Uzbekistan, Serbia Push For Free Trade Agreement To Deepen Trade Ties

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 8. Uzbekistan and Serbia are moving toward developing a free trade agreement aimed at increasing bilateral trade by expanding supplies of in-demand goods, as the two countries seek to deepen economic cooperation.

This was reflected in the statement by the press service of the Uzbek president, following talks between Uzbek President Shavkat Mirziyoyev and Serbian President Aleksandar Vučić in Belgrade, where the sides emphasized the need to increase mutual trade and create conditions for broader access to each other's markets.

The leaders highlighted the importance of developing and adopting a free trade agreement as part of efforts to expand trade between Uzbekistan and Serbia. They also stressed the need to establish cooperation in the field of standardization and organize reciprocal trade exhibitions.

The proposed agreement is expected to become part of the broader economic agenda between the two countries, alongside efforts to strengthen direct contacts between businesses and promote goods that are in demand in their respective markets.

“Particular attention was paid to increasing mutual trade, primarily through expanding supplies of goods in demand in the markets of the two countries,” the Uzbek presidential administration said.

The sides also emphasized the importance of cooperation in standardization, which was identified as another area requiring closer coordination as bilateral trade develops.

Reciprocal exhibitions were also highlighted as a practical tool for promoting products and strengthening business contacts between Uzbekistan and Serbia.

The trade discussions took place as the two countries seek to translate growing political relations into broader economic cooperation. Earlier during the visit, Uzbekistan and Serbia also discussed new joint projects in transportation and logistics, light and food industries, agriculture, pharmaceuticals, medicine and the digital economy.

The two sides have also identified industrial cooperation in areas including auto components, equipment, electrical engineering and electronics as having significant potential.

The development of a free trade agreement would add another dimension to these efforts, with the immediate focus placed on increasing mutual trade and expanding the range of goods supplied between the two countries.

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