Family-owned Italian chocolate maker Ferrero has agreed to buy 1,000 hectares of land from the Serbian Government to develop what it calls its "centre for hazelnut product" in Europe.
Serbia's Minister of Agriculture, Forestry and Water Management Dragan Glamocic signed a memorandum of understanding with representatives of Ferrero, Adruino Borgogno and William Fulci.
The deal, which is for an undisclosed fee, includes cooperation by Ferrero with individual agricultural producers in central and southern Serbia.
"This agreement memorandum will help Serbia become a European center of hazelnut production, create new agriculture jobs, and bring new technology to Serbia", said Glamocic, adding plantations could expand to 10,000 hectares in the next decade.
"Italy's government and institutions as well as Italian companies believe in Serbia", said Italian Foreign Affairs Secretary General Michele Valensise, who was in Belgrade for talks with Serbian lawmakers, and Italian Ambassador Giuseppe Manzo.
"The economic fabric of Italy is made up of dynamic companies who are looking abroad. I am glad to see this dynamism in the Ferrero group, which has shown intelligence and foresight by investing in Serbia," said Valensise.
© 2014 - European Supermarket Magazine by Enda Dowling
