Page 867 - MOET ENGLISH PR REPORT - JUNE 2025

6/10/25, 11:41 AM UAE-Serbia CEPA officially comes into force
The UAE-Serbia CEPA aims to boost bilateral non-oil trade, which reached approximately
$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 $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 $1.1 trillion by 2031 and doubling the size of the economy to $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.

In October 2024, Dr Thani Bin Ahmed Al Zeyoudi affirmed that the Comprehensive Economic
Partnership Agreement (CEPA) between the UAE and the Republic of Serbia marks the first

agreement under the UAE’s comprehensive economic partnership programme with a country
that is not a member of the World Trade Organisation.

This agreement features a tariff reduction and elimination of up to 96 per cent across customs
tariff lines, compared to some countries with which agreements have been signed, 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 told the Emirates News Agency (WAM)
following the exchange of the CEPA between the two countries. Dr Al Zeyoudi said the

agreement constitutes a vital bridge to the Balkans and the 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.

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