With the aim of increasing mutual trade and investment flows

UAE, Serbia launch talks to reach comprehensive economic partnership agreement

During the first round of talks that kicked off in Dubai. From the source

The UAE and Serbia have launched talks aimed at reaching a comprehensive economic partnership agreement between the two countries to enhance constructive cooperation, increase mutual flows of trade and investments, and create a platform for building fruitful partnerships between the business communities and the private sector in both countries.

According to the Ministry of Economy, the first round of talks began in Dubai with the participation of the Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, the UAE negotiating team, the Minister of Internal and External Trade of Serbia, Tomislav Momerovic, and the accompanying delegation of the talks that is currently visiting the country.

The Comprehensive Economic Partnership Agreement between the UAE and Serbia, once the talks are successfully concluded and concluded, aims to contribute to increasing non-oil trade flows between the two countries, which recorded $ 57.6 million in the first half of this year, more than double the figure achieved in the whole of 2020.

It also aims to facilitate the flow of investments between the two countries, which are distributed over a number of vital sectors, including agriculture, food security, real estate and infrastructure.

Al Zeyoudi stressed that the UAE continues to expand the base of its trading partners around the world, based on its belief that trade is one of the most important catalysts for economic growth, pointing out that ensuring the flow of trade and investments between the worlds contributes to achieving sustainable development.

He said that the launch of the talks of the Comprehensive Economic Partnership Agreement between the UAE and Serbia is an important milestone in the growing friendly relations between the two countries, and opens wide areas for the business communities on both sides, to build long-term partnerships, and explore the trade and investment opportunities that this agreement will provide, as the UAE can be Serbia's gateway to the Gulf, Arab and regional markets, and similarly Serbia can form a gateway for the UAE towards the markets of the Balkans and Eastern Europe.

For his part, Momerović stressed that the economic relations between Serbia and the UAE are based on a solid base of good political relations, as the two countries continue their constructive cooperation to increase trade exchange, investment projects, as well as through strategic partnerships between the two sides, which has been translated on the ground into important projects such as the Belgrade on Water project, and the investments of major UAE companies such as Al Dahra and DP World, which develop the port of Novi Sad and others.