SCCI showcases Sharjah’s investment opportunities for Serbia businesses

The Sharjah Chamber of Commerce and Industry (SCCI) hosted the “Sharjah–Serbia Business Forum” at its headquarters to discuss prospects for developing economic relations and strengthening investment cooperation with the Republic of Serbia’s business community.

The event forms part of SCCI’s strategy to deepen economic and trade ties between Sharjah and international markets, building on the growing relations between the UAE and Serbia and in line with the implementation of the Comprehensive Economic Partnership Agreement, which entered into force last June.

The meeting was convened in the presence of Sheikh Majid Faisal Khalid Al Qasemi, First Vice Chairman of Sharjah Chamber of Commerce and Industry (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.

Also present were Humaid Mohammed Bin Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry; Vladimir Marić, Ambassador of the Republic of Serbia to the UAE; Ahmed Mohamed Obaid Al Naboodah, SCCI Board Member; Dr Fatema Khalifa Al-Muqarrab, Director of the International Relations Department at SCCI; and Marwan Saleh Al Ichla, Director of Investment Promotion and Support at Sharjah FDI Office (Invest in Sharjah).

The forum was attended by representatives of the local business community and the Serbian delegation comprising leading investors, private enterprises, and economic institutions.

In his opening address, Sheikh Majid Faisal Khalid Al Qasemi welcomed the Serbian delegation and emphasized that the forum constitutes a strategic milestone in advancing the UAE–Serbia partnership, particularly after the Comprehensive Economic Partnership Agreement between the two countries entered into force on June 1.

He noted that the agreement sets out a clear roadmap for building a shared future that supports economic prosperity and is projected to contribute approximately $351 million to the UAE’s GDP by 2032.

Al Qasemi further highlighted that performance indicators confirm the strong trajectory of bilateral relations, with the UAE ranking as the third-largest market for Serbian exports in the Middle East and Serbia’s leading trade partner in the Gulf, accounting for more than 55% of its total trade with the region.

He elucidated that non-oil bilateral trade reached $121.4 million in 2024, reflecting a doubling in value compared to 2021, with projections indicating that trade volumes could reach $500 million in the coming years. Emirati investments in Serbia have surpassed $4 billion, directed toward strategic projects encompassing key sectors such as renewable energy, agriculture, and logistics.

“The Sharjah Chamber is focused on deepening this partnership by offering effective platforms for business owners and investors, promoting the exchange of knowledge and best practices, and facilitating the establishment of joint ventures that support our economic priorities and sustainable growth objectives. I am confident that the forum will operate as a strategic platform for expanding bilateral cooperation and initiating collaborative investment projects,” Al Qasemi added.

For his part, Stevan Nikčević pointed to Serbia’s current economic reform agenda, detailing the major transformations in its economy and the government’s investment-support programs and regulatory measures adopted in recent years to attract foreign investments.

Meanwhile, Mihailo Vesović praised the depth of the strategic relations between Serbia and the UAE, including the Emirate of Sharjah, commending SCCI’s role in bridging business communities.

He stated in his remarks that Serbia views the UAE as a trusted partner and a principal contributor to national development, particularly amid the country’s ongoing economic transformations and its recent significant milestone by obtaining its first-ever investment-grade credit rating as the leading recipient of foreign direct investment (FDI) in the Western Balkans.

Vesović confirmed that the Serbian delegation is committed to cultivating long-term partnerships in sectors such as advanced technology, agriculture, and manufacturing, capitalizing on the benefits of the Comprehensive Partnership Agreement to boost trade flows and expand bilateral investment opportunities.

The Sharjah–Serbia Business Forum featured a structured agenda of presentations and panel discussions showcasing the economic capabilities of both markets.

The Sharjah Chamber delivered an in-depth overview of the emirate’s services and facilities offered to foreign investors, underscoring its diversified economy and advanced infrastructure that position Sharjah as a preferred business destination. It further outlined Sharjah’s investment incentives and the streamlined processes designed to facilitate sustainable business partnerships.

Staff Reporter, Gulf Today