How will Uzbekistan build its friendship with Serbia?

How is Uzbekistan building a friendship with Serbia?

According to the press service of the Ministry of Investment, Industry and Trade, Uzbekistan and Serbia plan to raise economic cooperation to a new level — moving from trade in goods to the creation of joint ventures and technological projects. At the first meeting of the Uzbek-Serbian Intergovernmental Commission on Economic Cooperation, the parties discussed the expansion of mutual trade and emphasized that its current volumes do not yet correspond to the potential of both economies.

One of the main steps should be the start of negotiations on a free trade agreement. A Joint Declaration on the establishment of a working group to prepare for such negotiations has already been prepared for signing. It is expected that the agreement will create more favorable conditions for mutual supplies of goods and services and will serve as an additional incentive for trade growth.

At the same time, they intend to develop cooperation not only by increasing exports and imports. Uzbekistan and Serbia are focusing on joint production and localization. Currently, ten enterprises with Serbian capital operate in Uzbekistan.

Among the promising areas mentioned are the production of components and medicines, the textile industry, seed production, horticulture, and milk processing. A separate block of negotiations was dedicated to technological cooperation — critical minerals, digital geology, artificial intelligence, 5G networks, and export-oriented IT projects.

The parties also intend to simplify the transportation of goods. To this end, it is proposed to introduce the electronic exchange of permits and preliminary customs information, which should reduce paperwork and facilitate the passage of goods across the border.

Another area of cooperation could be Serbia's railway infrastructure. The negotiations discussed the possibility of the Uzbek side's participation in the modernization of the Serbian railway network, including the construction of a section approximately 200 km long.

Specific projects will be promoted by the newly established Uzbek-Serbian Business Council. It is intended to become a platform for finding investors and partners, presenting products and investment proposals, as well as preparing new sectoral projects.

Additional opportunities for business contacts will be provided by EXPO 2027 in Belgrade. The international exhibition is seen as one of the platforms for promoting the products of both countries, finding new partners, and presenting investment projects.