Strengthening Economic Ties between UAE and Serbia

 


The UAE and Serbia recently signed an important trade agreement called the Comprehensive Economic Partnership Agreement or CEPA. This was aimed at boosting commercial cooperation between the two nations. 


Recent figures indicate bilateral trade has grown substantially. Total trade volumes reached around $195 million in 2023 according to Serbian officials. Both exports and imports have increased year-on-year.


The new CEPA intends to provide further stimulation by reducing barriers and supporting more investments across sectors. Priority industries identified include electronics, food processing, infrastructure, logistics and information technology. 


Knowledge sharing and capacity building initiatives will also be part of the accord. Representatives of major UAE companies took part in a forum in Belgrade to explore business opportunities. 


Serbia's economy minister stated the CEPA will help accelerate growth. Some of the key targets are strengthening supply chains and diversifying markets beyond Europe. 


The strong economic partnership reflects the desire of both countries to expand relations on a mutually beneficial basis Total trade volumes are projected to increase substantially in the coming years through implementation of the CEPA framework.


Deepening commercial collaboration will aid sustainable growth strategy priorities in Serbia and the UAE vision of being a global business hub The agreement thus opens up possibilities across many areas.

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