Impact of the German Supply Chain Act on Companies in Serbia

TSG Lawyers Belgrade, member of the ESG Working Group at the German Serbian Chamber of Commerce (AHK Serbia), co-hosted a panel discussion on the implications of the German Supply Chain Act (LkSG) for businesses in Serbia.

PANEL Discussion Highlights

Ljubica Tomic’s Insights:

Our Managing Partner, Ms. Ljubica Tomic, Board member of the German Serbian Chamber of Commerce, emphasized critical elements of the LkSG and its relevance for companies operating in Serbia. She introduced the first Serbian translation of the LkSG, prepared by TSG Lawyers Belgrade, to assist Serbian firms in understanding their obligations when engaging with German partners.

German Perspective by Dr. Georg Jaster:

Dr. Georg Jaster, Senior Partner at Tigges Düsseldorf, offered insights on the implementation of the law from a German perspective. He outlined the obligations for German companies and addressed the challenges they encounter when collaborating with partners from non-EU countries. He drew attention to the fact that certain aspects of the LkSG are open to interpretation, which has resulted in ongoing practical uncertainties.

Business Practices and Support:

Business leaders, including Mr. Ivan Smiljkovic, Board Member at the German Serbian Chamber of Commerce and Executive Board Member at ProCredit Bank a.d Belgrade, and Mr. Simon Franko, Managing Director of BASF Serbia, Slovenia, and Croatia shared insights on how Serbian companies are aligning with LkSG requirements. Ms. Tanja Lindell, Manager of the Responsible Business Hub at the Chamber of Commerce and Industry of Serbia outlined her organisation’s role in assisting Serbian businesses to enhance their capabilities in meeting LkSG and ESG standards, ultimately improving their market prospects.

This collaborative effort aims to ensure that Serbian companies are well-equipped to navigate the complexities introduced by the LkSG, fostering responsible business practices and compliance with international standards.

Feel free to access the first Serbian translation of the "German Supply Chain Due Diligence Act" by clicking on the following link.

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