UAE and Serbia seal economic partnership as President Sheikh Mohamed visits Belgrade

The UAE President witnessed the exchange of a Comprehensive Economic Partnership Agreement

President Sheikh Mohamed with Serbian President Aleksandar Vucic at the Vila Mir gardens, in Belgrade. Photo: Rashed Al Mansoori / UAE Presidential Court

Sheikh Mohamed and Mr Vucic held talks, as part of the President's working visit to Serbia. Photo: Rashed Al Mansoori / UAE Presidential Court

Sheikh Mohamed and Mr Vucic discussed ways to expand co-operation between the two countries. Photo: Rashed Al Mansoori / UAE Presidential Court

President Vucic said Sheikh Mohamed's visit would advance ties and support shared ambitions. Photo: Abdulla Al Neyadi / UAE Presidential Court

Sheikh Hamdan bin Mohamed, Deputy Chairman of the Presidential Court for Special Affairs, and Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, in Belgrade. Photo: Rashed Al Mansoori / UAE Presidential Court

Members of the Serbian delegation attend a meeting between the leaders. Photo: Abdulla Al Neyadi / UAE Presidential Court

Sheikh Hazza bin Zayed, Deputy Ruler of Abu Dhabi, Sheikh Hamdan bin Mohamed, Deputy Chairman of the Presidential Court for Special Affairs, and Sheikh Mohammed bin Hamad, Adviser for Special Affairs at the Presidential Court, also accompanied President Sheikh Mohamed. Photo: Rashed Al Mansoori / UAE Presidential Court

President Sheikh Mohamed is received at the airport in Belgrade by Serbian President Aleksandar Vucic. Photo: Rashed Al Mansoori / UAE Presidential Court

Sheikh Mohamed previously met Mr Vucic in the Serbian capital in June, 2023. Photo: Rashed Al Mansoori / UAE Presidential Court

Sheikh Hazza bin Zayed, Deputy Ruler of Abu Dhabi, greets Mr Vucic. Photo: Rashed Al Mansoori / UAE Presidential Court

Sheikh Hamdan bin Mohamed, Deputy Chairman of the Presidential Court for Special Affairs, greets Mr Vucic. Photo: Rashed Al Mansoori / UAE Presidential Court

President Sheikh Mohamed, his delegation and Serbian officials depart from the international airport in Belgrade. Photo: Hamad Al Kaabi / UAE Presidential Court

President Sheikh Mohamed held high-level talks with Serbian President Aleksandar Vucic in Belgrade on Saturday, during a one-day working visit to the country in which the two leaders oversaw the exchange of a Comprehensive Economic Partnership Agreement (Cepa).

The agreement paves the way for increased trade and investment flows and bilateral private sector collaboration between the two countries, state news agency Wam reported.

Sheikh Mohamed commended the exchange of the Cepa as a milestone in the relations between the UAE and Serbia. “The Cepa exchange with Serbia is a notable step forward in our efforts to create a network of trade agreements that will accelerate investment, promote knowledge-sharing, and create opportunities for joint ventures in high-growth sectors," he said.

"Serbia represents an important addition to the Cepa programme and a bridge into the high-potential region of Eastern Europe. The UAE-Serbia Cepa reflects our shared ambition to establish a new era of collaboration between our nations and unlock long-term, sustainable growth for both our economies.”

During their meetings, the leaders explored ways to expand co-operation as part of a strategic partnership in place between the nations and reviewed progress already made to bolster links in key sectors such as investment, economy, and trade, as well as technology, food security and renewable energy.

President Vucic said Sheikh Mohamed's visit would advance ties and support shared ambitions for their countries.

Discussions also touched on a number of regional and international issues, with both men stressing the importance of finding peaceful solutions to crises affecting many parts of the world.

Sheikh Mohamed said the UAE believes that co-operation and dialogue are crucial to resolving disputes through peaceful means. He emphasised that the Emirates is a strong supporter of peace and stability in the Balkans and places great importance on its relations with the region’s countries, especially Serbia.

Sheikh Mohamed was greeted on arrival at Belgrade Nikola Tesla Airport by Mr Vucic, who also accompanied his guest to the airport for his departure.

The President's delegation included Sheikh Hazza bin Zayed, Deputy Ruler of Abu Dhabi; Sheikh Hamdan bin Mohamed, Deputy Chairman of the Presidential Court for Special Affairs; Sheikh Mohammed bin Hamad, Adviser for Special Affairs at the Presidential Court; Dr Sultan Al Jaber, Minister of Industry and Advanced Technology; Dr Thani Al Zeyoudi, Minister of State for Foreign Trade; Ahmed Al Menhali, UAE ambassador to Serbia and other senior officials.

Dr Al Zeyoudi said that the Cepa between the UAE and Serbia marks the first agreement under the UAE's Cepa programme with a country that is not a member of the World Trade Organisation.

He told Wam that the agreement features a tariff reduction and elimination of up to 96 per cent across customs tariff lines, compared to some countries with which agreements have been signed, all of which are WTO members. This initiative comes in light of the significant potential to increase non-oil trade between the two friendly countries, he said.

In September, 2023, the countries began negotiations for a Cepa to strengthen bilateral trade and investment flows.

In the first half of 2023, bilateral non-oil trade reached $57.6 million, surpassing the total recorded for the whole of 2020, the ministry said.

Sheikh Mohamed previously met Mr Vucic in the Serbian capital in June last year for talks on efforts to boost security in the Balkans.

The visit to Belgrade comes after Sheikh Mohamed travelled to Egypt on Thursday on another working visit, in which he held talks with President Abdel Fattah El Sisi and witnessed the signing of agreements between the long-standing allies.