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The UAE-Serbia CEPA aims to boost bilateral non-oil trade, which reached approximately US$121.4
million in 2024, double the level of trade when compared to 2021, with projections indicating a
substantial increase in bilateral trade that will contribute US$351 million to UAE GDP by 2031. This
growth is anticipated through the elimination and reduction of custom duties for over 96% of tariff
lines, thereby enhancing market access and fostering a more conducive environment for private
sector collaboration.

Serbia is an important partner for the UAE, with its diverse economy and strategic location providing
a vital gateway into Eastern Europe and the Balkans. The CEPA is expected to not only enhance
trade but also increase private sector collaboration and promote investments in priority sectors
such as renewable energy, agriculture, logistics, and technology.

The UAE is Serbia’s leading trading partner in the GCC, accounting for approximately 55% of its total
trade with the region in 2023. The bilateral relationship has been further strengthened by increasing
flows of FDI, which has been directed towards high-growth sectors, enhancing shared economic
interests. With the CEPA now ratified and officially in force, both nations can leverage the
agreement to foster economic growth and create opportunities that will benefit their citizens.

The CEPA programme is a cornerstone of the UAE's strategic growth objectives, aiming to increase
total non-oil trade to US$1.1 trillion by 2031 and doubling the size of the economy to US$800 billion
by 2031.

The UAE-Serbia CEPA is the 10th to come into force, with 27 in total having been concluded so far
with countries spanning the Middle East, Africa, Southeast Asia, South America and Europe.

https://www.wam.ae/en/article/bjy9okb-uae-serbia-comprehensive-economic-partnership