FEATURED THE SPIRIT OF LIBERTY HAS ALWAYS CONNECTED US
Alexander Titolo
Chargé d’Affaires, U.S. Embassy in Serbia
EVENT STARS, STRIPES, AND SHARED VALUES
Celebrating 249 Years of Freedom and a Renewed U.S.-Serbia Partnership
BUSINESS INTERVIEW
INNOVATION, AGILITY AND PARTNERSHIPS AS STRONG DRIVERS OF SUSTAINABLE GROWTH
Saša Marković
General Manager of Coca-Cola HBC Serbia and Montenegro
Welcome address by U.S. Embassy Chargé d’Affaires Alexander Titolo marking the 249 th anniversary of American independence.
ALEXANDER TITOLO
Chargé d’Affaires, U.S. Embassy in Serbia
Welcome. It is a great honour for my wife Janelle and me to welcome all of you to the celebration of the 249th anniversary of American independence.
It’s hot, I’m not an ambassador, and I speak Serbian—so my speech will be short and clear. Thank you to Speaker of the National Assembly Brnabić, the ministers present, religious leaders, and distinguished guests from all sectors of Serbian society for taking the time to be here with us tonight. Thanks also to the many sponsors who made this event possible through their generous support.
We are proud of the value American companies bring to the Serbian economy, and we will continue to work on strengthening business ties between our two countries. Tonight, we are celebrating the independence declared boldly by a freedom-loving people. That spirit of liberty has always connected Americans and Serbs.
It made us allies in two World Wars, and helped shape our identities. Now, it can serve as a guide for a new era in the relationship between Serbia and the United States. President Trump outlined a new vision for America’s relations with other nations based on practical realism.
This vision looks beyond past conflicts and invites us to forge a better, safer, richer, and more stable world through new partnerships. That is an extraordinary opportunity, especially for Serbia. For too long, U.S.-Serbia relations were stuck in mistrust rooted in the 1990s.
We have worked hard to strengthen those ties through major support for the people and
YOU ARE THE PROOF THAT OUR RELATIONSHIP CAN BE BASED ON THE FUTURE, NOT THE PAST
institutions of Serbia. Probably, there is no place in Serbia that hasn’t in some way been touched by the selfless assistance of the American people and our institutional partnerships. In the past
25 years, we’ve helped modernise public administration— from courts and the police to the tax system, procurement procedures, permits, and more. We’ve supported your economic
development, from the film industry and agriculture to technology and innovation. We’ve helped Serbian universities train talent sought after by world-renowned companies and by NGOs working to empower local communities.
We have done all of this to lay the foundations for restoring our relations and returning them to their rightful historical footing: a place of trust and forward-looking strength. Those foundations are now firmly in place.
I see them before me as I stand here and look at all of you. You are the proof that our relationship can be based on the future, not the past. I know Serbia is ready to seize this opportunity—and so is America.
The foundations are here; now we must build on them. And that’s what we’re doing. This autumn, we will open the American Space “The Arc” in the old railway depot, which will showcase my country’s commitment to working together toward Serbia’s future—a future of a dynamic economy and creativity. And in two years, we will be here again at EXPO 2027, to show Serbia a new dimension of the United States, while you simultaneously present Serbia to the world in a new light.
Finally, I want to remind you that today marks the start of the countdown to a major milestone for my country. Next 4th of July, we will celebrate our 250th birthday.
Throughout the year, there will be numerous events and activities under the America 250 label. For you, this will be a chance to rediscover America. You will see that we are a nation that honours its past, but is always focused on the future. Our freedom-loving spirit does not allow us to be prisoners of the past. That is why we believe that in the future, U.S.-Serbia relations will be stronger than ever. Once again, thank you for celebrating with us tonight, and enjoy the evening.
On July 1, 2025, the U.S. Embassy Residence in Belgrade hosted a vibrant reception marking the 249th anniversary of American independence. Chargé d’Affaires Alexander Titolo welcomed guests with a speech delivered in Serbian, emphasising shared democratic values and the evolving U.S.-Serbia relationship.
“You are the proof that our relationship can be based on the future, not the past,” he said, underscoring the event’s symbolic weight and forward-looking spirit. He also announced the upcoming opening of the American Resource Centre (ARC) and highlighted Serbia’s role in EXPO 2027.
Among the distinguished attendees were Ana Brnabić, several ministers, religious dignitaries, and prominent figures from Serbia’s political, cultural, and public sectors. Their presence underscored the event’s significance as a symbol of enduring bilateral friendship and future collaboration.
Independence Day, celebrated each year on July 4th, commemorates the adoption of the Declaration of Independence in 1776, marking the United States’ formal separation from British rule. Traditionally, the holiday is marked with fireworks, parades, concerts, barbecues, and gatherings across the country—an expression of national pride and civic unity. Festivities at U.S. embassies around the world reflect both American traditions and the spirit of friendship with host nations.
General Manager of Coca-Cola HBC Serbia and Montenegro
In today’s business environment, sustainable growth requires readiness for constant change. This kind brings new value through innovation and enables swift adaptation, while preserving the principles of sustainability and responsible action within the local community. In an interview with Diplomacy & Commerce, Saša Marković highlights that newer generations today do not choose products alone, but also the values and reputation of the companies behind them, as well as their willingness to contribute to a more sustainable future.
The Coca-Cola system in Serbia combines the strength of global brands with tangible contributions to the local community. How do global standards shape your local business strategy?
Coca-Cola HBC Serbia is part of a large international system, and we bring some of the world’s most renowned beverage brands to the domestic market. At the same time, we are deeply rooted in the local community – we employ people from Serbia, produce locally, rely on domestic suppliers and work daily with around 37,000 customers across the country. Our bottling plants are located in Zemun, Neresnica, and in the south of Serbia, where the “Rosa” water bottling plant – Vlasinka – is located. At the same time, our distribution network comprises nine centres across Serbia and Montenegro.
Today, for the first time, all three companies that make up the system – the Coca-Cola Company, Coca-Cola HBC Serbia and Bambi – are led by people from Serbia, experienced local professionals. This two-way connection – learning from global experience and transferring best practices while also building and contributing locally – is key to our resilience and competitiveness.
Although in recent years we have faced a series of complex global challenges requiring quick responses, adaptation and resilience, the market dynamics continue to push us to seek new growth opportunities. Thanks to the strength of our partnerships, the commitment of our local team and a strong culture of adaptability, we have succeeded in doing so and secured further investments for the future.
Marković, General Manager Coca-Cola HBC Serbia and Montenegro
COCA-COLA SYSTEM DRIVES
0.9% OF SERBIA’S GDP AND 22,600 JOBS - ACCORDING TO 2023 SEIS DATA
It seems that the popular “Share a Coke” campaign, which returned to consumers in a big way after more than a decade, is a great example of how global initiatives can be successfully adapted to the local context. How would you assess the success of this campaign?
“Share a Coke” is not just a marketing campaign – it’s a platform for connection, and this year it takes on an even more pronounced local character. Our consumers expect authenticity, emotional relevance and cultural closeness – and that is precisely what we aimed to provide. In this way, we are not only communicating but also engaging in a dialogue with our consumers. We enabled them to find a part of themselves in the product and share it with others, which is the essence of this campaign. Many of our consumers know that Coca-Cola has been produced in Zemun, in Batajnica, for nearly six decades. Our products have always been a symbol of togetherness, of sharing meaningful moments and bringing families
together. We are pleased to see that consumers continue to choose us every day as their favourite domestic – and global–brand.
Coca-Cola has been present in the Serbian market for nearly six decades. Rosa, however, had a somewhat different journey, evolving from a local to a regional brand. What set Rosa apart, and how did the global system contribute to that success?
There are still people in our system today who remember that February of 2005, when word spread through the corridors that “something big” was coming. And indeed, it was a decision that broke new ground – the acquisition of the Rosa brand, then a small bottling plant in Surdulica, marked the first purchase made by the Coca-Cola system in Serbia and Montenegro. From today’s perspective, twenty years later, we can proudly say that this decision was one of the most successful investments in the history of our operations in this part of Europe.
In the meantime, we have invested not only in production capacity – from one line to the four we have today – but also in knowledge, people, standards and environmental preservation. More than 17 million euros have been invested in modernising the facility, improving technology, packaging and distribution, as well as in training, employment and the development of the local community. The number of employees has more than doubled, while Rosa has become a leader in its category and a recognised brand across the entire region.
We studied the spring, consumer habits, and the legal framework, and we invested in certification and quality standards. Today, Rosa is much more than a product – it is a symbol of trust and responsibility. From pioneering ecopackaging, which contains 30% plant-based material, to achieving AWS certification for responsible water resource management – the first of its kind in Serbia.
But what we are most proud of are not the figures, but the impact we’ve made on people’s lives. More than 15 years ago, we launched an initiative to support families with newborns. Since then, together with our consumers, we’ve helped establish the first human milk bank and opened parenting schools across Serbia. At the same time, through the “Vlasina Pure Love” project, we actively contribute to the protection of this unique natural area through the creation of 47 kilometres of hiking trails around Vlasina, environmental education, and support for local hospitality businesses. Rosa has thus become a symbol of responsibility towards health, community and nature.
As the largest producer of beverages and confectionery products in Serbia, your system makes a significant contribution to retail and hospitality, as well as to the overall economy. How do you measure the impact and satisfaction of your partners, and how do you use that data in shaping your strategy?
It is rare to see examples in Serbian business where large systems measure their impact and contribution to the national economy across
the entire value chain – the way the Coca-Cola system has done for over a decade through the Socio-Economic Impact Study. If I were to choose the correct term to describe the results we’ve achieved over the years, I would say it is continuous growth while respecting the principles of sustainability.
The latest findings from the Study, covering 2023, show that the Coca-Cola system and the company Bambi generated 633 million euros in added value, which represents 0.9% of Serbia’s GDP – a clear indication that our contribution is stable, measurable and consistently present. We stimulate employment and local community activity through 22,600 jobs across the broader value chain, which means that every job within the Coca-Cola system or Bambi generates an additional 11 jobs. For us, this report goes beyond figures – it affirms our long-term commitment to being a reliable partner in Serbia’s development, convinced that true value lies in the synergy between economic success and social responsibility.
Likewise, we know that no success is complete without the satisfaction of those with whom we win on the market – our customers, who are at the core of all our operations. We monitor our NPS – Net Promoter Score – daily, and not only as a report for management, but via screens placed in such a way that every employee can see and understand customer needs and expectations in real time. We read the comments, we talk about them, and – most importantly – we react quickly to every potential issue our customers raise. We have dedicated teams ready to respond swiftly, and every piece of feedback helps us learn and grow. We proudly highlight that our NPS reached 83 at the end of 2024, aware that trust is built
at every step, from production to retail and in every conversation with our customers.
Can a company grow, innovate and remain committed to sustainability at the same time?
Our investment cycle in 2024 reached 36 million euros. Still, beyond investing in production modernisation – such as the introduction of the state-of-the-art “SmartCan” canning line and the start of construction on a new warehouse that will increase our capacity by 70% – our aim is for all these investments to contribute to reducing our carbon footprint, aligned with our Group-wide Net Zero by 2040 mission. In line with this, we are reducing CO2 emissions, improving efficiency and upgrading our processes. We also have high ambitions when it comes to implementing artificial intelligence and are making significant investments in digitalisation – around three million euros invested just last year.
However, investment in our people and the development of their skills is a strategic decision that truly makes a difference, because without a strong team, there can be no sustainable growth. We encourage our employees to learn, progress and take on new roles within the system – sometimes even in areas traditionally perceived as “male” roles – and we take great pride in receiving their feedback through internal surveys, where they express their willingness to recommend Coca-Cola HBC as a great place to work and grow, both personally and professionally.
Over the past year, we conducted more than 33,000 hours of training, alongside talent development programmes, mentorship and employee empowerment – because their satisfaction and trust are just as important as any financial indicator. At the heart of everything we do lies the belief that a successful and profitable business can – and must – go hand in hand with sustainable principles, people development and trust-building. That’s why we continue to bring together the best of both worlds – the global system and local presence – to achieve stable growth.
AFTER THE FORUM GEOTHERMAL ENERGY 2025: HOW HEAT FROM THE DEPTHS CAN BENEFIT OUR FUTURE
Harnessing Serbia’s untapped geothermal wealth to fuel a cleaner, more resilient energy future
ALEXANDER PALKOVSKY
Vice President of the Palkovsky Group
Although Serbia possesses one of the highest geothermal potentials in Europe, this renewable resource remains significantly underutilised in its national energy mix. In this interview, Alexander Palkovsky, Vice President of the Palkovsky Group, shares insights into Serbia’s geothermal landscape, its role in the broader energy transition, and the company’s vision for Valjevo - a region with considerable natural resource potential and strong ambitions for sustainable development.
What motivated you to invest in Serbia, and what values do you carry as a family-owned company in your business?
Our investments in Serbia have been driven by a combination of “win-win-win” opportunities, shared family values, and a strong connection to the region. My father, Petr Palkovsky, Founder of the Palkovsky Group, and I share a strong belief in ethical, transparent, and sustainable business practices. We are committed to ensuring that every project delivers value not only economically, but also socially and environmentally.
When my father shared with me his objectives and vision for Serbia, I recognised a unique opportunity to contribute to the green transition in a region closely tied to our heritage. With my experience in renewable energy, I decided to join him in advancing the company’s projects in Serbia.
At Palkovsky Group, we have built a team of leading experts in geology, engineering, energy and
GEOTHERMAL ENERGY IS NOT A REPLACEMENT, BUT A POWERFUL ADDITION TO SERBIA’S ENERGY MIX — CLEAN, LOCAL, AND RELIABLE
hydrogeology - professionals who bring not only deep expertise but also a strong commitment to our shared values. Their integrity and
dedication ensure that our projects are conceived and executed with the environment and society atop of mind.
Geothermal energy is often called the “silent hero” of the energy transition. How do you see Serbia’s potential in this field?
Serbia holds enormous, yet largely untapped, potential in geothermal energy. With over 360 identified thermal water sources across the country - the majority of which remain unused for energy
purposes - the opportunity is clear. Remarkably, Serbia ranks fifth in Europe for geothermal potential, yet its contribution to the national heat supply is minimal.
Our goal is not to displace existing energy sources, but to enhance the diversity and resilience of Serbia’s energy mix. Geothermal energy offers a domestic, renewable, and stable source of heat - one that can complement other solutions, reduce pollution, improve energy efficiency and the quality of life of everyday citizens. It uses safe, proven technology, which is closed-loop and poses little risk relative to other sources of energy.
Beyond district heating, geothermal energy can also support agricultural production through year-round greenhouse operations and contribute to the development of health and wellness tourism, vital for revitalising local economies. Unlike imported fuels, geothermal energy is immune to geopolitical volatility and price fluctuations. It is a strategic resource beneath our feet, and we believe it can play a complementary role in Serbia’s energy future.
How do you plan to conduct geothermal research, and how do you intend to use those resources in Valjevo?
Our approach is structured and phased, starting with exploratory studies conducted in collaboration with local experts and institutions. The first phase focuses on geological research and feasibility analysis. Should the results prove favourable, from economic, environmental, and social standpoints, and with support from the local community and authorities, we will progress to the development and utilisation phase.
Leveraging our in-house experience in renewable energy, we will lead the process end-to-end - from exploration, to feasibility, to implementation. I would like to highlight the exceptional expertise of key members of our executive team, including Mr. Rob McCurdy, ICD.D, Chairman of the Palkovsky Group, with over 30 years of global leadership in energy, infrastructure, and resource sectors, and Mr. Adnan Khan, P.Eng., our Chief Operating Officer, who brings decades of experience managing important sustainability-focused projects worldwide.
Transparency is central to our work. The citizens of Valjevo will be continuously informed of research progress, findings, and
WE WANT VALJEVO TO BECOME A NATIONAL EXAMPLE OF HOW SUSTAINABILITY, COMMUNITY ENGAGEMENT, AND ENERGY SECURITY CAN GO HAND IN HAND
projected outcomes. This is not a top-down initiative - it is a collaborative process with the local community at its core.
How could the implementation of geothermal energy impact pollution and heating costs in Valjevo?
Valjevo has faced persistent challenges with air quality, especially during the winter months. In a study we commissioned in 2022, five high-potential geothermal zones were identified by the University of Belgrade’s Laboratory for Geothermal Energy, including one located beneath the city’s heating plant. This opens the possibility for relatively simple integration of geothermal energy into the existing district heating system.
Our intention is not to dismantle current infrastructure but to strengthen and diversify it. Geothermal energy could support seasonal demand, particularly during transitional periods, and complement fossil fuels for baseload heating needs, while ensuring reliable service.
This is a proven technology, widely used in similarly sized European cities such as Munich, Germany. Utilising domestic heat sources can reduce public
expenditures, lower energy costs for residents, and significantly cut emissions over time. We believe that geothermal presents a “winwin-win” opportunity for Valjevo and Serbia.
In June, the Forum on the geothermal potential of Valjevo and Serbia was held in Divčibare. How important are such events for raising awareness and accelerating the energy transition?
The Forum in Divčibare served as a vital platform for dialogue among local government representatives, international diplomats, investors, and energy experts. It was an honour to welcome respected guests, such as H.E. Michelle Cameron, Ambassador of Canada to Serbia, H.E. Jan Bondy, Ambassador of the Czech Republic to Serbia, as well as Mr. Đorđe Milanović, Deputy Mayor of Valjevo and Mr. Aleksandar Ljubić, Executive Director of the Foreign Investors Council.
Their presence underscored that Serbia’s energy transition, both locally and nationally, enjoys domestic and international backing and must be pursued with transparency, professionalism, and public benefit in mind.
Events like these are essential. They build bridges between municipalities and foreign embassies, academia and business, policymakers and engineers. Constructive dialogue is key, and the Divčibare Forum demonstrated that Valjevo is prepared to participate in and lead that dialogue.
What are the following key steps to realise the geothermal potential in Valjevo?
If our timeline proceeds as hoped, geothermal heat delivery for Valjevo could begin within two years in time for Expo 2027 – an ambitious but achievable goal. In the interim, it will be necessary to complete various studies, compile technical documentation, engage Serbia’s expert community and establish the form of partnership with the Valjevo Municipality to access the existing district heating distribution infrastructure.
Geothermal technology is mature, with many successful reference projects globally, offering us a valuable roadmap. Furthermore, there are many successful examples of public-private partnerships in Serbia, which we can and will refer to going forward.
Our vision is for Valjevo to serve as a national example of responsible and community-driven natural resource development. At the same time, we aspire to contribute to Serbia’s broader energy mix — reinforcing national energy security through innovation and sustainability, not in opposition to, but in partnership with, existing energy solutions.
A Serbian-American love story wrapped in tradition, diplomacy, and a touch of fashion flair
In Washington, Serbian Tatjana Rajić and American Christopher Rowe found a shared path through their Orthodox faith, blending tradition, love, and family in a unique wedding that brought together friends from both sides of the Atlantic.
Tatjana’s mother, Drina Vlastelić Rajić, is the head of the Representation of the Republic of Srpska in Washington. In a city where cultures meet and stories intertwine, an unforgettable celebration took place at the Serbian Orthodox Church of Saints Peter and Paul.
Tatjana Rajić, originally from the former Yugoslavia, and Christopher Rowe, an American, exchanged vows before God and the people they love. The ceremony was led by Father Vasilije Vranić, priest of the Serbian Orthodox Church, who has known the couple for years and blessed their marriage with warmth and sincerity.
Guests traveled from all across the United States — Kentucky, Texas, Illinois, Florida,
Arizona, Michigan, Maryland, New York, Mississippi, Virginia, Massachusetts, Delaware, Pennsylvania, Wisconsin — as well as from Russia, Republika Srpska, and Serbia, eager to celebrate Tatjana and Christopher’s big day.
Among the guests was Svetlana Horvat, widely known as the “First Lady of Serbian Fashion” and the president of Serbia Fashion Week. Alan Smith served as the an honorary role deeply rooted in Serbian wedding tradition, symbolizing family ties and respect. His connection to Serbian culture runs deep, thanks to his wife, Marija Živanović Smith — a woman of remarkable energy and achievement, and proud recipient of Serbia’s Gold Medal for Merit. Marija was the wedding’s godmother.
At the heart of the celebration were Tatjana’s family and friends, led by her mother, Drina Vlastelić Rajić, who dedicates herself to building connections between her homeland and the United States, both personally and professionally.
IN THE HEART OF WASHINGTON, A SERBIAN BRIDE AND HER AMERICAN GROOM TIED THE KNOT WITH BLESSINGS, BALKAN MUSIC, AND GUESTS FROM THREE CONTINENTS
