Uzbekistan and Serbia plan to increase trade several times over
The establishment of a strategic partnership between Uzbekistan and Serbia is giving a new impetus to economic cooperation. Tashkent and Belgrade have outlined concrete plans to increase mutual trade turnover several times over, expand industrial cooperation, and launch the production of high value-added goods.
More than 200 official and business representatives from both countries took part in a joint business forum held with the participation of President Shavkat Mirziyoyev and Serbian President Aleksandar Vucic.
Notably, negotiations are no longer limited to trade alone. The parties plan to implement joint projects in a number of strategic areas ranging from pharmaceuticals to artificial intelligence.
1. A new economic stage in Uzbekistan–Serbia relations
At the business forum, the head of state emphasized that the high-level productive negotiations have opened a new page in bilateral relations.
One of the main outcomes was the establishment of a strategic partnership between Uzbekistan and Serbia.
Now the main task is to translate the reached political agreements into specific investment and trade projects.
Representatives of major Serbian companies, including Galenika, AbelaPharm, Gosa FOM, YUMCO, and Luss Textile, also took part in the forum.
2. What will change to increase trade several times over?
The parties aim to significantly increase mutual trade.
To achieve this, emphasis is being placed on two main mechanisms:
Expanding the range of goods supplied between Uzbekistan and Serbia;
Simplifying customs procedures.
In other words, the goal is not merely to increase existing trade volumes, but to introduce new types of products to the markets of both countries.
Direction | Expected result |
|---|---|
Mutual trade | Increasing volume several times over |
Customs | Simplification of procedures |
Industry | Expansion of joint production |
Investment | New projects for Serbian business |
Technology | Software and artificial intelligence projects |
3. A joint plan for 2026–2028 has been adopted
It is envisaged that industrial cooperation will be developed not on the basis of random projects, but through a concrete plan.
To this end, a joint action plan for 2026–2028 was adopted.
This document can serve as a basis for forming production chains between Uzbek and Serbian enterprises, attracting investments, and mastering new types of products.
4. In which areas might joint plants appear?
President Shavkat Mirziyoyev outlined a number of priority areas for economic partnership.
Among them are:
Production of textile products;
Cooperation in the field of electrical engineering;
Joint production of automotive and industrial components;
Localization of pharmaceutical preparations;
Deep processing of fruit and vegetable products;
Projects in the field of software;
Cooperation on artificial intelligence.
A notable aspect in this list is that cooperation is moving from the trade of raw materials or finished goods to joint production and technology exchange.
5. The Uzbek market is opening up for Serbian business
The Uzbek side expressed its readiness to create a favorable investment and business environment in the country for Serbian companies.
The President emphasized that practical support will be provided during the implementation of each joint project.
This can serve to help Serbian companies view Uzbekistan not only as a domestic market, but also as a gateway to broader economic opportunities in Central Asia.
6. The most important result — implementation of agreements
At the end of the business forum, a number of bilateral economic agreements and trade contracts were signed.
Thus, the main outcome of the economic dialogue within the framework of the visit manifested itself in several directions:
strategic partnership + trade expansion + industrial cooperation + investment + technology.
Conclusion: now the main issue is turning numbers into projects
Political rapprochement in Uzbek-Serbian relations is being complemented by economic substance. The plan to increase trade several times over, the action program for 2026–2028, and the definition of a number of industrial and technological areas signify a new stage of this cooperation.
The most important issue now is not the agreements themselves, but how much investment, how much new production, and how much export volume they will turn into in practice.
If the designated projects are implemented on time, the strategic partnership can elevate relations between Uzbekistan and Serbia from a political level to a stable economic cooperation level.
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