Serbia is poised to enter a new era of trade as its free trade agreement with China is set to take effect on July 1. This landmark agreement promises to exempt 10,412 Serbian products from customs duties, marking a significant step forward for Serbian producers. Looking ahead, Serbia is also in the process of preparing two additional free trade agreements, one with Egypt and another with the United Arab Emirates (UAE).
The question arises: What types of products could Serbia successfully market in Egypt and the UAE?
According to experts interviewed by Euronews Serbia, Serbia has a well-established foreign trade network, and securing more free trade agreements opens up even greater opportunities for Serbian companies. Bojan Stanić from the Serbian Chamber of Commerce highlights the potential of agricultural and food products for the Egyptian market, with possibilities for expanding into processed goods such as metals and chemicals.
Stanić further suggests that the UAE market could initially favor Serbian food products due to their competitiveness. He envisions a gradual expansion to include metal, chemical, and eventually IT solutions.
Meanwhile, negotiations for a free trade agreement with South Korea are also underway, signaling Serbia’s commitment to expanding its global trade footprint.
Economist Aleksandar Stevanović emphasizes the importance of marketing high-value products to Egypt, including agricultural goods with added value, construction materials, and mining products. He also sees potential for Serbian agriculture in the UAE market, provided there are efficient delivery mechanisms in place.
Stanić underscores the opportunities presented by the Free Trade Agreement with China, particularly in the export of fruits like blueberries. He envisions a range of agricultural and beverage products gaining traction in the Chinese market.
Looking at the bigger picture, Stevanović believes that more free trade agreements translate to more opportunities for Serbian companies, benefiting both producers and consumers domestically. He advocates for a broader vision of free trade, noting its potential to foster economic growth and sectoral development.
As Serbia continues to negotiate free trade agreements with Egypt, the UAE and South Korea, it builds upon existing agreements with key partners such as the EU, CEFTA, EFTA, the Eurasian Economic Union, Turkey, and others. These agreements not only facilitate the export of Serbian goods but also pave the way for broader economic integration on the global stage.
