Egypt’s Minister of Trade and Industry Ahmed Samir received Serbian Minister of Domestic and Foreign Trade Tomislav Momirovic and his accompanying delegation. The meeting reviewed ways to develop commercial, industrial and investment cooperation relations between the two countries, developments in the global economic situation.
Samir added that negotiations are currently being held at the level of experts to conclude a free trade agreement between the two countries, which was announced last year during President Abdel Fattah El-Sisi’s visit to Serbia.
He noted that reaching this agreement will contribute to increasing trade exchange rate and joint investments between the two countries during the coming period.
Samir explained that the meeting discussed the possibilities of forming a working group from both sides to study potentials and needs of Egyptian and Serbian markets, in addition, work to provide these needs through equal trade deals.
The minister highlighted the importance of activating joint efforts between the two countries at the official and private levels to achieve food and drug integration between Egypt and Serbia, especially in light of negative repercussions of successive global crises on the global economy.
There are great potentials in establishing joint Egyptian-Serbian projects in a large number of fields in order to meet market needs and export to regional markets, especially African markets within the framework of the African Continental Free Trade Agreemen, according to the minister.
Samir pointed out that the volume of trade exchange between the two countries amounted to $113.59m last year, compared to approximately $79.74m in 2021, an increase of 42.5%. The most important products of trade exchange between the two countries include fertilizers, phosphates, vegetables, fruits, plastics, tobacco, machinery and electrical appliances.
Serbian Minister of Domestic and Foreign Trade Tomislav Momirovic affirmed his country’s keenness to strengthen joint economic cooperation with Egypt as it is one of pivotal countries in the Middle East and Africa.
Momirovic stated that the current period is witnessing an unprecedented momentum with regard to official visits of Serbian state officials to Cairo, which reflects the Serbian government’s interest in deepening bilateral relations with Egypt.
The Serbian minister pointed out that there are great opportunities for Egyptian companies to participate in the projects that Serbia is currently implementing in field of developing the country’s infrastructure, which aims to facilitate logistical transport system between Serbia and main ports of neighboring countries.
