Post by : Maya Rahman

Recently, the Sharjah Chamber of Commerce and Industry (SCCI) convened the “Sharjah–Serbia Business Forum” at its headquarters, aiming to explore ways to strengthen economic ties and bolster investment cooperation with Serbia. This forum is a testament to SCCI’s unwavering commitment to enhance trade relations with global markets.

The initiative follows the UAE and Serbia's ratification of the Comprehensive Economic Partnership Agreement, effective since last June, creating a framework for trade and economic collaboration. This partnership is predicted to contribute approximately US$351 million to the UAE’s GDP by 2032, underscoring the significance of their bilateral relations.

Attendees comprised influential officials and business figures, including Sheikh Majid Faisal Khalid Al Qasemi, First Vice Chairman of SCCI; Stevan Nikčević, State Secretary at the Ministry of Foreign and Internal Trade of Serbia; and Mihailo Vesović, Deputy President of the Chamber of Commerce and Industry of Serbia. Notable participants also included Humaid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers; Vladimir Marić, Serbia’s Ambassador to the UAE; along with key members of the local business landscape and the Serbian delegation.

Sheikh Majid initiated the event, welcoming the Serbian group and describing the forum as a pivotal moment for enhancing bilateral trade and investments. He noted that the UAE remains Serbia’s principal partner in the Gulf, responsible for over 55% of the nation's trade in this region. In 2024, non-oil trade between both countries hit US$121.4 million, representing a significant growth since 2021, with forecasts suggesting it could soar to US$500 million soon.

Emphasizing Sharjah’s appeal as an investment hub, Sheikh Majid stated that SCCI is dedicated to providing business platforms, facilitating knowledge exchange, and promoting joint ventures aligned with sustainable development. He expressed optimism that the forum would uncover noteworthy investment prospects and enhance collaboration between the UAE and Serbia.

Stevan Nikčević showcased Serbia’s progress in economic reforms, the government’s supportive programs for investments, and the implementation of new regulations to attract foreign investments. Likewise, Mihailo Vesović commended the robust relationship with the UAE, underlining Serbia’s determination to forge long-lasting partnerships in sectors such as advanced technology, agriculture, and manufacturing. He also mentioned Serbia's recent achievement of securing its first investment-grade credit rating and its status as a top destination for foreign direct investment in the Western Balkans.

The forum included presentations and discussions that highlighted Sharjah’s investment prospects, infrastructure, and incentives for businesses. Serbian Development Agency representatives outlined critical investment sectors and benefits for foreign investors, while Sharjah’s FDI office presented the support services available to those looking to establish or grow their presence in the emirate.

Through networking sessions and one-on-one dialogues, business leaders from both nations were able to explore collaborative opportunities, discuss logistics, and fine-tune trade potentials. The forum underscored the importance of direct communication between Sharjah and Serbia’s private sectors, aiming to convert governmental agreements into viable investment ventures.

The Sharjah–Serbia Business Forum demonstrated the expanding economic cooperation between the two nations, showcasing diverse opportunities across various sectors while reinforcing Sharjah’s role as a dynamic international investment hub.

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