The first Emirates Gulf in trade exchange with Serbia

The United Arab Emirates and the Republic of Serbia announced the entry of the comprehensive economic partnership agreement between the two countries officially in effect in a move that represents a prominent station in the path of strengthening bilateral economic and trade relations, and preparing the foundations for deepening joint cooperation in various priority sectors.

The UAE ranks first among the countries of the Gulf Cooperation Council in the volume of trade exchange with Serbia, as it acquired about 55% of its total trade with the GCC countries in 2023. The economic relations between the two countries have witnessed a remarkable development during the past years, driven by foreign direct investment flows, especially in sectors of high growth, which contributed to promoting common economic interests. With the comprehensive economic partnership agreement entered into force officially, the two countries can benefit from their advantages in advancing economic growth, and opening new horizons for sustainable development in a way that benefits the two sides.

The Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al -Zyoudi, stressed that “activating the agreement represents a strategic development in economic relations between the two sides,” adding: “The entry of the comprehensive economic partnership agreement between the UAE and Serbia into effect is a new stage in our economic relations, and opens wide horizons for cooperation, investment and trade in a way that benefits the two countries. Through this agreement, we confirm our commitment to creating qualitative opportunities that enhance supply chains, generate jobs, and create a prosperous environment for business in both countries.

The agreement aims to strengthen non -oil trade between the UAE and Serbia, which recorded about 121.4 million US dollars in 2024, an increase of weakness, compared to 2021. It is estimated that the agreement will contribute up to 351 million dollars in the GDP of the UAE by 2031. It is expected to achieve this growth by canceling customs duties or reducing them over the most From 96% of the product lines, which enhances the opportunities for access to the markets, and provides a more attractive environment for cooperation between private sector institutions in the two countries.

Serbia is an important economic partner for the UAE, thanks to the diversity of its economy and strategic location, which is a vital gateway to Eastern Europe and the Balkan region. The agreement is expected to contribute to promoting trade exchange and encouraging investments in vital sectors that include renewable energy, agriculture, logistics, and technology.

The comprehensive economic partnership agreements are a basic pillar in the UAE’s vision of strategic economic growth, aiming to raise the value of non -oil trade to $ 1.1 trillion by 2031, and double the size of the national economy to reach 800 billion US dollars by 2030.