Vucic: PWO Group plant in Cacak symbol of partnership, shared vision of future

CACAK - Serbian President Aleksandar Vucic said a factory opened by German car parts maker PWO Group in Cacak, central Serbia, on Thursday was a symbol of partnership and a shared vision of the future, as well as of good economic relations between Serbia and Germany.

At the opening ceremony, Vucic said the volume of bilateral trade with Germany would exceed 10 bln euros this year.

"For us, this is a major event and important news. The great Goethe once said that every bold idea looks like madness in the beginning. Our joint journey lasted for four years, since the summer of 2021, when the first contacts were established," he said.

"This is an important moment that speaks loudly of trust, vision and partnership," Vucic added.

For the first time ever, Serbia will have a trade surplus with Germany this year, he said.

"Not because we are the better economy, but because we have German companies that export their goods to Germany," Vucic noted.

He said the city budget in Cacak would be much higher thanks to investments such as the arrival of PWO Group.

He said the company was planning to expand operations and create more jobs in the city.

PWO Group CEO Carlo Lazzarini said the opening of the factory was very important for the company and that the plant would secure a better future for all residents of Cacak.