The recent free trade agreement between Serbia and Egypt offers a significant opportunity for Serbian farmers, granting access to a market of over 106 million people. Minister of Internal and Foreign Trade Tomislav Momirović stated that the agreement will take effect immediately upon ratification by both Serbian and Egyptian parliaments.
For agricultural products, the agreement provides for either complete removal or reduction of customs rates. It covers 87% of agricultural goods, with 50% of these products benefiting from immediate duty removal.
Momirović highlighted that Serbian farmers currently export apples worth nearly 100 million euros annually. “We have secured a new market and I am confident that our farmers will seize this opportunity,” he said.
He noted that despite historical cultural differences between Serbia and Egypt, there are similarities in tastes, especially in confectionery products like wafers and chocolates, as well as in ajvar and jams. “This is not a gift but a significant opportunity,” Momirović emphasized.
The agreement is expected to create thousands of new jobs and increase prices for domestic farmers, particularly fruit growers. Momirović also pointed out that Serbia and Egypt can benefit mutually from this trade deal, with Serbia providing products Egypt lacks and importing citrus fruits, pineapples, mangoes, and other southern fruits at lower costs.
“The agreement represents a major advancement over our neighboring countries. We anticipate a trade increase with Egypt of 50 million euros next year, with a potential total trade exchange of around 300 million euros in a few years,” he added, noting that last year’s trade volume was 80 million euros but unstable.
In addition to agriculture, Momirović sees potential in the pharmaceutical, construction, and ceramics industries. “We have opened a significant market—one of the largest in the Arab world and one of Africa’s most developed economies,” he said.
He also advised farmers to modernize their practices and adapt to current trends to maximize revenue, stressing that old methods are no longer sufficient. “To achieve substantial profits, adaptation is essential,” Momirović concluded.
