Sharjah and Serbia Strengthen Economic Ties at Business Forum

Post by : Mara Rahim

The Sharjah Chamber of Commerce and Industry (SCCI) recently held the “Sharjah–Serbia Business Forum” at its headquarters, aiming to fortify economic relations and foster investment cooperation between Sharjah and Serbia. This event reflects SCCI’s ongoing initiative to enhance trade ties with international partners.

This forum follows the signing of the Comprehensive Economic Partnership Agreement between the UAE and Serbia, effective since last June, designed to outline a framework for trade and investment collaboration. The agreement is projected to add approximately US$351 million to the UAE’s GDP by 2032, emphasizing the rising significance of their bilateral relations.

Attendees included prominent officials and business leaders, such as Sheikh Majid Faisal Khalid Al Qasemi, First Vice Chairman of SCCI; Stevan Nikčević, Serbia’s State Secretary for Foreign and Internal Trade; and Mihailo Vesović, Deputy President of the Chamber of Commerce and Industry of Serbia. Alongside them were Humaid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers; Vladimir Marić, Serbia’s Ambassador to the UAE; and key members of both local and Serbian business communities.

Sheikh Majid, in his opening statement, welcomed the Serbian delegation and labeled the forum as a crucial step in enhancing bilateral trade and investment relations. He highlighted Serbia as the UAE’s main Gulf trading partner, accounting for over 55% of its total trade in the area. Non-oil trade reached US$121.4 million in 2024, marking a doubling since 2021, with expectations to hit US$500 million shortly.

Sheikh Majid also underlined Sharjah’s appeal as a prime investment location. He articulated how SCCI provides vital business platforms, supports knowledge sharing, and facilitates alliances that align with sustainable growth aspirations. His optimism that the forum would point out fresh investment prospects and bolster UAE-Serbia cooperation was evident.

Stevan Nikčević underscored Serbia’s active economic reforms, citing investment-support initiatives and new regulations designed to lure foreign investments. Meanwhile, Mihailo Vesović illustrated the robust relationship with the UAE and Serbia’s commitment to forging long-term partnerships in sectors like advanced technology, agriculture, and manufacturing. He remarked on Serbia’s achievement in obtaining its inaugural investment-grade credit rating, positioning it as a leading destination for foreign direct investment in the Western Balkans.

The forum included presentations and panel discussions that highlighted Sharjah’s investment landscape, infrastructure, and business incentives. Serbian Development Agency representatives detailed key investment sectors and incentives available for foreign investors, while Sharjah’s FDI office demonstrated the services offered to support investors looking to establish or expand in the emirate.

Networking opportunities and personalized meetings allowed business leaders from both countries to investigate partnerships, deliberate on logistics, and optimize trade prospects. The forum aimed to enhance direct communication between the private sectors of Sharjah and Serbia, translating government agreements into successful investment endeavors.

The Sharjah–Serbia Business Forum underscored the expanding economic cooperation between the two nations, illustrating fresh opportunities across various sectors and reinforcing Sharjah’s role as a dynamic hub for international investment.