Serbia and Uzbekistan target more trade as President Mirziyoyev visits Belgrade

Bilateral trade reached a record $41.9m in 2025, while Serbian agri-food exports rose 54.1% in the first seven months of 2026. The two sides are also discussing a free trade agreement and new investment projects. Serbia and Uzbekistan held the first meeting of their Joint Commission for Economic Cooperation in Belgrade on Monday, hours before Uzbek President Shavkat Mirziyoyev was due to arrive for a two-day official visit. The meeting brought together Serbian Minister Nenad Popović, responsible for international economic cooperation, and Uzbekistan’s Minister of Investment, Industry and Trade Laziz Kudratov. As Euronews Serbia reported, the talks focused on increasing trade and investment, connecting companies more directly and identifying sectors for joint projects. Bilateral trade reached about $41.9m (€36.1m) in 2025, a record for the two countries. Serbian Chamber of Commerce figures put the increase at 27% compared with 2024, when trade was worth $32.9m. Serbian exports accounted for $26.39m of last year’s total, while imports from Uzbekistan reached $15.46m. “Our task is to turn this strong political momentum into concrete results: increased trade, new investments, joint projects, and a stronger presence of Serbian companies on the Uzbek market,” Popović said. Agriculture leads the expansion Agriculture and food production are emerging as two of the fastest-growing parts of the relationship. Serbian exports of agricultural and food products to Uzbekistan rose by 54.1% between January and July 2026, according to figures presented at the meeting. Officials identified seeds and planting material, agricultural machinery and food-processing equipment as areas where further growth could be possible. But the two governments are looking well beyond agriculture. The sectors discussed include mechanical and electrical engineering, pharmaceuticals, textiles, construction, energy, transport and logistics, as well as information technology, artificial intelligence, robotics and digitalisation. At the end of Monday’s meeting, Popović and Kudratov signed a protocol setting out priority areas and future steps. The two sides also agreed that the commission would become the main institutional mechanism for following up agreements and developing new economic initiatives. Free trade talks on the table One of the potentially more consequential steps is the prospect of a bilateral free trade agreement. “We are also beginning talks on a free trade agreement, which, together with duty-free trade, would lead to increased trade in goods,” Kudratov said. The idea predates Mirziyoyev’s visit. Serbian and Uzbek officials had already discussed launching negotiations on a free trade agreement during talks in Tashkent in May. For both sides, the objective is to move beyond a bilateral trade relationship that remains small compared with the size of their economies. Uzbek economic officials have argued that Serbia could provide Uzbek companies with a gateway to Central and Southeast European markets, while closer ties with Uzbekistan would give Serbian firms greater access to one of Central Asia’s largest markets. Mirziyoyev visit adds political momentum The commission met shortly before Mirziyoyev’s arrival in Belgrade, where he is due to hold talks with Serbian President Aleksandar Vučić. The Uzbek presidency said the visit would focus on trade, investment and joint projects in transport, mechanical engineering, light and food industries, agriculture, pharmaceuticals and information technology. Organised labour migration is also on the agenda. On Tuesday, the two presidents are scheduled to sign a joint statement establishing a strategic partnership between Serbia and Uzbekistan, alongside a broader package of bilateral documents. A Serbia-Uzbekistan business forum is also planned in Belgrade. The visit follows Vučić’s trip to Uzbekistan in October 2025 and comes as Serbia prepares to open an embassy in Tashkent, another sign of the rapid expansion of political contacts between the two countries. For Belgrade, the relationship also has a political dimension: Serbian officials have repeatedly highlighted Uzbekistan’s support for Serbia’s territorial integrity and its position on Kosovo.