Reuters Insider - Russia food ban isn't bad news for all
18/08/2014 21:43
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Source: Thomson Reuters
Description: Russia's food import ban on the West has opened
the doors to Serbian exporters looking to
capitalise on traditional ties with Russia.
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Transcript (May be auto-generated)
Even as European sanctions bite in Russia, and hurt some EU firms, one country
in the region hopes to gain an advantage. Serbian exporters are trying to
capitalize on Russia's ban on importing food from the West. Meat, fish, dairy,
fruit and vegetables from the US and the EU among others now have to be sourced
elsewhere. If things go well, agricultural experts like Milan Prostran says the
rewards could be great. We have a chance that does not come along very often.
Neighboring countries also implementing sanctions against Russia will see their
exports suffer, but taking advantage of this chance means heavy investment,
better organization, and support from the state. Links between Serbia and Russia
have traditionally been strong. But Serbia is also looking to the West and hopes
to join the European Union in the future. Zeljko Sertic is Director of Serbia's
Chamber of Commerce and Industry. The Russian situation won't see benefits for
Serbia in just a month or two, but for us this is a chance to foster better
competition from our companies in Russia as well as Europe, and possibly open a
path towards the European Union. Serbia also says it will keep a close eye on
the sale of agricultural products to Russia from the EU, so as not to infringe
EU sanctions. But the director of Apple World, 200 kilometers north of Belgrade,
has concerns. The chance to expand Russian exports could be a double-edged
sword, as it might mean the closure of some economic channels with the EU. That
would mean we couldn't sell to them, and I think this situation is one that
isn't necessarily good news for all of us. The sanctions could present a chance
that few businesses in Serbia will want to pass up. But they're also a political
and economic tightrope Serbian companies don't want to fall off