Serbia, Japan sign agreement on mutual promotion and protection of investments

BELGRADE - Serbian Minister of Internal and External Trade Jagoda Lazarevic and Japanese Ambassador to Belgrade Akira Imamura signed on Wednesday a Serbia-Japan agreement on mutual promotion and protection of investments, aimed at further strengthening and completing the legal framework for advancement of bilateral investment cooperation.

Speaking to reporters after the document was signed in the Serbian government building, Lazarevic said it was an exceptionally important agreement and a crucial one when it comes to further development of economic cooperation and ensuring legal certainty to investors.

"Everyone knows that Japan is an exceptionally important investor in Serbia and our wish is to keep advancing the investment cooperation with that country, which is known for application of new technologies, for exceptional standards, work ethics and business philosophy, and for everything we want to learn from them," she said.

Lazarevic noted that the agreement would lend a strong impetus not only to an expansion of existing Japanese business operations in Serbia, but also to new Japanese investors coming to the country.

"This agreement definitely represents an important step forward in further progress of our overall relations, especially in investment cooperation between Serbia and Japan," the minister said.

She added that the agreement was a result of intensive bilateral activities, including a September visit to Japan by Serbian President Aleksandar Vucic.

Imamura said the agreement would bring added value and greater legal certainty to Japanese companies in Serbia.

It will also help to further promote environmental protection, the circular economy and other principles of sustainable development, he said.

Imamura added that the agreement was expected to be ratified next year and would boost interest in Serbia among Japanese investors.