Egypt, Serbia approve free trade agreement to boost bilateral economic cooperation
Updated 6/18/2025 3:45:00 AM
Arab Finance: Prime Minister Mostafa Madbouly announced the ratification of the free trade agreement between Egypt and Serbia, under which customs duties and quantitative restrictions on imports and exports of goods will be gradually eliminated, as per a statement.
The announcement was made during the Egyptian-Serbian Business Forum, which was attended by Serbian Prime Minister ?uro Macut and a high-level delegation visiting Egypt.
In addition to eliminating tariffs, the agreement includes provisions to enhance cooperation in services and investment, promote joint projects, enable technology transfer, and facilitate trade dispute resolution, all aimed at creating a favorable climate for bilateral investment.
In his speech, Madbouly noted that trade between the two countries has more than tripled from $94 million in 2022 to approximately $300 million in 2024.
He also expected this trade exchange to grow further after Egypt’s House of Representatives approved the free trade agreement.
Madbouly added that this agreement complements Egypt’s existing network of free trade deals with the European Union (EU), Arab countries, Africa, the UK, Türkiye, the US, and others, collectively granting access to markets of over three billion consumers.
He underscored Egypt’s modern logistics infrastructure as a key advantage for tripartite cooperation, allowing for joint manufacturing and duty-free exports with reduced transport costs.
Egypt also aims to share its experience in executing large-scale infrastructure and fourth-generation cities to support Serbia’s preparations for Expo Belgrade 2027.
Furthermore, Madbouly called on private sector representatives from both countries to seize the investment and partnership opportunities available.
The Prime Minister also emphasized Egypt’s readiness to support Serbian investors across various sectors, including industry, agriculture, energy, infrastructure, and major projects.
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