UAE-Serbia CEPA officially comes into force
A new era of bilateral economic cooperation
Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, expressed his enthusiasm regarding the CEPA's implementation, stating:
'The activation of the UAE-Serbia CEPA heralds a new chapter in our economic relations, creating new avenues for collaboration, investment, and trade that will benefit both our nations."
He emphasised the agreement's potential to create jobs, strengthen supply chains, and provide a thriving environment for businesses.
Boosting non-oil trade and market access
The UAE-Serbia CEPA aims to boost bilateral non-oil trade, which reached approximately US$121.4 million in 2024, double the volume of 2021. The agreement is expected to contribute US$351 million to UAE GDP by 2031. This is to be achieved by eliminating or reducing customs duties for over 96% of tariff lines, thereby enhancing market access.
Serbia: A strategic gateway to Europe
Serbia's strategic location and diversified economy make it a key partner for the UAE. The CEPA will enable increased trade and investments in critical sectors such as renewable energy, agriculture, logistics, and technology. With the UAE already accounting for 55% of Serbia's total trade with the GCC in 2023, the agreement is poised to deepen economic engagement.
Driving UAE's global trade ambitions
This agreement aligns with the UAE's broader CEPA strategy, which is central to its goal of increasing total non-oil trade to US$1.1 trillion and doubling the size of its economy to US$800 billion by 2031.
A growing CEPA network
The UAE-Serbia CEPA is the 10th agreement to officially come into force. In total, 27 CEPAs have been concluded with countries across the Middle East, Africa, Southeast Asia, South America, and Europe, reflecting the UAE's ongoing efforts to position itself as a global trade hub.
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