaging Serbia
60 Marking Earth Day Through Environmental Action MLEKOPRODUKT
61 Sustainability Is the Only Way Forward
Svetlana Smiljanić Member of the Executive Board, Wiener Städtische Insurance
62 Can COP30 Succeed Where COP29 Failed?
66 From Blackout to Blueprint Aleksandar Kovačević
GREEN AMBITION, LOCAL CONTRADICTION
Environmental awareness is growing steadily in Serbia, but true sustainability requires more than solar rooftops and policy declarations. The path to green development is paved with complex questions of accountability, resilience and long-term responsibility.
Serbia stands at a critical environmental crossroads. On one hand, there is encouraging momentum in the development of renewable energy—wind farms are expanding, rooftop solar panels are multiplying, and interest in green technologies is becoming more mainstream. On the other, this visible progress is being complicated by deeper structural and policy challenges:
the spread of environmentally risky mining projects, gaps in institutional capacity, and an overreliance on imported energy and short-term investment logic.
As European countries increasingly lean on renewable energy and set ambitious climate targets, events like the recent blackout on the Iberian Peninsula serve as a cautionary tale. They underscore the complexity of maintaining energy stability in a system heavily dependent on wind and solar—and highlight the strategic importance
of hydropower and grid flexibility. These lessons are particularly relevant for Serbia, which possesses untapped hydropower potential but has yet to fully integrate into Europe’s clean energy framework.
Rather than being treated as a periphery of Europe’s green ambition, Serbia and the Western Balkans should be empowered to
contribute to the continent’s energy resilience. However, this requires more than infrastructure—it requires trust, transparency, and a clear policy vision that balances national development with regional cooperation. Investments must not only be bold but
also aligned with environmental and technical standards that reflect local realities.
Too often, “green” initiatives in the region are implemented through mechanisms that prioritise compliance on paper while absolving actors of responsibility for real-world outcomes. Similarly, trade measures such as the Carbon Border Adjustment Mechanism (CBAM), though designed to encourage decarbonisation, risk under-
mining regional investment unless implemented with nuance and fairness.
What Serbia needs is a forward-looking strategy—one that combines energy independence, innovation, and industrial competence. It must move beyond simply following policy templates drafted elsewhere. Without clear investment in energy storage, transmission infrastructure and environmental enforcement, the country risks being locked into a role of passive provider rather than strategic partner.
The paradox is this: Serbia is rich in natural and human resources that could support a just transition, but unless these resources are stewarded with care and foresight, the green agenda could come to resemble just another form of exploitation. Sustainability, after all, must begin at home—not only in kilowatts and emissions targets, but in values, institutions and shared responsibility.
The EU Encourages the Use of Serbia as a Raw Material Base, with Vague Environmental Guarantees and No Benefits for Citizens.
In Conditions of Corruption, Weak Rule of Law, and EU Support for the Authorities, Promises from Brussels Seem Unconvincing
Facing the dire consequences of global warming, humanity is compelled to reduce CO₂ emissions and find alternatives to fossil fuel energy. The plan known as the “Green Agenda” entails solutions such as electric vehicles, batteries, solar power plants, wind farms, and other devices that require significantly higher amounts of hard-to-access critical minerals, which are scarce in the lithosphere. However, numerous decisions of the green agenda have been made by politicians influenced by profit-driven large capital, with insufficient input from independent experts, considering market laws but not the laws of physics, says Academician Slobodan Vukosavić. Hence, he notes, “the timeframe of profit-oriented planning considers a rather short time interval and cannot accommodate the dynamics of the energy sector.” When we look at the United States, we see that changes in U.S. policy reflect the need to develop technologies that require fewer critical minerals, such as hydrogen cars, the use of solar and wind energy to produce green fuels, nuclear power plants, geothermal energy, biomass, and other sources, Vukosavić points out. “These changes are already having a strong impact on the development plans of key manufacturers,” our interlocutor observes.
In this context, how do you view the current global race for critical raw materials, including the “Jadar” project? How do you perceive the fact that the views of our experts have equally little influence on both our and the European public?
— Decisions made by politicians are increasingly influenced by large capital, while the influence of experts and citizens themselves is diminishing, with their interests often taking a back seat. Leading corporations and financial institutions
influence the adoption of policies and the making of decisions and laws to achieve higher profits, considering the short-term effects of their actions. Public unawareness allows public opinion to be shaped through the media, the imposition of prepared narratives and concepts, diverting attention, and planned suppression of critical thought. Objective facts and the opinions of experts with integrity are increasingly less accessible to citizens, leading to the degradation of democracy into a facade for the economic interests of the elite. Vital information remains inaccessible to the public, while the media disseminate content designed to promote the interests and projects of interested companies and groups, and to suppress citizen resistance due to the violation of their interests. Peer-reviewed and published works by independent experts indicate that the Jadar project would jeopardize the water supply for 2.5 million people in Serbia, threaten agricultural activities, lead to population displacement, and create environmental refugees. However, the ruling regime and narrow interest groups are dedicated to the unscrupulous discrediting of objective views, while interested companies invest in dulling the public. On the other hand, domestic experts in mining and geology are denied the opportunity to engage in applied geological and other research, leading some to accept offers from multinational companies and produce unfounded studies on the feasibility of mineral exploitation with predetermined positive outcomes. The dissemination of findings that ignore the consequent devastation of the environment further confuses public opinion.
How likely is it that lithium in general, or lithium processed with the technology proposed in our country, will be significant for the EU’s needs?
— The planned exploitation of lithium in the Jadar Valley would require the consumption of signifi-
cant amounts of fossil fuels, incompatible with the goals of the green agenda. Specifically, it involves substantial quantities of oil derivatives and natural gas. The energy needed to produce lithium carbonate in Jadar is several times greater than the energy required to produce lithium carbonate from brine lakes (in Bolivia, Chile, Argentina, and China).
Considering that energy has a very significant share in the production cost of raw materials and finished products, it can be concluded that the prospects for profit from lithium obtained in the Jadar Valley are
ceptional potential for agriculture, coupled with a key aquifer system in Serbia. According to available knowledge, there is no way to exploit lithium, boron, cobalt, antimony, nickel, etc., in such areas without the resulting damage being incomparably greater than the benefits. According to estimates by a group of independent economists, the benefit that the Jadar project would bring to Serbia is about twenty times less than the value of the annual raspberry production in the wider area, a production that would be directly or indirectly threatened
GOLD EXPLOITATION PROJECTS POSE A SIGNIFICANT DANGER DUE TO THE AUTHORITIES’ WILLINGNESS
RISKS FOR SERBIA AND NEIGHBORING COUNTRIES
TO ACCEPT SERIOUS ENVIRONMENTAL
significantly threatened by the exploitation of energy-cheap lithium from brine. This observation aligns with the initial statements of interested companies that they came to the Jadar Valley seeking borates. The price of lithium on the world market has dropped more than eight times in just a few years. One reason is the availability of lithium obtained from brine. Another reason is the growing interest in cars that do not use lithium batteries.
In addition to hydrogen, there are sodium batteries that surpass lithium LFP batteries in key technical and price aspects.
You once said that there is “great pressure on countries where institutions are not developed and where there is a high level of corruption to accept opening mining in a traditional and cheap way.” Would it make sense to accept this project with stronger institutions and modern mining... higher mining royalties...?
— The Jadar project is planned in a fertile, populated area with ex-
by the initiation of the Jadar project. According to estimates, compensation for damage due to consequent pollution and remediation costs would far exceed the gross income of investors. Therefore, it is reasonable to continue lithium exploitation only in desert areas, far from key aquifer systems, agriculture, and settlements.
Although all eyes are on lithium, in reality, Serbia has many other companies dealing with other rare mineral deposits. Are such ventures equally risky?
— The company Zijin exploits copper and numerous critical minerals in Bor and Majdanpek. Very significant quantities of European copper are handed over to a non-European company, contrary to the intentions of the EU. Less than 3% of the total market value of minerals remains in Serbia, indicating that European copper is being handed over for next to nothing. Operations are conducted in such a way that arsenic and cadmium emissions exceed limit values by over thirty times, leading to
a significantly increased incidence of non-contagious diseases and deaths. The number of employed Serbian citizens is comparable to the number of oncology patients, and according to projections, the local population (excluding numerous Chinese citizens) will be halved by 2050.
If we compare the EU’s support for other Serbian projects related to the green agenda and what
lems elsewhere (Congo, Morocco, Serbia), to countries where the protection of nature, water, human rights, and working conditions is much weaker than in the EU. Although EU representatives generally advocate for adherence to the highest environmental protection standards, exploitation is primarily planned as low-cost but dangerous for the environment in countries with underdeveloped institutional systems, high corruption po-
THE EROSION OF TRUST THAT THE BROADER SERBIAN PUBLIC HAD IN THE EUROPEAN UNION OPENS THE SPACE FOR THE ACTIONS OF NON-EUROPEAN POWERS, WHICH GOES AGAINST THE INTERESTS OF BOTH SERBIA AND THE UNION
is happening around lithium, how do you think the relations between the EU and the Western Balkans and Serbia should be “read”?
— Environmentally acceptable mining is too expensive, so the EU seeks to “export” its environmental prob-
agriculture and strategic reserves of groundwater. Upper limit values for certain critical pollutants in soil and water have been removed from the regulations, creating the possibility of mining with significant pollution, reducing investor costs, and increasing profit. If the planned mineral exploitation in Serbia is carried out, and if the affected population is not denied basic human rights, then the obstacle to the long-term supply of the EU with minerals from Serbia would be the legitimate right of the population to self-defense.
tential, and populations that do not offer significant resistance to profitable mining at the expense of the environment and population. The latest legal regulations in Serbia create the possibility of opening over 40 mines, mainly in populated areas with successful profitable
We live in a time when it is difficult to assess what will happen on the political front. Do you believe that this is a time when potentially long-term bad decisions could be made away from the public eye, or could the existing processes lead us to a new, better agenda in this area? — Serbia is essentially and fatefully connected to the EU. The EU’s energy and raw material dependence diminishes its global political significance, which negatively affects the situation in Serbia. The prospects of Serbia and the future of mutual relations are influenced by the fact that the EU encourages the use of Serbia as a raw material base for the needs of European industry, with vague guarantees regarding environmental protection in Serbia, with the prospect of significant water devastation and land desertification, without unquestionable insurance and financial instruments for damage compensation, and without any significant financial gain for Serbian citizens. In conditions of widespread corruption, the undisputed dominance of the ruling regime’s top over the judicial, legislative, and executive authorities, inconsistent application of the constitution and laws, and the support that EU officials provide to autocratic authorities in Serbia, the promises coming from Brussels are unconvincing.
DANIJELA ISAILOVIĆ
Renewable Energy Sources of Serbia (RES), manager
INTERVIEW
GREATER WIND AND SOLAR ENERGY OUTPUT
Although wind energy has so far dominated thanks to investments from global investors, the latest auctions and upcoming projects indicate that solar is fast catching up, suggesting that in future, the gap between wind and solar will narrow significantly
Last year saw €33 billion invested in renewables across Europe – a considerably better result than in previous years. Serbia has also recorded positive developments, though investors suggest that, in addition to auctions, alternative mechanisms to ensure the successful implementation of projects should be made available. We discussed the current state of renewable energy sources with Danijela Isailović, Manager of RES Serbia.
Where does Serbia currently stand compared to Europe and the rest of the world?
— With 585 GW of newly installed renewable power globally, the world has now reached 4,448 GW of green energy capacity. Solar remains the fastest-growing green energy source, having recorded a global increase of 29 per cent last year. Within the EU, the wind and solar share of the energy mix rose from 17 to 29 per cent over the last five years, according to data from Ember, a global energy think tank. Wind energy currently provides 19 per cent of Europe’s electricity. Statistically speaking, Serbia is performing well. According to the Energy Agency, 38.1 per cent of electricity produced in Serbia in 2023 came from renewables, more than
85 per cent of which originated from large hydropower plants. Wind accounted for 2.8 per cent, while solar, biomass and biogas collectively contributed around one per cent. We clearly need to generate more electricity from wind and solar sources. Both citizens and the government have recognised the potential of solar energy, which has led to a mass installation of rooftop solar panels on homes, public institutions and factories. We currently have around 95 MW of prosumers.
These figures will be improved by the construction of wind and solar plants that won the 2023 auctions, as well as those from the latest round of auctions concluded this year. Of the major projects that emerged victorious, only the Pupin Wind Farm (95.5 MW) has been connected to the grid so far. Over the coming years, we expect at least an additional 1 GW of auction-winning plants to be built.
We believe that auctions are a secure and effective model for securing new renewable capacities – a win-win solution for both the state and private investors. The state – or more precisely, the Electric Power Industry of Serbia (EPS) – receives cheap green energy, while investors benefit from a guaranteed 15year power purchase agreement and an auction premium. As an association, we advocate for the third
round of auctions to take place as soon as possible, alongside the adoption of appropriate regulations and a new three-year auction plan.
Of course, new capacities can and should be developed, and electricity can also be sold through corporate Power Purchase Agreements (PPAs).
In your view, what represents a healthy balance between the evident interest shown by citizens, as well as small and large companies, in investing in renewables and the risk of overcapacity? How can Serbia best utilise its renewable potential and channel the current momentum in a smart way?
— To avoid imbalances in production and ensure the stability of the power system, strategic planning and coordination among all stakeholders – the state, private sector and citizens – is crucial. Investments in infrastructure that can integrate renewables into the energy system are key.
In previous years, we faced a glut of projects and an unrealistic 26 GW of grid connection requests. This prompted the state to introduce stricter regulations, bank guarantees and limitations, which in turn drastically reduced the number of ongoing projects.
Further development of renewable energy projects and grid balancing will require the construction of the Bistrica reversible hydropower plant, as well as battery storage facilities. Interestingly, 70 per cent of Europe’s battery storage capacity is located in Germany – once again highlighting why Germany is the leader in wind and solar electricity production.
At COP29 last year, more than 100 countries and organisations signed a declaration calling for a sixfold increase in energy storage capacity by 2030.
Among your members are not only major players in wind and solar power, but also pellet producers who, after lengthy dis-
cussions with the state, have reached an agreement that should allow the domestic pellet industry to continue developing. How effective do you believe this solution to be, and what should be the next steps?
— Our member, Eko Step Pellet –which is also one of Serbia’s largest prosumers – is active in pellet production. Unfortunately, this industry, which falls under the forestry and wood-processing sectors, has long faced a series of challenges. We provide support where we can and where we have expertise.
The Ministry of Mining and Energy has adopted a new Rulebook on Solid Fuels from Wood Biomass, which stipulates that only high-quality pellets meeting EU standards may be sold on the Serbian market. This move should help preserve the competitiveness and sustainability of the domestic pellet industry.
Wind farms are currently more present in Serbia than solar power plants. Is this a natural consequence of Serbia’s climate, or do you foresee a more balanced distribution of the two sources in future?
— Wind energy gained a head start in Serbia due to serious global investors who recognised our natural potential more than 15 years ago and were willing to invest both time and resources in wind measurement, multi-year project development, and at times even wait for favourable regulation.
That is why we now have over 600 MW of wind energy installed, but not a single large solar power plant (i.e. over 10 MW) connected to the transmission grid. Previous regulations – whether they related to feed-in tariffs or auction quotas –merely reflected the actual state of the market and the level of project development. However, this trend is now shifting. In the most recent auctions, a solar power plant exceeding 100 MW emerged as the winner and will be connected to the transmission sys-
tem. Looking at projects currently under development, some 6.5 GW of wind and 3.7 GW of solar capacity are on the grid connection list, suggesting that wind will not remain far ahead of solar in the coming years.
What new topics will be addressed at your upcoming annual conference?
— Alongside the already established themes of wind and solar energy, renewable project financing and the energy market, last year’s conference highlighted the growing importance
AT RES SERBIA 2025 CONFERENCE, WE WILL DISCUSS THE CHALLENGES FACED BY THE SECTOR OVER THE PAST YEAR, AS WELL AS ALL RELEVANT AND THOUGHT-PROVOKING TOPICS – EVEN THE TRICKY ONES
of e-mobility, ESG, and education –all of which we intend to revisit with further depth and nuance.
At RES SERBIA 2025 conference, we will address the issues that have emerged in the renewables sector over the past year. Most importantly, we do not sell speaking slots or airtime. Our conferences provide a genuine platform for discussion, where questions from both the audience and moderators are answered openly.
We will talk about everything that is timely and relevant – even when it may be uncomfortable.
VIOLETA BELANOVIĆ
General Manager of Sekopak
Over the course of nearly two decades, Sekopak has recycled more than one million tonnes of packaging waste and has played a key role in building a sustainable waste management system nationwide.
Through partnerships with companies placing packaging on the market, Sekopak ensures that packaging is properly collected and recycled—thereby closing the loop of the circular economy.
“Our role is not simply to help clients meet legal obligations – we
PACKAGING WASTE AS A RESOURCE
When it comes to responsible waste management in Serbia, Sekopak is a name that stands out. Established in 2006, this packaging waste management system operator was founded on the principle that packaging should not be seen as a problem, but as a valuable resource
are evolving with it,” Belanović affirms.
Fully aware that investment in infrastructure and public education forms the backbone of a successful system, Sekopak installed more than 2,000 containers for primary waste selection in the past year alone. “There is no successful recycling system without the trust and participation of citizens,” she notes.
The introduction of municipal packaging waste recycling targets last year marked, in her view, an important step towards more realistic monitoring of results. “Even
SEKOPAK HAS LONG PARTICIPATED IN CONSULTATIONS FOR DRAFTING KEY NATIONAL DOCUMENTS, INCLUDING THE NEW PACKAGING WASTE REDUCTION PLAN COVERING THE PERIOD THROUGH TO 2029
are building a system,” says Violeta Belanović, General Manager of Sekopak.
As she explains, Sekopak has long been involved in consultations for the development of key policy documents, including the new Packaging Waste Reduction Plan for the period through to 2029. “The plan brings ambitious targets, but no surprises –the system is evolving, and we
before this regulation came into force, Sekopak was investing in the municipal sector. For us, this is simply a continuation of the path we’ve already taken. Thanks to this proactive approach, many local authorities today have a solid foundation for more efficient packaging waste management.”
In addition to supporting the development of municipal infrastructure, Sekopak places a strong
emphasis on eco-modulation – a system that incentivises companies to use packaging that is easier to recycle. “Sekopak actively supports trends that promote a shift towards recyclable packaging, in line with European sustainability standards. In this context, we are a strong partner to our clients striving to improve their environmental performance,” Belanović explains. This approach not only contributes to environmental protection but also enhances companies’ reputations and helps them meet growing market expectations.
Looking to the future, she notes that Sekopak is closely monitoring the Ministry of Environmental Protection’s plans to potentially introduce a deposit return scheme for PET bottles and aluminium cans from 2027. “We support initiatives aimed at improving packaging waste management, provided they are planned with care to ensure the long-term sustainability of existing systems.”
In conclusion, Belanović underlines that success depends on the concerted efforts of all actors involved. “Industry, citizens, waste operators, public utility companies and the state – we all have a role to play. Ours is to help build a system in which packaging waste becomes an opportunity, rather than a burden on the environment.”
SUSTAINABLE RETAIL PARKS ARE THE FUTURE
Sustainable development lies at the core of CPI Property Group’s business strategy, which is why every STOP SHOP retail park is carefully designed to contribute to the preservation of natural resources and the reduction of environmental impact
For CPI Property Group, ESG principles are not merely a requirement – they are deeply embedded in the company’s philosophy. These principles represent the foundation of its longterm strategy and reflect a clear commitment to sustainability. Through its STOP SHOP retail parks, the company aims to set high standards on the market, encouraging tenants to work together in building a responsible and sustainable future.
STOP SHOP has had a presence in Serbia for over a decade. Since the construction of the first retail park in 2015, the number of locations has grown to 14. Each STOP SHOP is developed to be both functional and appealing to visitors, while also remaining socially responsible. They feature abundant green areas, LED lighting, and charging stations for electric vehicles, further promoting a sustainable lifestyle.
– compact urban forests planted using an innovative Japanese method. This approach involves dense planting of native plant and tree species across all height levels, encouraging rapid growth, in -
the company has successfully integrated other sustainable systems, including rainwater collection, electric vehicle chargers, solar benches, and public lighting at selected sites,” explains Miodrag Perović, Senior Development Manager.
CPI PROPERTY GROUP IS COMMITTED TO ENSURING THAT EACH STOP SHOP RETAIL PARK BECOMES ENERGY SELF-SUFFICIENT, RELYING
AS MUCH AS POSSIBLE ON GREEN ENERGY PRODUCED BY ROOFTOP SOLAR POWER PLANTS
“At certain locations, we have also installed solar benches that enable users to charge their devices using solar energy, while photovoltaic panels help reduce dependence on fossil fuels by supplying a portion of our energy needs from renewable sources,” says Miodrag Perović, Senior Development Manager at CPIPG.
He also highlights the company’s pride in the “Miyawaki urban forest” initiative
creased biodiversity, and self-sufficiency within three years, even in small urban spaces.
Until full energy self-sufficiency is achieved, CPI Property Group ensures that all electricity used across its retail parks is sourced exclusively from certified renewable sources. In addition to rooftop solar power plants with a total capacity of 4.7 MWp across five locations,
With a strong focus on sustainability, CPI Property Group continues to expand the STOP SHOP network in cities with high potential, particularly in areas not yet covered by modern retail formats. The aim is to improve local offerings and strengthen infrastructure, all while upholding principles of sustainability and quality.
STOP SHOP Smederevo is entering a new phase of development, with an 8,000 m² extension planned to bring a richer offer, stronger presence of both domestic and international brands, and an entirely new shopping experience for the local community. The second phase is scheduled for the fourth quarter of 2026, announces Maja Dulc, Country Manager Operations for Serbia.
CPI Property Group is continuing to grow its portfolio, with new developments including the arrival of LIDL at STOP SHOP Čačak. The company is also exploring the acquisition of competing projects, as current yields confirm the stability and appeal of investing in the local market.
Commercial Director SEE, Turkey and CIS Ball Corporation; President of Alliance for Circular Packaging Serbia
TWO DECADES OF GROWTH, ONE CLEAR MISSION
Ball Corporation is celebrating a successful presence in Serbia that spans 20 years—distinguished by innovation, export excellence and a strong dedication to environmental sustainability
When Ball Corporation opened its factory in Belgrade back in 2005, it was the largest U.S. greenfield investment in Southeast Europe. Two decades on, it stands as a case study in sustainable growth, local integration and regional influence, exporting to over 20 countries while fostering a domestic supplier network. At the helm of these efforts is Nenad Đurđević, Commercial Director for SEE, Turkey and CIS, who also serves as President of the Alliance for Circular Packaging in Serbia.
In anniversary years, we often pause to take stock. Ball Corporation is marking two decades of business and has every reason to be proud. These have been 20 dynamic, exciting and milestone-worthy years.
— Ball Corporation, the world’s leading manufacturer of aluminium packaging for beverages, personal care and household products, is this year celebrating 20 years of successful operations. When Ball built its factory in Belgrade back in 2005, it was the largest U.S. greenfield investment in Southeast Europe (OECD) at the time—an accolade it continues to hold in Serbia today. The excellent performance of the Belgrade facility, driven by the commitment of its employees, has been the reason for continued investment throughout the past two decades. Today, those same employees proudly contrib-
ute to the establishment of new Ball investments across the globe, where they share their extensive knowledge and experience with colleagues worldwide.
Over the course of these 20 years, outstanding business results have not only confirmed the investment’s value, but also ensured ongoing investment in capacity expansion and innovation. Through our operations, we have once again demonstrated what Ball Corporation is known for: the production of high-quality and safe products, a strong culture of innovation, trusted relationships with customers and a deeply responsible approach to the environment. We’ve started with numbers, so let’s stay with them—they speak volumes. What do they tell us about investment levels, production capacity, market reach,
export value, and tonnes of recycled material?
— Over the past two decades, our operations have been defined not only by investment, but also by innovation, sustainability and circularity— principles Ball applies across all the markets in which it operates. From our Serbian facility, we supply the entire Southeast and Central European region, as well as Turkey, with the goal of expanding into new markets and leveraging Serbia’s favourable trade agreements. More than half of Ball’s total Serbian production is intended for export. We currently export to around 20 countries worldwide. This speaks to the high quality and safety of our product, and to our continued ability to stay ahead of customer expectations. It is worth noting that our export activities contribute to Serbia’s international trade balance, but we also place strong focus on developing our local supplier network. We have established partnerships with a significant number of Serbian companies, and the domestic supplier base continues to grow year after year—something we are proud of and fully committed to supporting.
Ball places particular emphasis on sustainable business practices and responsible engagement with the environment and the communities in which it operates. Recycling is one of the core pillars of your sustainability efforts.
— Currently, approximately 76% of beverage cans produced in Europe are recycled, but there is potential for this number to reach 100%. For this reason, Ball has partnered with the “Every Can Counts” initiative to promote recycling through public campaigns and community engagement. We have taken part in around 20 different events across Serbia and the region—spanning music, culture, science, gastronomy and education—and organised a large recycling campaign to mark World Environment Day,
all with one goal: to promote and implement recycling in practice. These activities resulted in an impressive figure for 2024: 350,000 used beverage cans were collected and sent for recycling.
Through our longstanding collaboration with the Limenka Theatre Festival, now in its 15th year, we also focus on early education— helping children and young people understand the importance of recycling and the proper handling of packaging waste. The initiative uses theatre and creative performance to engage young audiences in a unique way, inspiring tens of thousands of participants to rethink waste and sustainability. More than 600,000 cans have been recycled through this project to date.
rope, the Middle East and Africa stands at 69%.
Taken together, these figures clearly demonstrate that Ball Corporation is taking a responsible, forward-looking and strategic approach to this crucial issue.
You also serve as President of the Alliance for Circular Packaging, which brings together companies with extensive experience in recycling, sustainability and circular business models. How will the new EU regulations on packaging waste management impact Serbia’s packaging industry and Ball’s operations?
— Given that Serbia’s packaging industry is export-oriented, all changes in EU legislation are likely to in-
BALL HAS ONCE AGAIN DEMONSTRATED WHAT IT IS KNOWN FOR
– SAFE, HIGH-QUALITY
PRODUCTS, INNOVATION, STRONG CLIENT PARTNERSHIPS AND ENVIRONMENTAL INTEGRITY
As a leader in aluminium packaging, one of Serbia’s top exporters, and the country’s strongest proponent of circularity and recycling, your climate transition plan is aligned with the EU’s environmental guidelines?
— The European Union’s recommendation for the packaging industry is to significantly raise recycling rates by 2030—to 85% for paper and cardboard, 75% for glass, 60% for aluminium, and 55% for plastic packaging waste—in order to reduce overall waste and environmental pollution.
Ball’s climate transition plan aims to exceed these targets. The goal is to raise recycling rates across all markets in which Ball operates to 90%, and to ensure that by 2030, 85% of the material used in our cans is recycled. This would significantly contribute to CO₂ emissions reduction. As of 2024, the average recycling rate across our operations in Eu-
fluence the business of companies operating here. The introduction of new standards—such as higher percentages of recycled content in products—will become a mandatory requirement for any company wishing to maintain access to the EU market.
This is why it is particularly important that the new Law on Packaging Waste Management, currently under development in Serbia, takes into account the updated EU objectives and introduces an efficient and appropriate waste collection system. This is not only a question of environmental protection—it is equally a matter of economic competitiveness.
To remain competitive, Serbia must adopt systemic and robust solutions. The Alliance for Circular Packaging, which includes industry leaders from the packaging sector, is ready to share its experience and expertise with relevant institutions to help create the most effective and efficient legal framework possible.
MARKING EARTH DAY THROUGH ENVIRONMENTAL ACTION
To mark Earth Day, Mlekoprodukt organised a series of meaningful environmental activities in Zrenjanin, bringing together employees, their children, and community partners with a shared goal of protecting the natural environment
Wishing to make a tangible contribution to the well-being of their local community and the planet, the Mlekoprodukt team planted trees and sowed flowers, placing special emphasis on plant species that support the survival of bee populations. In addition, a clean-up campaign was carried out along the banks of the Begej River – a key natural resource for the city.
This important initiative was joined by members of the Zrenjanin-based rowing club VK Begej 1883, who took part in cleaning the riverbanks near their clubhouse, as well as by the Taekwondo club Proleter, whose members helped clean the riverbank at Pristan.
Running alongside the clean-up effort was the “Save the Bees” project. As
part of this initiative, packets of wildflower seeds were distributed for spontaneous scattering across various locations. This simple act encourages the growth of wild plants without the need for additional human intervention, directly supporting the recovery of bee populations – a vital pillar of our ecosystem. Adding an element of fun and education, the project also introduced “seed bombs” – small balls containing flower seeds that can be thrown onto neglected urban plots by guerrilla gardeners, including children, contributing to the greening of urban spaces.
In addition to directly supporting bees, the project also seeks to raise awareness of the crucial link between pollinators and food production, inspiring people to
THE MLEKOPRODUKT TEAM PLANTED TREES AND FLOWERS,
WITH A PARTICULAR FOCUS ON BEE-FRIENDLY SPECIES, AND LED A CLEAN-UP CAMPAIGN
ALONG THE BANKS OF THE BEGEJ RIVER – A VITAL NATURAL ASSET OF ZRENJANIN
plant more flowers. Among the Mlekoprodukt team are also active beekeepers who, through both their profession and personal interests, promote a more sustainable future. One of them, Vladimir Stajić, has been involved in beekeeping for over a decade, relocating his hives in search of rich nectar sources – from apple orchards and rapeseed fields to acacia, linden and sunflower pastures. The activities carried out by Mlekoprodukt help Vladimir and other beekeepers keep their colonies healthy and strong throughout the year.
“We are sincerely grateful to everyone who joined our Biser team in this important mission. We hope that our initiatives will encourage others to nurture a love for nature, care for their surroundings, plant trees and flowers, and actively work to keep our rivers and environment clean and healthy,” said representatives of Mlekoprodukt.
SUSTAINABILITY IS THE ONLY WAY FORWARD
Sustainability has become an essential part of business decisions for many companies, as it simultaneously reduces risks associated with climate change and ensures long-term stability and profitability
SVETLANA SMILJANIĆ
Member of the Executive Board, Wiener Städtische Insurance
e spoke with Svetlana Smiljanić, Member of the Executive Board of Wiener Städtische Insurance, about how operating within the largest insurance group in CEE supports the implementation of ESG strategies, how the balance between profit, ethics, and sustainability is maintained, and why employee engagement in socially responsible initiatives matters.
WWiener Städtische Insurance is part of the Vienna Insurance Group. How do you adapt the Group’s strategic guidelines to the local market?
— Naturally, our market has its own specific characteristics, and we adapt by creating economic value today — but not at the expense of tomorrow. Local regulations, which clearly define the investment activities of insurance companies and predominantly limit them to government bonds and the local financial market, also shape our investment portfolio, meaning ESG investments is more limited in this segment.
However, one of the steps we have already taken on the path towards sustainability — and which has contributed to reducing our carbon footprint — is sourcing electricity from renewable sources for our investment properties.
In terms of underwriting the Group's policy is to reduce exposure to coal-related risks, which we also maintain at the local level. We also pay close attention to the absolute emissions of our pol-
icyholders when considering new insurance coverage.
In addition, we encourage the uptake of electric and hybrid vehicle insurance through incentive schemes, as well as increasing their presence in our own fleet. The Eco Casco Bonus insurance product, developed in partnership with Toyota, is just one example of a customized solution designed to support environmentally beneficial initiatives.
What does sustainability mean to you? — Companies have a key role — and therefore responsibility — in shaping a new era of sustainable business development, where success depends on maintaining a balance between profit, ethics and sustainability, with the latter two factors gaining increasing weight in supporting this equilibrium.
Managing long-term success requires active engagement with environmental, social and financial issues, which are defined through our Local Sustainability Programme 2024.
This programme covers six key areas, and our fields of activity encompass as-
THROUGH INCENTIVE SCHEMES, WE PROMOTE THE GROWTH OF INSURED ELECTRIC AND HYBRID VEHICLES
set management, underwriting, management of our business operations, employees, clients, and the wider community. For each of these areas, we have defined specific targets and key performance indicators, to help us monitor our progress on the path of development.
What socially responsible projects are you implementing? How important are environmental initiatives to you? — We are deeply committed to society — we care about our environment, about people, and about nature.
We demonstrate community responsibility daily through our corporate volunteering programme, with employees personally engaging in humanitarian activities, promoting social inclusion and education, and initiate environmental and nature protection campaigns. In 2024 alone, over 760 of my colleagues implemented more than 20 such initiatives.
A key pillar of our community engagement is raising public awareness about risk. A survey conducted by Gallup International for our Group across nine countries in the region revealed that in Serbia, awareness of everyday risks and how to manage them is lower than the CEE average, which makes our citizens more vulnerable in terms of the financial consequences of risk. This is exactly where we recognised our ESG role — to act and contribute to raising public awareness, while also helping strengthen their financial resilience in the face of various risks.
by A Anđić
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CAN COP30 SUCCEED WHERE COP29 FAILED?
While the United Nations Climate Change Conference in Baku fell short of what is needed to close the climatefinance gap faced by developing economies, meaningful progress can still be achieved. But today’s financing challenges underscore the need for major policy reforms ahead of this year’s COP30 in Brazil
Last year’s United Nations Climate Change Conference (COP29) in Baku ended with developed countries agreeing to mobilize $300 billion annually for climate finance in developing countries. But while this figure is three times higher than the previous $100 billion target, it falls far short of what’s needed to close the climate funding gap.
The challenge today is more complex than when the Paris climate agreement was signed in 2015. Back then, the $100 billion figure was largely arbitrary, not based on a full analysis of actual investment needs. By contrast, COP29 had to estimate real costs and determine how much external financing would be required.
A report by the Independent High-Level Expert Group on Climate Finance (IHLEG), finds that developing countries (excluding China) will need $2.4-3.3 trillion in climate investments by 2035. About 60% of this could be financed domestically through higher savings and reduced public deficits. Even so, after reallocating existing investments toward the green transition, a $1 trillion shortfall by 2030 – rising to $1.3 trillion by 2035 – remains. Closing this gap will require external funding.
While COP29 acknowledged the scale of the financing gap, it failed to agree
on how to close it. Developing countries pushed for wealthier economies to cover the shortfall with public funds, but developed countries offered only $300 billion annually – and even that came with a caveat: they would only “take the lead” in mobilizing funds rather than guaranteeing direct provision.
The IHLEG report suggests that $650 billion of the funding gap by 2035 could be met through private investment, including equity and debt. But this exposed a deep divide. Developed countries favored private capital to ease budget pressures, while developing countries, aware of its volatility, insisted on public funding for accountability and predictability.
Skepticism around private finance is warranted. Many developing countries struggle to attract private investment, relying instead on grants and concessional long-term loans. Shifting these limited public resources to low-income economies means middle-income countries will have to rely even more on private capital – despite investor uncertainty.
Private climate finance will grow from $40 billion in 2022 to an estimated $650 billion by 2035, according to the IHLEG. But most investment remains concentrated in a few markets, making access unequal and uncertain. Falling renewable-en-
ergy costs could boost green projects over fossil fuels, but the transition’s pace remains unclear.
Even when private capital is available, domestic policies often discourage investment. Many governments artificially lower energy prices for political reasons, making electricity providers financially unviable. Foreign investors understandably see this as a fundamental risk and hesitate to invest. If private finance is to play a bigger role, governments must reform energy pricing, strengthen regulations, and cut bureaucratic red tape to attract investment.
Public-sector support remains crucial. Multilateral development banks (MDBs) and bilateral institutions can lower risks for private investors through risk-sharing mechanisms while helping governments create stable, investment-friendly environments.
COP29’s failure to secure a stronger funding deal means a renegotiation is unlikely until the next global stocktake in 2028. However, gaps can still be bridged. Expanding MDB lending – which has lagged behind climate needs – could provide much-needed capital while countries work on long-term policy solutions.
COP29’s final statement pointed to an opportunity to make real progress ahead of COP30 in Belém, Brazil. But one key
PRIVATE CLIMATE FINANCE WILL GROW FROM $40 BILLION IN 2022 TO AN ESTIMATED $650 BILLION BY 2035. BUT MOST INVESTMENT REMAINS CONCENTRATED IN A FEW MARKETS, MAKING ACCESS UNEQUAL AND UNCERTAIN
factor will determine success: developed countries’ willingness to commit more financial resources.
This has become even more uncertain with Donald Trump’s return to the White House. His administration’s hostility to global climate efforts, and its push for fossil-fuel expansion, will likely weaken international climate finance. The US is already scaling back existing commitments, further delaying climate negotiations.
Given how slow and bureaucratic these discussions have become, it’s worth asking: Are massive annual COP meetings still the right approach? With tens of thousands of government officials, business leaders, and NGOs gathering each year, the urgency of the climate crisis demands more focused, results-driven decision-making.
One alternative is to delegate key financing negotiations to smaller, specialized groups. The G20, for example, lacks universal representation but includes all major economies – developed and developing – accounting for 80% of global GDP and emissions, and two-thirds of the world’s population. More importantly, its members control the world’s largest multilateral de-
THE IHLEG REPORT SUGGESTS THAT $650 BILLION OF THE FUNDING GAP BY 2035 COULD BE MET THROUGH PRIVATE INVESTMENT, INCLUDING EQUITY AND DEBT. BUT THIS EXPOSED A DEEP DIVIDE
velopment banks, making it a natural platform for driving climate finance.
Another option is BRICS, which has positioned itself as a counterweight to Western-led financial institutions. With China, India, Brazil, and other key developing countries playing a central role, the BRICS could mobilize alternative sources of green finance, reducing dependence on Western funding and pushing for fairer access to carbon markets.
If either the G20 or the BRICS were to take the lead in climate finance, the fo-
cus would need to be on expanding MDB lending capacity, leveraging private capital, and incentivizing large-scale investments in climate adaptation and mitigation.
With COP29 failing to secure an adequate funding framework, developing countries are left with more questions than answers. As the financing gap continues to grow, incremental pledges are no longer enough. The real question now is whether the COP process is still the best place for these negotiations.
If major economies keep delaying real commitments, India, Brazil, and South Africa may have little choice but to push for climate finance talks to shift to platforms like the G20 or BRICS.
For COP30 to succeed where COP29 failed, it must move beyond vague pledges to secure clear, enforceable financial commitments. Otherwise, the world will once again gather, negotiate, and leave with little progress – while the climate crisis continues to escalate.
By Montek Singh Ahluwalia, Centre for Social and Economic Progress
FROM BLACKOUT TO BLUEPRINT
Within the broader framework of the EU Clean Industrial Deal and ongoing regulatory reforms, this blackout may well be cited by European industry as evidence that excessive regulation places a burden of compliance on operators, while absolving them of accountability for the actual delivery of services
Photo by Mediacentar
Just a week ago, it was announced that—for the first time—Spain’s power grid operated entirely on renewable energy for a full 24 hours, on 16 April. Merely days later, on 21 April, solar power alone was covering 78.6% of the country’s electricity demand at a given moment, supplying over 20,000 MW of capacity. These milestones represent the outcome of years of targeted investment and development, establishing Spain as one of Europe’s leading solar energy producers.
And yet, on 28 April, a significant portion of the Iberian power system was brought to a standstill by a major blackout. Power was largely restored by the following morning, after a night marked by outages and a state of emergency introduced to preserve basic public order. Solar generation resumed at sunrise, playing a vital role in stabilising the grid. Although it is too soon to determine the exact cause of the outage, the incident has already served as both a stress test and a revealing diagnostic of previously undetected vulnerabilities. Crucially, it has demonstrated the strategic structural importance of hydropower in maintaining system stability in grids with a high penetration of wind and solar. It also highlights the limitations of conventional thermal power plants, which often lack the operational flexibility required to meet today’s challenges. Furthermore, the event underscores how even demand-side solar PV—installed by residential or commercial prosumers—can affect grid dynamics in ways that complicate system recovery, particularly during nighttime outages.
Aleksandar Kovačević on Serbia’s Strategic Role in European Energy Security
IF
THE
CARBON BORDER ADJUSTMENT MECHANISM
(CBAM) WERE TO APPLY TO ELECTRICITY TRADE BETWEEN THE WESTERN BALKANS AND THE EU, IT COULD COMPLICATE TRANSACTIONS, DETER INVESTMENTS IN NEW GENERATION CAPACITY IN THE BALKANS, AND DEPRIVE EUROPE OF MUCH-NEEDED HYDROPOWER THAT COULD HELP PREVENT FUTURE BLACKOUTS
This incident could initiate significant discussions around the need for innovative grid-connection solutions for utility-scale intermittent renewables. It also exposes the limitations of existing solidarity mechanisms within the European energy framework and prompts questions concerning the adequacy of pan-European contingency planning.
Moreover, the blackout should prompt every European jurisdiction to reassess the risks of overreliance on imported energy—whether electricity or fuels—from neighbouring states. It is becoming increasingly clear that purely commercial investments are insufficient to deliver the standardisation and reliability required for critical infrastructure, including public transport, telecommunications, healthcare, street lighting, and water supply.
This is not the first such blackout, and it will not be the last. Future incidents may result in even greater socio-economic disruption. As such, the event must be considered in light of the 2024 ENTSO-E European Resource Adequacy Assessment (ERAA2024), which, despite its optimistic tone, acknowledges serious structural shortcomings.
Within the context of the EU Clean Industrial Deal and ongoing regulatory changes, this blackout may well be held up by European industry as further evidence that regulation often prioritises compliance over accountability.
For example, if the Carbon Border Adjustment Mechanism (CBAM) were to apply to electricity trade between the Western Balkans and the EU, it could create additional complications, disincentivise investment in new generation capacity in the Balkans, and deprive Europe of essential hydropower that could prevent future blackouts.
In this context, Serbia is uniquely positioned to re-evaluate its energy policy priorities. Chief among these must be the assurance of domestic energy security—anchored in national resources, robust technical standards, enhanced productivity, and the expertise of Serbian professionals. A large-scale investment programme is necessary to transform existing supply structures. Ideally, such a programme would be aligned with the EU Clean Industrial Deal. A key outcome should be the evolution of Serbia’s hydropower potential from a domestic safeguard into a strategic asset for European energy security.
At the same time, this situation presents an opportunity for the Western Balkans to become active contributors to Europe’s evolving energy architecture, rather than remaining passive beneficiaries. By investing in the decarbonisation of heat and power, as well as in cross-border coordination, the region can emerge as a strategic partner in securing the continent’s energy future. Alignment with European green standards—adapted to regional realities—could serve as both a development driver and a confidence-building measure. Mutual recognition of carbon allowances will facilitate integration into the EU Emissions Trading System (EU ETS), thereby avoiding application of the CBAM Regulation under Article 2(6), in line with the intended regulatory evolution.
Energy cooperation—if grounded in mutual respect and technical integrity— has the potential to become a cornerstone of regional stability and diplomatic trust.
A forward-looking strategy, based on cooperation with European industry, contribution to continental energy resilience, and accelerated domestic industrial development, could serve as the foundation of a rational and mutually beneficial partnership with the EU.
Following European policy prescriptions blindly—without innovation, ambition, or responsibility—is no longer sufficient. Nor is the outsourcing of national energy security to external gas suppliers or transit countries. Only a resilient, autonomous, and well-integrated energy system can provide a sustainable path forward. A bold investment programme is, therefore, not merely desirable but essential—while ambitious, capable industrial partners are not only welcome but urgently needed.
by EPS
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When the S tage B ecomes
the O nly Reality
I have danced many roles that, as a little girl, seemed completely out of reach. In the moments before a premiere, I would often neither eat nor speak – the performance was all that existed. That feeling, when the stage becomes the only reality, is almost impossible to put into words
Ballet has been with me since early childhood – as a calling, a way of life, and a quiet philosophy that shapes each day. For many, it is a world of sacrifice and hardship – and I wouldn’t say they are wrong. Still, for me, there was never another path. I chose this profession with my heart, and in doing so, I irrevocably committed to a dream that never came with an easier option.
Leaving home at the age of just sixteen marked a turning point. That experience – as challenging as it was empowering – confronted me with a reality in which many of my peers, despite their talent, abandoned ballet. Even now, they recall those school days with nostalgia, while I chose to stay the course, regardless of the cost.
Being a ballerina has never been easy. But when you are surrounded by peo-
ple who believe in you, and guided by mentors who pass on knowledge born from their stage experience, the everyday challenges become manageable –almost invisible. Though the world of ballet can sometimes seem closed and distant, it is in fact a reflection of utter dedication – a state in which everything else fades away.
Moving to Vienna was not an impulsive decision. It was a carefully considered step towards achieving my goal. I met people from all over the world, and every new culture, every new stage, helped shape me. The opportunity to join a professional company straight after graduation was, and remains, one of my greatest achievements. I knew just how rare that was in the ballet world.
My first professional days were filled with excitement, with little thought for
the future. But as my career evolved, so did my perspectives, my needs, and my inner challenges. I sought new experiences, new choreographic truths. I changed companies and worked under four different ballet directors – each time adapting and building my place from scratch. That process was never easy, but it was inevitable.
I have danced many roles that once seemed unattainable. Before a performance, I would often fast and fall silent – everything outside the production ceased to exist. That feeling, that the stage is the only real thing, is difficult to explain. In those moments, the support of colleagues – who were also close friends – proved invaluable.
Today, I maintain my physical condition primarily through self-discipline, which has evolved over time. I no longer seek rigid routines, but rather strive for a more natural way to stay in shape. Ballet without discipline is unthinkable, but it must never become a punishment.
Moving to Vienna was not an impulsive decision. It was a carefully considered step towards achieving my goal. I met people from all over the world, and every new culture, every new stage, helped shape me
A ballerina’s life involves constant exposure to criticism. It is an intrinsic part of the profession, and over time I’ve learnt to accept it – not as a threat, but as a form of guidance, because one can never truly see oneself while performing.
Even today, though it sometimes feels surreal – I still dance ballet. I am still doing what I love. I’m fully aware that a dancer’s career is fleeting, and now more than ever, I feel how quickly this microcosm passes. Perhaps some things could have unfolded differently, but what I feel most profoundly is gratitude – for all that has been, and for what still remains.
Gala Jovanović ballerina
Photo by Andreas Jakwerth
Who’s Leading
the Charge in Serbia’s Post-2020 Art Scene
In a landscape reshaped by global shifts and local resilience, a new wave of Serbian artists, curators, and collectives is redefining contemporary art with bold ideas and unapologetically local narratives
Once centred around Belgrade’s established galleries and state institutions, Serbia’s art scene has been steadily moving toward a more decentralised, dynamic, and defiant space. The years following 2020 brought both rupture and revelation, prompting a generation of artists and cultural leaders to question not just their practice—but the entire ecosystem around it.
The result? A creative terrain that feels more urgent, more unexpected, and far more engaged with the world beyond its borders.
NEW VISIONS, BRAVE MEDIUMS
Among those shaping this moment is Vladislav Vanja Šćepanović, a visual artist and the Director of the Museum of Applied Arts in Belgrade.
“Above the clouds” mural Belgrade, Serbia by Artez
“Stolen Reality, Version 2” by Vladislav Vanja Šćepanović
Painting-drawing, oil markers and oil paint on canvas, 90x90 cm, 2020
Known for his richly layered paintings and conceptual installations, Šćepanović explores the relationship between form, memory, and national identity. He combines institutional leadership with a continuous personal artistic practice, bridging theory and aesthetics in ways that influence both emerging artists and the wider public.
Another standout voice is Ivana Ivković, whose multimedia installations and performances tackle themes of eroticism, power, and public space. Often provocative and deeply immersive, her work invites viewers into a conversation with the body, with architecture—and with their own internal boundaries.
SPACES THAT SHAPE STORIES
Independent artist-run initiatives are now key drivers of the Serbian art scene. KVART Belgrade , born out of the Belgrade Waterfront district, has created a rare intersection between urban development and cultural experimentation. Hosting exhibitions, performances, and educational programmes, KVART provides a rare venue where public space and public dialogue merge.
Elsewhere, U10 Art Space remains a crucial platform for early-career artists. Since 2012, this artist-run space has championed fresh perspectives, challenging dominant narratives and encouraging cross-border collaboration. From video art to experimental sound, U10’s exhibitions often feel more like provocations than presentations.
THE CURATORIAL SHIFT
Curators in Serbia have moved far beyond their traditional roles—they’re now cultural strategists and scene-shap-
ers. Una Popović, curator at the Museum of Contemporary Art in Belgrade, has curated exhibitions that not only reflect but challenge Serbian identity. Her focus on overlooked voices and
bold thematics makes her a key force in the institutional world.
Equally influential is Jelena Vesić, whose work as a curator, theorist, and editor bridges the worlds of academia
Ivana Ivković
Una Popović
Jelena Vesić
Artez in Patras, Greece
“Sand stories” mural Cairo, Egypt
and activism. Known for projects that challenge nationalism, historical amnesia, and institutional inertia, Vesić approaches curation as an act of resistance as much as of organisation.
THE PUBLIC CANVAS AND DIGITAL PLAYGROUND
While galleries and institutions remain vital, some of Serbia’s most recognisable artistic voices now thrive in the open. Street artist Artez, whose colourful murals have appeared across continents, continues to turn blank walls into
towering narratives—blending realism with fantastical elements that often nod to local culture and global concerns.
DECENTRALISATION AND ESCAPE
Away from urban centres, a different kind of art revolution is taking place. Serbia’s rural areas—particularly regions like Mokrin, Tršić, and Stara Planina—are emerging as places of refuge and experimentation for artists burnt out by the city. Mokrin House, a coliving and
“We will learn, work, and grow” by Vladislav Vanja Šćepanović (50x90 cm, oil on canvas, 2021)
MONUMENT: NO ONE IS LOST, video performance and installation – scaffolding, 3-channel video, 20 min, sound, colour, Novi Sad/ RS, 2021.
coworking retreat in northern Serbia, blends tranquil isolation with collaborative possibility, attracting creatives from across the region and beyond. Here, the rhythm is slower, but the thinking is no less radical. Artists report finding new ways to connect with craft, with nature, and with their own unfiltered expression—far from the trends and constraints of institutional expectations.
WHERE IT’S ALL HEADED
The Serbian art scene of 2025 is neither neatly defined nor easily categorised—and that’s its strength. It’s a blend of post-Yugoslav reflection and digital-native experimentation, of curatorial daring and grassroots resilience. It’s shaped by the forces of globalisation, but anchored in distinctly regional textures.
These artists and curators aren’t just reacting—they’re reimagining. They’re not waiting to be discovered—they’re carving their own paths. And they’re doing it with courage, humour, and a sense of urgency that suggests this is not just a moment, but a movement. As the world watches, Serbia’s art scene is no longer following. It’s leading—in ways that are as disruptive as they are beautiful.
By Radmila Stanković
Dino Mustafić
film and theatre director, current managing director of the Sarajevo National Theatre
Moulded Professionally Balkans me T he
A leading Bosnian-Herzegovinian director, he is welcome everywhere around the region. He claims that his Bosnia wasn’t formed militarily or politically, but rather was determined by culture, which is why his experience of directing in the Balkans is something that enriches him spiritually. He has put his name to more than a hundred directing jobs on multiple continents. He has also been successfully managing the Sarajevo National Theatre for the past four years.
He grew up in a family that gave him love and trust, and that taught him from an early age to respect others, and that he has a right to his own opinion.
“I fell seriously ill in the fifth year of primary school and spent three months quarantined at home. Until then, I had read the comics Zagor, Grande Blek and Comandante Marko, like other children... However, those comics weren’t enough for the speed at which I devoured them, and I was fated to explore the very rich bookshelf above the bed in which I was laying. I then also wanted to read something that came in sequels, in order to have something that would continuously kill my boredom and despair over not being with my pals at school. I recall well taking the thick two-volume War and Peace. In the gallery of characters is a hero called Pierre Bezukhov – an affable, rotund man, who spends his entire life unhappily in love. And his point of departure is the fact that he’s always done good to others, yet he’s never managed to find his moment of happiness, when he would assert himself fully. Throughout my later life and career, whenever I lost motivation or was overcome by some basic instincts, which would quickly make me feel ashamed, I always adjusted my behaviour through the perspective of Pierre Bezukhov, wondering how this childhood idol of mine would react in a given situation. Bezukhov represents a kind of paradigm of a utopian, who believes that you can only work for yourself if you believe you can change things by doing good for others. I found that in my vocation. I became a director, of theatre and film, someone who takes care to convey to his community ideas and dreams, and hope for a better and fairer world.”
His father, Mustafa, who was known as Pujdo to people from the film industry, was a director of photography, while his mother, Majda, retired as a bank clerk and his sister Svjetlana is a journalist. He spent an important part of his upbringing, dur-
ing the first years of primary school, with his grandmother Milka and his grandfather Taib. That’s how he recalls the sound of Grandma Milka’s Singer sewing machine, her warm kitchen and the smell of hot cocoa that she would serve him before school in the mornings.
“Her powerful embrace before I left the house and headed to school was a ritual that often comes back to me through my dreams or on days when I feel insecure, sad or lost.”
Dino has long been the husband of Lejla, a comparatist and producer who works in the culture department of the U.S. Embassy in Bosnia and Herzegovina. He is also the father of a daughter, Iman, an economist. In raising and educating her, he tried to assure Iman that spiritual values such as truth, justice, beauty, compassion and love are the only real protection and the only assurance of freedom.
“They are the only things that can truly liberate us and bring out the best in human nature and overcoming our most base urges. That’s why it’s vital to preserve within us the importance of joy. The delight of learning, the idea that you should never stay on the surface or allow your habits to turn your life into some kind of in-
Theatre only makes sense when it brings things into question, opens discussion and conducts dialogue, which is then most often considered subversive
toxicating routine. The rapture of life enables you to experience massive spiritual and emotional richness in what life has to offer you.”
He graduated Sarajevo’s famous First Gymnasium secondary school, which has been attended by many artists, scientists and business leaders. One of them was Ivo Andrić himself. He subsequently graduated from the Faculty of Philosophy in Sarajevo, Department of Comparative Literature, and finally completed his stud-
ies at the Academy of Performing Arts with a degree in multimedia directing (film, theatre, TV and radio). We ask him why he says that directing was his only choice.
“I always remember a humorous answer to that question given by the great Avda Sidran, who said that a director has a gift for a little of everything. And that really is the case – a little bit of an actor, painter, scenographer or writer. A little bit of everything, and nothing fully. The director chooses and makes decisions, creates the whole, orchestrates the work, multiplies self and his idea in others, but he must then also invalidate himself in order to get the best and the most out of his other collaborators. This is a profession in which there’s no holding back – you give the
best of yourself to others, like an intense wellspring that everyone must taste, and you mustn’t run dry.”
At the outbreak of the war in Bosnia, Dino was 21 years old.
“I was born in a city where it was completely natural for there to be a friendship between an Islamic mystic and a professor of Christology at the school of Catholic theology. That is still as normal for everyone today as it was in the past, as those who are related to Sarajevo in spirit affirm the peculiarities and values of all others, and embrace them as their own. And in Bosnia, as well as in Sarajevo, that was always more than that ‘three nations’, because it isn’t good for anybody when you divide and multiply by three. Those neighbourhoods that are called ‘raja’ in Sarajevo comprise not only
Bosniaks, Serbs and Croats, but also Jews, Slovenes, Albanians, Hungarians, Czechs, Poles, Romani and many others who live in the city; they are Sarajevo, where no one was left feeling confined. In short, the entire world of Sarajevo stands there...almost four-hundred thousand city atoms, as Aleksandar Hemon ingeniously described the city. Some of those atoms unfortunately didn’t survive the war, because they chose the right side of history when they defended the city, the right to the freedom to be different, and because of that Sarajevo – and if you like the whole of Bosnia – can only be loved, and that’s an idea for which it’s worth fighting. But there’s a significant number of those who still hate it equally because they don’t like to live together in the unity of diversity.”
Dino has for years had a simple explanation for the disintegration of Yugoslavia. He says that it was created by the best and destroyed by the worst.
“They spat on emancipation and regressed us back decades, into newly created states that haven’t surpassed the former Yugoslav community in terms of any parameter of quality of life even thirty years on. Thus, that country was destroyed by nationalists with their hegemonic policies in which
The nationalists of our region turned out to be the greatest opponents of their own nation and homeland
Bosnia and Herzegovina, as the heart of that former country, wasn’t meant to survive, so they chopped it up according to an ethnic map drawn on a napkin from a luxury restaurant when they’d eaten their fill and belched between bites, with the authors of that sketch being Tuđman and Milošević.
This director has remained inextricably linked to the territory of the former Yugoslavia.
“Yugoslavia wasn’t merely a political ideal, but rather a cultural utopia
that lives on today. The cultural space really, truly exists, and is in productions and co-productions. The nationalist concept for the obliteration of Yugoslavia was also the concept for the obliteration of the Yugoslav cultural model. The demolition of all those cities that represented the civilisational substance of Yugoslavia, where the cultural and historical heritage was ruined. That was a barbaric war that was also led against Yugoslav culture. Sarajevo forged and created a cultural scene that had a strong association with Yugoslavia, and that legacy lives on today.”
That’s why there’s so much denial of the victory of anti-fascism in these lands, as one of the most precious battles won by Yugoslavia in World War II.
“All ethno-nationalisms are connected by their hatred of anti-fascist values, the partisan heritage and the idea of brotherhood and solidarity among the peoples of the former shared homeland of Yugoslavia. Those who present the comparative advantages of that time in comparison to the newly formed states in public continuously are most brutally attacked using the verbal arsenal of right-leaning media outlets and social network bots, such as the Yugo-Communists, Khmer Rouge etc.
Celebrity journalists who are extreme right-wingers write about this with a passion and have no problem with other nationalists, with whom they even cooperate, while they have a civilisational conflict with anti-fascists, both living and dead. It is a tradition for them to trash partisan cemeteries, urinate on the monuments of partisan heroes, not allowing the remembrance – either material or spiritual – of the achievements of that war of liberation. They eliminate the names of streets, squares and institutions that were named after famous heroes of partisan resistance. And history teaches us that nationalism always flirts with racism, and even with religious radicalism, while denying human rights, women’s rights etc.
Those who don’t differentiate between patriotism and nationalism do so deliberately, because it turned out that the nationalists of our region were actually the greatest opponents of their own nation and homeland. We were robbed the most by people who were only ready on paper to die for their nation. That scum of society has the least respect for laws and has benefited the most from the nation and state that they swear an oath to hypocritically. As such, in order to preserve the freedoms that were won in blood in our shared history, anti-fascists must start promoting and developing civil society on a daily basis, defending human and individual rights.”
He is among the few directors who are equally welcome in Sarajevo, Belgrade, Zagreb and Pristina... This is his spiritual space, with all his emotional and professional relationships having been built in those cities, as well as in some of the other cultural hubs of the Balkans.
“The Balkans represent an indelible fact that moulded me professionally. I have no reason to be overly proud or overly shy about my Balkan directorial horizon. The Balkans is the essence of multi-ethnicity and multifaith communities in Europe.”
The story of Dino’s first directing job is a special one. It was the play The Wall, which would mark him permanently as a director and a man, because the play was created during wartime, when the experience of togetherness, solidarity and resistance to violence, evil and destruction was an ethical postulate for him that was inseparable from theatrical aesthetics.
“From today’s perspective, that looks to some like viewing nostalgia, when art was as important as bread and water. I also remember that play for a theatrical curiosity. The décor of the large wooden panel wall was composed of disassembled coffins that we received from the funeral service as a form of sponsorship. In the then wartorn Sarajevo, lumber was priceless as a result of the harsh winters in the
city without fuel sources, so the poster of the play The Wall, based on JeanPaul Sartre’s famous book, remains as probably the only poster in the history of the theatre to carry the logo and signature of the then only possible sponsor: Pokop funeral services!
After a break of 20-odd years, Dino shot his second feature film: The Pavilion, based on a script authored by Viktor Ivančić. When one reads the names of the screenwriters, collaborators, actors etc., it’s easy to conclude that this is a version of Yugoslavia in miniature.
“Men and women of later years, with the help of illegally acquired
Yugoslavia wasn’t merely a political ideal, but rather a cultural utopia that lives on today
weapons, occupy the Pavilion, take the administration and medical staff hostage, and enter into a conflict with the forces of the existing order. However, the rebels succeed in turning this seemingly hopeless situation to their advantage because they attract media attention thanks to the hostage crisis occurring during an election year. The rebels thus manage to manipulate the political elite because their reactions are influenced significantly by the fact that elections are approaching, which is also the regional reality
of pensioners’ existential status. The film will soon have its premiere and theatrical distribution, which I look forward to impatiently.”
It was on 27th March this year that the Belgrade Drama Theatre hosted the premiere staging of the play Birds of a Kind by Lebanese-Canadian playwright Wajdi Mouawad, directed by Dino Mustafić and staged in Serbian for the first time.
“It is rare in any drama that I’ve read in recent years to find such a true experience of catharsis as in Mouawad’s drama: not faltering and resisting history, its centrifugal movement that crushes a person, determines life. Wajdi Mouawad is a writer with the strength of ancient times, when then audiences cathartically watched tragedies and stories that had their essence in recent armed conflicts and their devastating impact on individuals and communities. That’s why I think this story of love, identity and history, of the relationship between two young lovers who come from the Jewish-Palestinian cultural plain, can be both interesting and exciting for our Balkan cultural and life experience.”
In his capacity as managing director of the Sarajevo National Theatre for the last four years, he has given this theatre much greater social, political and cultural potential than that of a mere venue that gathers audiences as exclusive consumers of culture.
“I think that we’ve established a value system, in terms of theatre activity, over these four years of my term... [We’ve established] that there’s no law of aesthetics that must be respected, rather that we should give ourselves to every journey as though it’s a new spiritual adventure. This is how fantastic artists develop, because I think one learns best through differences, contrasts and contradictions, the artistic dialectic, a constant artistic and human debate – not about what is right and wrong, rather a debate about one’s own question – where am I in all this, can I do something
and, if so, how much? Thus, in my opinion, theatre is a parallel life as a journey into an internal, spiritual experiment.
“Regardless of how much they differ, both national theatres and the independent scene should be on the same side in the struggle against the general neoliberal, commercial trend in culture. I’m afraid that we’re seeing the establishing of a public scene that’s seeking its own ‘new values’, spiritual mannequins, phonies who behave narcissistically, for whom media coverage of their work is more important than the artistic essence. They accepted the new context of this time of loudness and sensation, of value relativism, in which everything made by friends is proclaimed in the media as a historic
History teaches us that nationalism always flirts with racism, and even with religious radicalism, while denying human rights, women’s rights etc.
and ingenious masterpiece. That media shriek of self-aggrandisement is disgusting and addresses the public as though they are consumers who could care less whether they’re in a theatre or a shopping centre. Everything can be bought and sold. Artistic integrity is worthless, while subservience and conformity can be bought for a small price. Theatre only makes sense when
it brings things into question, opens discussion and conducts dialogue, which is then most often considered subversive. There are ever-fewer such authors on the regional theatre scene, because any authentic opinion must come into conflict with norms tolerance and decency.
Production is declining rapidly in the Balkans and there is a constantly reducing possibility that we will remember some plays as marking the history of theatre, because only those done differently and courageously are remembered. There are almost no such plays on many performance schedules, as there mustn’t be any social scandal or transgression that would upset the conservative or partocratic spirit.”
Out RONALDO NEARS
1,000 CAREER GOALS
Cristiano Ronaldo has now scored 933 career goals for club and country, edging closer to the historic 1,000-goal milestone. At 40, he shows no signs of slowing down, continuing to thrill fans with record-breaking performances on the field.
129-YEAR-OLD MONK JOINS MAHA KUMBH FESTIVAL
Swami Sivananda, aged 129, travelled to the 2025 Maha Kumbh festival in India, maintaining his legendary routine of yoga and simplicity. Recognised as the world’s oldest man, his peaceful discipline continues to inspire across generations.
RECORD SUNSHINE BRINGS BUMPER CROP OF ASPARAGUS AND RHUBARB
England experienced its sunniest March since records began in 1910, leading to an early and abundant harvest of asparagus and rhubarb. Farmers in regions like Worcestershire and West Yorkshire reported increased yields, with online sales of rhubarb up by 88% year-on-year.
SPAIN
OPENS
SANCTUARY FOR ELDERLY ELEPHANTS
A zoo in Spain has created a peaceful sanctuary for elderly elephants rescued from captivity who cannot return to the wild. This ethical approach improves animal welfare and supports conservation efforts by freeing up resources and space in sanctuaries for more urgent rescues.
RARE BEATLES ALBUM SELLS FOR $5,000
A collector’s edition of The Beatles’ debut album Please Please Me, pressed with the original black-and-gold Parlophone label, recently sold for over $5,300. The record’s value proves Beatlemania is still alive—and collecting—over 60 years later.
PLANET CAUGHT DISINTEGRATING 140 LIGHT-YEARS AWAY
MIT astronomers witnessed a distant exoplanet slowly falling apart as it orbits dangerously close to its star. Named BD+05 4868Ab, the planet leaves behind a comet-like trail, offering a rare look at planetary decay in action.
SLEEK,
SMART & ESSENTIAL
The 2025 Tech Edit: Beautiful Gadgets That Make Life Easier
From AI-powered accessories to design-forward essentials, these are the gadgets redefining modern living.
Apple AirTag
4-Pack
Keep track of your belongings effortlessly with these small, coinsized trackers that integrate seamlessly with the Find My app.
Charmast Small Portable Charger
Motorola Razr Ultra (2025 Edition)
A foldable phone with a nostalgic twist—featuring a real wood grain back panel, titanium hinge, and Moto AI for smart memory and notifications.
A compact, cord-free charger that plugs directly into your iPhone—ideal for on-the-go power without the bulk.
She’s Birdie Personal Safety Alarm
A compact safety device emitting a loud siren and flashing light to deter potential threats and attract attention in emergencies.
Etekcity Luggage Scale
Prevent overweight baggage fees with this portable scale that provides accurate weight measurements for your luggage.
Dyson Airwrap™ Multi-Styler and Dryer
The ultimate hair tool with multiple attachments for styling versatility, combining drying and styling in one device.
Soundcore
Anker Life Q20 Headphones
Yogasleep Hushh Portable White Noise Machine
A travel-friendly white noise machine offering customisable sounds to ensure restful sleep wherever you are.
Affordable noise-cancelling headphones delivering high-quality sound and comfort for extended listening sessions.
Ceptics International Travel Adapter
A versatile travel adapter compatible with outlets in over 150 countries, ensuring your devices stay charged worldwide.
Ray-Ban Meta Wayfarer Smart Glasses
Classic Ray-Ban style meets Meta’s AR tech, offering handsfree photos, calls, and real-time notifications in a sleek design.
IVAN BESSONOV (PIANO CONCERT)
28 May – Kolarac Endowment
Young Russian pianist Ivan Bessonov, winner of prestigious awards, will perform in Belgrade with a programme featuring works by the great masters of piano music. His performance promises to be a captivating display of technical brilliance and emotional depth, as he brings new interpretations to classical masterpieces.
XXVI GUITAR ART FESTIVAL
14–18 May - Kolarac Endowment, National Theatre, Belgrade Youth Centre
The Guitar Art Festival is one of the world’s five most prominent classical guitar festivals. It transforms Belgrade into a global hub for guitar enthusiasts, featuring world premieres, concerts, and a platform for the exchange of knowledge and experiences among guitarists worldwide.
PARTIBREJKERS AT KONTAKT 2025
31 May - Luka Beograd – Port of Belgrade
Partibrejkers, one of the most iconic rock bands in the former Yugoslavia, will headline the closing event of Kontakt 2025 at Luka Beograd. Three years after their spectacular 40th-anniversary performance at the Belgrade Fair, the band returns for a solo concert, reaffirming their legendary status among rock enthusiasts. The concert will showcase their extensive repertoire accumulated over four decades.
BELGRADE PHOTOGRAPHY MONTH
Throughout May – 9-24 May, Museum of Applied Art (among other venues)
As part of the Belgrade Photography Month, the Polish Institute is hosting an exhibition featuring the work of three remarkable Polish female photographers. The exhibition provides an in-depth exploration of contemporary Polish photography, highlighting the unique perspectives and innovative approaches of these women artists. Their works cover a wide range of themes, from personal narratives and identity exploration to broader socio-political issues, offering a multifaceted view of modern life in Poland.
ADVANCES IN SOLID STATE PHYSICS AND NEW MATERIALS CONFERENCE
19–23 May, SASA Grand Hal, Belgrade
The international conference “Advances in Solid State Physics and New Materials” is being organized to celebrate the 30th anniversary of the Center for Solid State Physics and New Materials at the Institute of Physics Belgrade (IPB). The conference, subtitled “30 Years of the Center for Solid State Physics and New Materials at the Institute of Physics Belgrade”, will take place from May 19–23, 2025, as a joint endeavor of the Department of Natural Sciences of the Serbian Academy of Sciences and Arts (OTN SANU) and the Center for Solid State Physics and New Materials, IPB.
MUSIC AND COGNITIVE PURSUITS: TRUTH VS AUTHENTICITY, PUBLIC LECTURE
7 May, SASA Branch in Niš, Multimedia Hall of the University of Niš
Prof. Dr Marina Ivanova Bakalova Institute of Philosophy and Sociology, BAS (Sofia, Bulgaria)
UROŠ PREDIĆ AND HIS WORKS – GUEST EXHIBITION
8–26 May, SASA Gallery Belgrade Author: Jelena Mežinski Milovanović
Uroš Predić (1857–1953) was a Serbian realist painter, regarded as the most important Serbian artist of the Realism movement. He is best remembered for his early works, which depict the everyday lives of ordinary people with great authenticity. Later in his career, he made significant contributions to church painting and portraiture. Predić’s body of work comprises a total of 1,658 pieces.
BEETHOVEN EVENING, CONCERT – UKI OVASKAINEN, PIANO
15 May, SASA Gallery Belgrade
As part of the project O-36-24 “Theory of Multiple Grounding of Meaning: Language, Music, Visual Cognition” (Project Coordinator: Academician Aleksandar Kostić, Project Leader: Prof. Dr Mihailo Antović).
Uki Ovaskainen is a laureate, recipient of the special “Contemporanea” award, and the audience award at the “Premio Jaen” competition in Spain. He studied at the Sibelius Academy in Helsinki, the Royal Danish Conservatory in Copenhagen under Professor José Ribera, and at the soloist department of the Hochschule für Musik und Theater in Hanover under Professor Matija Raekallio.
Faces & Places
French-Serbian Chamber Hosts ‘Belgrade of the Sixties’ Gala
20/3/2025
The French-Serbian Chamber of Commerce held its annual Gala in Belgrade, gathering over 220 members and partners. With the theme “Belgrade of the Sixties,” the evening celebrated a vibrant era of cultural and social growth. President Dragan Stokić praised members’ support, highlighting the Chamber’s past achievements and future ambitions.
The Annual Assembly of the Slovenian Business Club Held
25/3/2025
The annual assembly of the Slovenian Business Club took place at the elegant Hotel IN, gathering over 50 members. Dr. Janez Vončina, an esteemed lawyer from JPM & Partners, was elected president of the assembly, marking a new chapter for the club. Danijela Fišakov, the club’s president, presented the Annual Report and Financial Statement for 2024, both of which were unanimously approved. The report highlighted an impressive membership growth to 153 members, the organisation of 28 events, including business meetings, panel discussions, regional conferences, and CEO gatherings, as well as more than 170 individual meetings that solidified the club’s influence within the business community.
Nordic Embassies Promote Smart Cities in Serbia
1/4/2025
The “Energy Efficient Smart Cities – A Window to the Future” conference was held at MIND Park in Kragujevac, organised by the Danish Embassy in Serbia. Part of the regional initiative “Nordic Green and Smart Cities,” the event brought together Nordic embassies and the Nordic Business Alliance to foster innovation and partnership across the Western Balkans.
Speed Business Meeting of Five Bilateral Business Associations
7/4/2025
In the IN Hotel, a Speed Business Meeting was held in which members of five bilateral business associations participated - the Hellenic Business Association of Serbia, the Slovenian Business Club, the Swiss-Serbian Chamber of Commerce, the Belgian-Serbian Business Association and the Croatian Business Club. The event brought together 50 representatives of associations from various business sectors. The participants, during 10 eight-minute one-on-one meetings, had the opportunity to quickly and efficiently present their companies to potential partners, to exchange information and consider opportunities for potential cooperation.
Faces & Places
Open4Business Empowers MSMEs in the Western Balkans
9/4/2025
Belgrade hosted the “Open4Business: Empowering MSMEs in the Western Balkans – Pathways to the EU” conference, organised by the European Commission’s Directorate-General for Enlargement and Eastern Neighbourhood (DG ENEST) in collaboration with the Chamber of Commerce and Industry of Serbia and the Western Balkans 6 Chamber Investment Forum. The event convened over 300 participants from Serbia and neighbouring countries, facilitating discussions on accessing EU-backed financing, fostering public-private partnerships, and enhancing regional cooperation to support micro, small, and medium-sized enterprises (MSMES) in their journey toward EU integration.
Burnout Unveils New Ducati Centre in Belgrade
14/4/2025
Burnout has opened a new Ducati sales and service centre at Bulevar Milutina Milankovića 3v, New Belgrade. The 300m² Ducati showroom, 120m² multi-brand shop, and 280m² service area mark a new chapter in Burnout’s decade-long partnership with the iconic brand—promising top-tier service for motorcycle enthusiasts. Burnout’s new location is set to become a hub for riders, offering not just premium motorcycles but also expert advice, authentic gear, and a passionate community.
ESG Adria Summit Gathers Global Leaders in Tivat
9-11/4/2025
The ESG Adria Summit 2025, held from April 9–11 in Tivat, Montenegro, convened over 700 global leaders to advance sustainability and ESG practices in Southeast Europe. Hosted at Porto Montenegro and organized by Sustineri Partners in collaboration with the Government of Montenegro, the summit featured discussions on sustainable finance, energy transition, AI’s role in the future of work, and climate resilience. Notable speakers included Sultan Al Jaber, COP28 President; Katrín Jakobsdóttir, former Prime Minister of Iceland; and Cherie Blair, CBE, KC. The event also introduced the inaugural Sustainable Adria Awards, recognising excellence in sustainability and corporate responsibility.
The REGION magazine at the ESG Adria SUMMIT
Faces & Places
Team Sweden Backs Serbia’s Green Transition
11/4/2025
The Embassy of Sweden, in partnership with the Serbian Chamber of Commerce, hosted the “Sustainable Partnerships” conference in Belgrade, spotlighting Sweden’s green innovation and its role in Serbia’s transition to a sustainable economy. Led by Minister Jessica Rosencrantz, the high-level Team Sweden delegation shared insights on boosting green investments, the impact of Serbia’s new investment grade status, and the opportunities tied to EU market access. Discussions also focused on the EU’s growth plan and the upcoming Carbon Border Adjustment Mechanism. The event reinforced Sweden’s commitment to fostering collaboration and innovation in Serbia’s green development.
