Ministry of Investment, Industry and Trade of the Republic of Uzbekistan

On 7 September, Belgrade hosted the first meeting of the Uzbekistan–Serbia Intergovernmental Commission on Economic Cooperation, co-chaired by Laziz Kudratov, Minister of Investment, Industry and Trade of the Republic of Uzbekistan, and Nenad Popović, Minister responsible for international economic relations of the Republic of Serbia. The meeting brought together representatives of relevant government agencies and regions.

During the meeting, it was emphasized that the upcoming first-ever visit by the President of the Republic of Uzbekistan to Serbia in the history of bilateral relations will mark a new stage in the partnership between the two countries. The launch of the Commission is intended to translate the political will of the two countries’ leaders into concrete economic solutions.

The entry into force of the agreements on economic cooperation and on the mutual promotion and protection of investments provides a solid legal framework for further expanding business ties.

In reviewing bilateral trade, the parties noted that its current volume does not yet reflect the full potential of the two economies. With a view to further liberalizing trade, a Joint Declaration on the establishment of a working group to launch negotiations on a Free Trade Agreement has been prepared for signature. This mechanism is expected to help create more favorable conditions for the mutual supply of goods and services and provide additional momentum to the growth of bilateral trade.

Given the alignment of sectoral priorities, the parties intend to combine increased supplies with the establishment of joint production facilities. Ten enterprises with Serbian capital are already operating in Uzbekistan. Opportunities were identified for the localization of components and pharmaceuticals, textile production, seed production, horticulture and dairy processing. The technology agenda covered critical minerals, digital geology, artificial intelligence, 5G connectivity and export-oriented IT projects.

To facilitate freight transportation, the parties proposed introducing the electronic exchange of permits and advance customs information, thereby reducing paper-based documentation. In the infrastructure sector, prospects were considered for Uzbekistan’s participation in the modernization of Serbia’s railway network, including the construction of a 200-kilometre section.

The newly established Uzbekistan–Serbia Business Council will contribute to advancing joint initiatives. The parties plan to make greater use of international exhibition platforms and organize joint business events to showcase products and investment opportunities, identify potential partners and discuss prospects for sectoral cooperation. One such event will be EXPO 2027, to be held in Belgrade.

Alongside economic issues, the participants discussed joint research, academic exchanges, cooperation in culture and tourism, labour migration and social protection. The development of partnership ties between Tashkent and Belgrade, Samarkand and Novi Sad, as well as between the Samarkand Region and the Autonomous Province of Vojvodina, was supported. To strengthen interregional cooperation, it was proposed to approve a schedule of reciprocal visits for 2026–2027.

Following the meeting, the parties signed a Joint Action Plan for the Development of Industrial Partnership for 2026–2028. An agreement was reached to hold the second meeting of the Commission in Uzbekistan in 2027.