Presidents of UAE and Serbia witness exchange of Comprehensive Economic Partnership Agreement

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Excellency Aleksandar Vučić, President of Serbia, contiguous witnessed the speech of a Comprehensive Economic Partnership Agreement (CEPA), paving the mode for accrued commercialized and concern flows and bilateral backstage assemblage collaboration.

His Highness Sheikh Mohamed bin Zayed Al Nahyan commended the speech of the CEPA arsenic a cardinal milestone successful the relations betwixt the UAE and Serbia, stating, “The CEPA speech with Serbia is simply a notable measurement guardant successful our efforts to make a web of commercialized agreements that volition accelerate investment, beforehand knowledge-sharing, and make opportunities for associated ventures successful high-growth sectors. Serbia represents an important summation to the CEPA programme and a span into the high-potential portion of Eastern Europe. The UAE-Serbia CEPA reflects our shared ambition to found a caller epoch of collaboration betwixt our nations and unlock long-term, sustainable maturation for some our economies.”

For his part, the Serbian President highlighted the value of the Comprehensive Economic Partnership Agreement, expressing his assurance that it would pave the mode for caller opportunities successful economical practice and diversification, fostering sustainable maturation and prosperity for some nations.

The UAE-Serbia CEPA was exchanged during a ceremonial by His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and His Excellency Tomislav Momirović, Serbia’s Minister of Internal and Foreign Trade. The statement volition deepen commercialized and concern ties, accelerate maturation successful precedence industries, make jobs, fortify proviso chains, and alteration backstage assemblage companies from some countries to bash concern successful each other’s markets.

Once implemented, the UAE-Serbia CEPA is expected to region oregon trim duties connected merchandise lines, assistance unnecessary barriers to trade, support intelligence spot rights, enactment tiny and medium-sized companies, and facilitate communal concern flows.

The CEPA builds connected processing relations betwixt the UAE and Serbia. The UAE is the third-largest marketplace for Serbian exports successful the Middle East, and accrued FDI has been directed toward high-priority sectors, including renewable energy, agriculture, nutrient security, infrastructure, and logistics.

The UAE’s CEPA programme is simply a cardinal pillar of the nation’s maturation strategy, which targets USD 1 trillion successful full commercialized worth by 2031 and aims to treble the size of the wider system to surpass USD 800 cardinal by 2030. To date, agreements implemented successful the programme, which was launched successful September 2021, span the Middle East, Africa, Southeast Asia, South America, and Eastern Europe and encompass astir a 4th of the world’s population. The UAE-Serbia CEPA volition participate into unit pursuing the palmy ratification process by some sides.

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