COUNTRY PROFILES
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MacedoniaCapital Currency Population EU status GDP Employment Government type Religions Languages Exports Imports |
COUNTRY PROFILE
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Macedonia |
Print articleThe Republic of Macedonia — located in the heart of South-east Europe — is a “must consider” country for any US company interested in the production and distribution of products and services throughout the fastgrowing South-east European market. In addition, this small and beautiful country offers many opportunities for business investment in markets such as energy, transportation, computers and information technology, agriculture, wine, food and beverage, construction, music, culture and tourism.
The country’s outlook is very favorable, a fact recognised in 2005 when the European Union delivered a large vote of confidence in Macedonia by granting it Candidate Status. US companies and institutions that have already recognized the value of Macedonia include Holiday Inn, Best Western, Ernst & Young, McCann Erickson, Avon Products, and the University of Pittsburg, which has established in Macedonia’s capital city Skopje a Graduate Centre for Public Policy and Management.
 Lake Prespa |
Location, location, location
The key reason for Macedonia’s “must consider” status is its geographic location.
There are four reasons for this:
- Macedonia is the keystone of a strategic land bridge that links the Adriatic and Black Seas. Europe calls this Land Bridge Transport Corridor VIII. Corridor VIII is an excellent transport alternative to the crowded Dardanelles and Bosporus.
- Macedonia is in the heart of the large and growing market of South-east Europe. Its immediate neighbours — Greece, Bulgaria, Albania, Serbia and Montenegro — comprise a market of 30 million people. The broader Southeast Europe market comprises a market of more than 140 million people, 200 million including nearby Italy.
- Macedonia is very well located with respect to the three major Mediterranean transshipment ports, Gioia Tauro, Taranto and Piraeus, which are visited by the giant containerships that travel between Asia and Europe, often making just one port call in the Mediterranean Sea to discharge and pick up containers. These port links provide Macedonia with exceptional access to world markets.
- Macedonia is at the junction of two key European Transport Corridors — Corridor VIII (East-West) and Corridor X (North-South) — making Macedonia an obvious choice as a centre for distribution in South-east Europe.
Agriculture
With an annual growth rate of 3.7%, and annual inflation of just 0.2%, production and distribution are not the only business opportunities available in Macedonia. Other promising business sectors include agriculture and viticulture. Large stateowned agricultural businesses are in the process of privatization, offering a favourable business climate to the already excellent growing climate and fertile soil. The climate also lends itself to winegrowing. Most wine is still exported in bulk, giving an excellent opportunity to establish added-value by exporting bottled wine.
Construction expertise
Macedonia is recognised for its skilled construction personnel and use of modern technology, especially in the area of civil engineering and hydroconstruction. For this reason, Macedonia has been a major supplier of construction labour, with small and large-scale projects in Central Europe, the Middle East and Russia. It has maintained access to the Russian market, even after the collapse of the Soviet Union. The country’s geographical location, seasonal climate, and historic and religious sites provide favourable conditions for the development of the tourism industry.
And finally...
Because of its location in the middle of a 140 to 200 million person market and its exceptional access to the services provided by the major transport companies that serve world markets, Macedonia qualifies as an obvious choice as a centre of production and distribution in South-east Europe. We think it is absolutely the best choice. Please visit. We will be very glad to see you.
Facts in brief
Macedonia’s location is Southeastern Europe, north of Greece. Landlocked; major transportation corridor from Western and Central Europe to Aegean Sea and Southern Europe to Western Europe
 Skopje Mosque taken from the old castle with part of the old castle wall |
Its climate is warm, dry summers and autumns; relatively cold winters with heavy snowfall
Natural resources include low-grade iron ore, copper, lead, zinc, chromite, manganese, nickel, tungsten, gold, silver, asbestos, gypsum, timber, arable land
Agricultural products are grapes, wine, tobacco, vegetables, milk, eggs
Industries include food processing, beverages, textiles, chemicals, steel, cement, energy, pharmaceuticals
Macedonia’s legal system is based on a civil law system; judicial review of legislative acts
Diplomatic representation in the US — Chief of mission: Ambassador Nikola Dimitrov
Diplomatic representation from the US — Chief of mission: Ambassador Gillian A Milovanovic
Contact Information
Dimitrija Cupovski
#2 Floor IV
Pelagonija Building
1000, Skopje
Macedonia
Tel: +389 2 3216 714
E-mail: contact.amcham@mt.net.mk
Website: www.amcham.com.mk
Useful websites
| skopje.usembassy.gov | US Embassy |
| www.buyusa.gov/macedonia | US Commercial Service |
| www.invest-in-macedonia.com | FDI information |
| www.finance.gov.mk | Ministry of Finance |
| www.balkanalysis.com | News, comment and analysis — commercial site, but good selection of free content |