Page 686 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/17/24, 5:14 PM UAE-Serbia Cepa Set To Add $351M To GDP
all of which are WTO members. This initiative comes in light of the significant potential to
increase non-oil trade between the two friendly countries, Dr. Al Zeyoudi said.

The minister said the agreement constitutes a vital bridge to the Balkans and Southeast

Europe with great economic potential, adding that it reflects the common ambition between
the UAE and Serbia and contributes to launching a new era of bilateral cooperation and

stimulating sustainable growth of the economies of both countries.

The minister pointed out that the UAE is Serbia's largest trading partner among the GCC
countries, accounting for 55 per cent of Serbia's trade with Gulf nations.“The UAE is currently

the third-largest market for Serbian exports in the Middle East and the fourth-largest trading
partner for Serbia among Arab countries and Africa, according to 2023 data.”

Dr. Al Zeyoudi added that FDI between the two countries have increased toward high-priority

sectors, including renewable energy, agriculture, food security, infrastructure and logistics
services.

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