Uzbekistan and Serbia have started work on a free trade agreement that would introduce zero-rate tariffs on all goods on a reciprocal basis, according to Uzbekistan’s Minister of Investment, Industry and Trade Laziz Kudratov. The proposed agreement is intended to create new conditions for bilateral trade and improve access for Uzbek products to the Serbian market. The sides are currently working on the draft document.
“We have begun working on a mechanism that will directly benefit trade—a free trade agreement. We will soon finalize the draft agreement and sign it, and this will create attractive conditions for Uzbek products on the Serbian market,” Kudratov said.
According to the minister, the agreement would provide for zero customs tariffs on all goods on a parity basis. Kudratov noted that the economies of Uzbekistan and Serbia do not compete directly and can complement each other, which could support further development of bilateral trade Alongside the free trade negotiations, the two countries have adopted a separate industrial cooperation program. It includes projects in light industry, agriculture, pharmaceuticals, geology and metallurgy, as well as information technology.
A formal step toward the negotiations was taken on September 8, when Kudratov and Serbian Minister of Internal and Foreign Trade Jagoda Lazarevic exchanged a statement of intent to establish a working group for negotiations on the free trade agreement. The working group will be responsible for negotiations on the proposed agreement as Uzbekistan and Serbia work toward finalizing its draft and subsequent signing.
Earlier Daryo reported that Uzbekistan and Serbia upgraded their relations to a strategic partnership following talks between Presidents Shavkat Mirziyoyev and Aleksandar Vucic in Belgrade. The leaders signed a Joint Declaration establishing the strategic partnership, while the two sides exchanged agreements covering trade, transport, energy, agriculture, technology and cultural cooperation.
