Uzbekistan and Serbia to Expand Economic Cooperation After First Intergovernmental Commission Meeting
Economy
The first meeting of the Uzbekistan-Serbia Intergovernmental Commission on Economic Cooperation was held on September 7. It was co-chaired by Uzbekistan’s Minister of Investment, Industry and Trade Laziz Kudratov and Serbia’s Minister for International Economic Relations Nenad Popovic, with discussions focused on expanding trade, investment and industrial cooperation.
Participants noted that the upcoming first-ever visit by the President of Uzbekistan to Serbia will open a new stage in bilateral relations. The launch of the commission is intended to translate the political will of the two countries’ leaders into concrete economic decisions.
To further liberalize trade, the sides prepared a Joint Declaration on establishing a working group to begin negotiations on a Free Trade Agreement. The mechanism is expected to create more favorable conditions for trade in goods and services and provide additional momentum to bilateral turnover.
Taking into account shared sectoral priorities, the parties plan to combine increased supplies with the creation of joint production facilities. Ten enterprises with Serbian capital are already operating in Uzbekistan. Potential areas include localization of components and medicines, textile production, seed production, horticulture and dairy processing. The technology agenda covers critical minerals, digital geology, artificial intelligence, 5G connectivity and export-oriented IT projects.
To facilitate freight transportation, the sides proposed electronic exchanges of permits and advance customs information. They also discussed possible Uzbek participation in the modernization of Serbia’s railway network, including construction of a 200-kilometer section.
The Uzbek-Serbian Business Council will support the promotion of joint initiatives. The countries also plan to use international exhibition platforms and hold joint business events, including EXPO 2027 in Belgrade.
The meeting concluded with the signing of an Action Plan for the Development of Industrial Partnership for 2026–2028. The parties agreed to hold the commission’s second meeting in Uzbekistan in 2027.
To further liberalize trade, the sides prepared a Joint Declaration on establishing a working group to begin negotiations on a Free Trade Agreement. The mechanism is expected to create more favorable conditions for trade in goods and services and provide additional momentum to bilateral turnover.
Taking into account shared sectoral priorities, the parties plan to combine increased supplies with the creation of joint production facilities. Ten enterprises with Serbian capital are already operating in Uzbekistan. Potential areas include localization of components and medicines, textile production, seed production, horticulture and dairy processing. The technology agenda covers critical minerals, digital geology, artificial intelligence, 5G connectivity and export-oriented IT projects.
To facilitate freight transportation, the sides proposed electronic exchanges of permits and advance customs information. They also discussed possible Uzbek participation in the modernization of Serbia’s railway network, including construction of a 200-kilometer section.
The Uzbek-Serbian Business Council will support the promotion of joint initiatives. The countries also plan to use international exhibition platforms and hold joint business events, including EXPO 2027 in Belgrade.
The meeting concluded with the signing of an Action Plan for the Development of Industrial Partnership for 2026–2028. The parties agreed to hold the commission’s second meeting in Uzbekistan in 2027.
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