Egypt, Serbia negotiate for free trade agreement

CAIRO - 26 July 2023: Egypt and Serbia are negotiating a project to study the establishment of a free trade agreement between the two countries, which was announced in 2022 during President Abdel Fattah El-Sisi's visit to Serbia, according to a statement issued by the Ministry of Trade and Industry, Wednesday.

 

"The conclusion of this agreement will contribute to increasing the rates of trade exchange and joint investments between the two countries in the coming period," Minister of Trade and Industry, Ahmed Samir, said.

 

The volume of trade exchange between the two countries rose to $113.59 million in 2022, compared to about $79.74 million in 2021.

 

The most important items of trade exchange between the two countries include fertilizers, phosphates, vegetables, fruits, plastics, tobacco, machinery, and electrical appliances.

 

"We are keen on enhancing frameworks for joint economic cooperation with Egypt as one of the key countries in the Middle East and Africa," Serbian Minister of Internal and External Trade, Tomislav Momic, said.

 

He added that the current period witnesses an unprecedented momentum in terms of official visits of Serbian officials to Cairo, reflecting the Serbian government's interest in deepening bilateral relations with Egypt.

 

The Serbian minister called on Egyptian companies to participate in the projects currently implemented by Serbia in the field of developing the country's infrastructure, which aims to facilitate the logistics transport system between Serbia and the main ports of neighboring countries.