Uzbekistan, Serbia to Begin Free Trade Agreement Talks

Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan and Serbia will begin preparations for a free trade agreement by establishing a dedicated working group, following the first meeting of the Uzbek-Serbian Intergovernmental Commission on Economic Cooperation held in Belgrade on 7 September.

The meeting was co-chaired by Uzbekistan’s Minister of Investment, Industry and Trade Laziz Kudratov and Serbia’s Minister for International Economic Relations Nenad Popovic.

The Ministry of Investment, Industry and Trade said the current level of bilateral trade does not yet reflect the economic potential of the two countries. The establishment of the working group is viewed as the first practical step toward preparing a free trade agreement that would create more favorable conditions for trade in goods and services between Uzbekistan and Serbia.

Cooperation is also expected to expand beyond trade through joint production and localization. There are currently 10 enterprises with Serbian capital operating in Uzbekistan.

Promising areas include the production of components and pharmaceuticals, textile manufacturing, seed production, horticulture and dairy processing.

The sides also discussed technological cooperation, including opportunities in critical minerals, digital geology, artificial intelligence and export-oriented IT projects.

In transport and logistics, the parties discussed introducing electronic exchanges of permits for freight transportation and advance customs information. The mechanism is expected to reduce paperwork.

The sides also considered Uzbekistan’s potential participation in the modernization of Serbia’s railway infrastructure. In particular, they discussed construction of a railway section of about 200 kilometers. Other parameters of the potential project, including the investment amount, have not yet been disclosed.

A Uzbek-Serbian Business Council has been established to strengthen direct contacts between businesses from the two countries.

The sides plan to hold joint business events and use international exhibitions to promote products and present investment projects.

One of the key platforms will be EXPO 2027, which is scheduled to take place in Belgrade.

The commission also supported the development of interregional ties between Tashkent and Belgrade, Samarkand and Novi Sad, as well as Samarkand Region and the autonomous province of Vojvodina.

The second meeting of the Uzbek-Serbian Intergovernmental Commission on Economic Cooperation is scheduled to be held in Uzbekistan in 2027.

The Ministry of Investment, Industry and Trade emphasized that the first-ever visit by an Uzbek president to Serbia should mark the beginning of a new stage in cooperation between the two countries.