Investments in science pillar of economic development

BELGRADE - Serbian Deputy Prime Minister Rasim Ljajic, who is also minister of trade, tourism and telecommunications, opened on Monday in Belgrade the International Fair of Technique and Technical Achievements, held under the slogan A step into the future.

Investments in science, knowledge and research work should be the pillar of Serbia's economic development, Ljajic said at the opening ceremony.

Many researches and surveys conducted in the country show that Serbia has great, but untapped potential in all fields, he said.

That is a consequence of a system of education that has no correlation to the economy and the market, of weak links between science and business, and insufficient investments in science, research and development, Ljajic said.

Serbia invests the equivalent of 0.3 percent of its GDP in science, research and development, while the European average is much higher, which means that the country will face another wave of "brain drain" if nothing changes, Ljajic warned.

Serbia already has around 5,000 holders of doctoral degrees abroad and just as many young researchers who have left the country, Ljajic said.

A development strategy for this field envisions 0.15 percent of the state budget to be earmarked annually for science, which has never come to fruition, said Aleksandar Belic, state secretary at the Ministry of Education, Science and Technological Development.

The opening ceremony was also attended by Republika Srpska Prime Minister Zeljka Cvijanovic.

The fair brings together more than 500 Serbian and foreign exhibitors from 17 countries.

Visitors will be able to see around 100 novelties and two national exhibitions, representing the Czech Republic and...