Volume of trade exchange between Egypt, Serbia is $300 mln in 2024

Egyptian Minister of Agriculture and Land Reclamation Alaa Farouk, stressed on Tuesday, that Egyptian-Serbian relations are historic, whether at the bilateral level since the beginning of diplomatic relations in 1908 or at the multilateral level through the prominent role of our two countries in establishing the Non-Aligned Movement.

 

Farouk added that Egyptian-Serbian relations have witnessed significant growth through the exchange of high-level visits between the two sides, which began with President Abdel Fattah El-Sisi's visit to Serbia in 2022, where it was agreed to establish the Joint Supreme Committee for Economic, Scientific and Technical Cooperation.

 

A number of agreements and memoranda of understanding were also signed to enhance bilateral cooperation between both states; most notably the Free Trade Agreement.

 

The agreement contributes to activating and increasing the flow of exports and imports between the two countries, in addition to signing a number of other memoranda of understanding in the fields of higher education, culture, trade, agriculture and investment, and a desire from both sides to enhance cooperation.

 

Farouk added that Egypt was also honored by the visit of Serbian President Aleksandar Vucic to Cairo in July of last year 2024, during which he met with President El-Sisi to enhance joint cooperation between the two sides.

 

Farouk added that Egyptian-Serbian relations have witnessed great political, economic and cultural momentum, especially after the mutual presidential visits. Currently, the two sides are cooperating in a number of important fields. An Egyptian company has also started manufacturing agricultural tractors in Serbia in cooperation with Serbian investors.

 

Data on the volume of trade exchange between the two countries has shown a significant increase in recent years, rising from $94 million in 2022 to about $300 million in 2024, including Serbian imports that amounted to about $41 million to Egypt, while Egypt's exports of various goods to Serbia amounted to about $72 million, while services, especially tourism, represented about $180 million.