The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Serbia came into force on June 1, 2025, aiming to eliminate or reduce tariffs on more than 96% of product lines and expand bilateral trade and investment.
The UAE-Serbia CEPA aims to foster growth in non-oil trade, which reached $121.4 million in 2024, nearly double the figure recorded in 2021. The deal is expected to add $351 million to the UAE’s GDP by 2031, according to official estimates.
Under the agreement, both countries will benefit from enhanced market access, reduced trade barriers and increased investment flows across sectors such as agriculture, logistics, energy and technology. Serbia is the UAE’s largest trade partner in the Balkans and accounted for 55% of the country’s trade with the GCC in 2023.
The CEPA is part of the UAE’s broader strategy to sign bilateral trade deals to reach $1.1 trillion in non-oil foreign trade and double the national economy to $800 billion by 2031. It is the 10th CEPA to be implemented, with 27 agreements signed to date across regions including South America, Southeast Asia, Africa, and Europe.
The deal also supports growing foreign direct investment between the two countries. UAE companies have increased capital deployments in Serbian infrastructure and agriculture, while Serbian firms are expanding their presence in UAE logistics and agri-tech.
Monthly trade data from the UAE Federal Competitiveness and Statistics Centre shows rising demand for Serbian industrial products, while UAE exports to Serbia have included aluminium, petrochemicals, and machinery.
A joint committee will oversee implementation and monitor sectoral cooperation. The next bilateral economic review between the two governments is scheduled for Q4 2025.
