Serbian PM calls trade deal a ‘new page' in Egypt ties
Serbian Prime Minister Guro Macut has described a new free trade agreement with Egypt as a 'new page' in bilateral relations, stating that both countries are working to implement its terms to boost trade and investment.
Speaking at the Egyptian-Serbian Business Forum in Egypt's New Administrative Capital, Macut said the agreement aims to 'achieve the optimal exploitation of possible opportunities to increase trade exchange and push investments' for the economic growth of both nations.
He said the efforts to enhance bilateral cooperation have become tangible thanks to the support of Egyptian President Abdel Fattah Al-Sisi and Serbian President Aleksandar Vučić, which paves the way for stronger ties.
Macut highlighted the long-standing ties between the two nations, which he noted were founding members of the Non-Aligned Movement and are celebrating 117 years of diplomatic relations. He said the strategic partnership was established during Sisi's 2022 visit to Belgrade and reaffirmed when the draft free trade deal was signed during Vučić's visit to Cairo in July 2024.
While noting that economic exchange currently stands at approximately $122m, the prime minister asserted that there is potential to increase it significantly. He added that around 40 Egyptian-owned companies operate in Serbia and that joint manufacturing projects have already begun in the Egyptian market.
He presented Serbia as an economically stable and safe investment destination, citing its strategic geographical location, government support, skilled workforce, and attractiveness for the software industry. Macut also mentioned Serbia's efforts to advance the 'Open Balkan' initiative to create a common market for the free movement of goods in the Western Balkans.
Macut extended a specific invitation for Egyptian participation in the Belgrade Expo 2027, encouraging a large number of investors to attend to explore cooperation opportunities and create a platform to enhance trade. He also expressed hope that Serbian companies and products would find their place in the Egyptian market.
'We look forward to a new partnership and more cooperation,' he concluded.
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