Sharjah Chamber Showcases Investment Opportunities At Sharjah-Serbia Business Forum For Economic Growth

The Sharjah Chamber of Commerce and Industry (SCCI) recently hosted the "Sharjah–Serbia Business Forum" to explore ways to enhance economic ties with Serbia. This event aligns with SCCI's strategy to strengthen trade relations between Sharjah and international markets, following the Comprehensive Economic Partnership Agreement that took effect last June.

Sheikh Majid Faisal Khalid Al Qasemi, First Vice Chairman of SCCI, welcomed the Serbian delegation. He highlighted the forum as a crucial step in advancing UAE-Serbia relations. The agreement is expected to add around US$351 million to the UAE's GDP by 2032.

Al Qasemi noted that the UAE is Serbia's third-largest export market in the Middle East and its main trade partner in the Gulf, accounting for over 55% of Serbia's total trade with the region. Non-oil bilateral trade reached US$121.4 million in 2024, doubling since 2021, with future projections aiming at US$500 million.

Stevan Nikčević from Serbia discussed his country's economic reforms and investment-support initiatives aimed at attracting foreign investments. Meanwhile, Mihailo Vesović praised the strong strategic ties between Serbia and the UAE, highlighting SCCI's role in connecting business communities.

Vesović emphasized that Serbia sees the UAE as a key partner in national development amid ongoing economic changes. He confirmed Serbia's commitment to fostering long-term partnerships in sectors like advanced technology, agriculture, and manufacturing under the Comprehensive Partnership Agreement.

The forum featured presentations on both markets' economic capabilities. The Sharjah Chamber detailed its services for foreign investors, emphasizing its diverse economy and infrastructure that make it an attractive business hub.

Facilitating Business Ventures

Marwan Saleh Al Ichla outlined key investment opportunities in Sharjah and services available for investors looking to expand or establish operations there. The Development Agency of Serbia also presented investment opportunities and incentives offered to investors.

The forum saw significant participation from senior business leaders and investors interested in exploring new opportunities across various sectors. It highlighted Sharjah’s dynamic business environment and Serbia’s strategic location as a gateway to European markets.

Networking and Future Collaborations

The event included networking sessions and one-on-one meetings between business leaders from both countries. These discussions provided a platform for sharing insights on optimizing new customs measures, paving the way for enhanced economic cooperation beneficial to both Sharjah and Serbia.

The forum concluded by emphasizing direct communication between private sectors of both nations. It underscored how such forums can transform government agreements into mutually beneficial investment projects.

With inputs from WAM