About 500 domestic companies cooperate directly with investors in technological-industrial development zones. The total value of procurements by companies operating in the zones from domestic companies amounts to about EUR 50 million per year, but the potential for cooperation is not fully utilized, said Finance Minister Kiril Minoski on Thursday.

Minoski took part at "Macedonia Manufacturing Expo" for networking of companies from the metal processing industry with foreign suppliers and stimulating cooperation of domestic and foreign companies.

According to him, foreign companies should cooperate with domestic counterparts in order to transfer experiences for upgrading their manufacturing capacities, production, introduction of new technologies and human resource development.

"When Macedonian companies become part of the supply chain of global companies, they will also get access to the global market of suppliers of multinational companies", added Minoski.

United States Ambassador Jess Baily said the networking of small companies with large manufacturers would stimulate economic growth and employment, adding that several Macedonian companies have already signed long-term cooperation agreements.

"The United States has supported the development of light industry in Macedonia for a decade now. For example, the USAID Small Business Expansion Project creates a database for products of over 200 Macedonian companies in the sector. This information sharing is an important resource for economic promoters who work towards attracting foreign investors", stressed Baily.

Swiss Ambassador Sybille Suter Tejada said there is potential among Macedonian companies to become suppliers for foreign companies, but they require support.

She added that Switzerland has supported the industry for 13 years, resulting in the cooperation with 30 companies that have taken part at fairs and export to the EU and Switzerland.

Dutch Ambassador Wouter Plomp said foreign investments in Macedonia and other Western Balkan countries are the main generators of development. He expressed belief that Macedonia should catch other regional countries regarding the volume of such investments, with political and economic stability, along with the December elections of great importance in this regard.

The conference is organized by the USAID Small Business Expansion Project, co-funded by the Government of Switzerland, the Macedonian Association of Metal and Electrical Industry (MAMEI) and the Agency for Foreign Investments and Export Promotion, supported by the Skopje Office of the Union of German Chambers of Industry and Trade, the American Chamber of Commerce in Macedonia, the Netherlands Embassy and the Directorate for Technological-Industrial Development Zones.