The United Arab Emirates hold an important position in the global economy, especially in view of investments, because this country, although small, disposes with a rich monetary fund. Serbia and the UAE have signed an inter-state agreement, and the planned ventures and investments are most that has been achieved so far in bilateral agreements with any country.
Serbia’s Deputy Prime Minister Aleksandar Vucic and Sheikh Abdullah bin Zayed signed several agreements in Abu Dhabi, including the one on the inter-state cooperation. Also signed were documents on the mutual incentives and protection of investments; cooperation in the field of defense; and setting up the strategic partnership. Vucic has announced that the first concrete job will be realized soon. Namely, the Jugoimport will sign a contract with the Earth Company, in the defense industry. For the purpose of developing a sophisticated rocket system ALAS, the UAE will invest 33 million dollars in the first phase, and working on the project will be the Serbian companies Krusik, Teleoptik and Utva. In four years the investments should reach the amount of 220 million dollars, while one of those Serbian rockets will cost 100 thousand. Bin Zayed has shown interest for the Serbian missile system “Bumblebee”, expected to be distributed in the market of the Emirates, but all over the world too.
The agreement of the two countries also envisages the program of investments in modern irrigation systems, to cover one million hectares of the arable land in Serbia, while at the moment this system spans over 100 thousand hectares. The cleaning of the existing canals and construction of the new network require 1.25 billion euros, out of which the first phase should be financed with 300 million. The UAE will provide the money and Serbia will pay off the debt through long-term guaranteed shipments of various agricultural products, such as wheat, corn, meat, dairy and finished food products.
Serbian Minister of Finance Mladjan Dinkic has stated that the contract with the agrarian company Al Dahra will be signed this spring. It is one of the biggest companies in that field, with the annual circulation of 800 million euros, operating in almost every continent, including Europe. Therefore, it would be good for Serbia to realize the project of cooperation as soon as possible.
The sheiks are also interested to invest in high technologies. The Mubadala company, being world’s second ranked in that domain, and mostly involved in making chips, wishes to invest the total of four billion dollars in Serbia in the future. This company has already found a location in the vicinity of Belgrade for to build the factory, and the jobs are being opened for Serbian experts in casting silicone. It is expected that in the forthcoming period, due to the signed agreements, many private enterprises will also show interest in partnership with Serbia.
Source Balkanns
