October 23 (SeeNews) - The biggest problem facing Serbia's economy is the outflow of workforce to the markets of central Europe, Marko Cadez, president of the country's Chamber of Commerce, said on Monday .
Emigration has been the common problem of Serbian companies year-to-date, as neighbouring countries in central and southeastern Europe also struggle with a shortage of skilled workers, Cadez said in a video file posted on the website of Serbian news agency Tanjug.
"It is not only Austria, what we were used to before, it is also Slovenia, Slovakia, the Czech Republic, Hungary and Romania," Cadez said during the 17th Serbian Economic Summit held in Belgrade, pointing out that all these countries have liberalised their regulations to facilitate the migration of workers.
The large costs of administrative procedures also represent a serious problem for foreign companies doing business in Serbia.
"Today, foreign companies have double as many costs for documentary compliance than companies in the EU. Many companies also have 50% higher logistical costs than those in the EU," Cadez said.
The solution is to integrate the Western Balkans into the EU as a region rather than as separate countries, Cadez added.
"We have to commit resources, money and people if we want to do that," Cadez noted.