The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Serbia is projected to inject $351 million into the UAE’s GDP, according to Dr. Thani Bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade.

Announced during a recent event, this landmark agreement highlights the UAE’s growing trade relations with non-World Trade Organization (WTO) member nations, marking a new chapter in UAE-Serbia trade. CEPA is expected to reduce or eliminate tariffs on 96% of goods traded between the two countries, enhancing non-oil trade and investment opportunities.

The UAE-Serbia CEPA is expected to boost the UAE’s GDP by $351 million, strengthening trade and investment ties between the two nations. For businesses looking to capitalize on these expanding opportunities, seeking expert advice on business setup in Dubai can help ensure smooth entry and growth in the UAE’s dynamic market.

This UAE-Serbia CEPA is part of a broader strategy aimed at diversifying the UAE economy and enhancing trade relations beyond traditional WTO members.

In the past, similar agreements have had significant economic impacts, such as the UAE-India CEPA, which saw a substantial increase in bilateral trade and mutual investments. With this latest agreement, the UAE aims to position itself as a strategic gateway to the Balkans and Southeast Europe, leveraging Serbia’s economic potential in sectors like manufacturing, logistics, and food security.

Industry experts believe that the UAE-Serbia CEPA will create new opportunities for both countries, particularly in the areas of private-sector partnerships, knowledge exchange, and joint developmental projects.

The agreement is seen as a catalyst for sustainable growth, especially in logistics and manufacturing. Serbia’s growing manufacturing sector, combined with the UAE’s strategic location and investment capabilities, could unlock new avenues for trade and collaboration.