Shavkat Mirziyoyev and President of the Republic of Serbia Aleksandar Vučić took part in a joint business forum. The President’s press service reported this.
More than 200 officials and business representatives from the two countries, as well as heads of leading industrial and trading companies, took part in the event. Serbian companies including Galenika, AbelaPharm, Gosa FOM, YUMCO and Luss Textile were represented.
The two sides set a goal of increasing bilateral trade severalfold by expanding the range of products supplied between the countries and simplifying customs procedures. To develop industrial cooperation, a joint action plan for 2026−2028 was adopted.
According to a report by Uzbekistan 24 TV, Shavkat Mirziyoyev identified five key areas for developing cooperation with Serbia: mechanical engineering and electrical engineering, pharmaceuticals, light industry, agriculture and food processing, as well as the digital economy.
The President expressed Uzbekistan’s readiness to create favorable investment and business conditions for Serbian companies and provide practical support in implementing every joint project.
Mechanical engineering, and electrical engineering
Mechanical engineering and electrical engineering were identified as the first priority areas. Mirziyoyev said Uzbekistan and Serbia have significant potential for cooperation in the automotive industry.
The President noted that the two countries currently produce nearly 500,000 vehicles annually in cooperation with General Motors, Volkswagen, Kia and BYD. He also highlighted that Uzbekistan exports electrical engineering products to more than 70 countries.
Uzbekistan proposed that Serbian companies jointly produce automotive and industrial spare parts, components, equipment, transformers and automation systems. The President specifically highlighted opportunities for cooperation with Gosa FOM.
“We see great prospects for cooperation with Gosa FOM in this area. I would like to emphasize once again that we will create all the necessary conditions for working together”, Shavkat Mirziyoyev said.
Pharmaceuticals
Pharmaceuticals were identified as the second priority area. Uzbekistan’s pharmaceutical market is worth around $3 billion. Mirziyoyev called on Serbian companies to become more actively involved in the Uzbek market, emphasizing that the goal is not simply to increase imports of medicines.
The President noted Serbia’s extensive experience in the sector and proposed moving from pharmaceutical trade to technology transfer by establishing joint ventures and launching localized production of pharmaceutical products.
“We have created a very good foundation for this. A pharmaceutical cluster has been established, and all the necessary conditions are in place for foreign partners. I assure you that we will do everything possible for Serbian companies. We see great potential for cooperation with Serbian companies such as Galenika and AbelaPharm”, the President said.
Light industry
Light industry was identified as the third priority area. It was noted that Uzbekistan produces more than 4.5 million tonnes of raw cotton annually, a significant volume for Central Asia.
Uzbekistan has developed a full value chain from raw materials to finished products, while textile products are exported to more than 75 countries.
The country therefore proposed combining Uzbekistan’s production capabilities with the expertise of Serbian companies to implement joint projects in clothing and textile manufacturing.
Negotiations are currently underway with YUMCO and Luss Textile on localizing production in Uzbekistan. The President noted that many companies are interested in cooperation in this area.
Agriculture and food processing
The fourth priority area covers agriculture and food processing. The parties noted Uzbekistan’s large agricultural base and sizeable consumer market. The country ranks among the world’s top 10 exporters of cherries, peaches, plums and apricots.
Mirziyoyev described Serbia’s experience in breeding, seed production and agricultural technologies as important for Uzbekistan. Agreements have been reached with the Institute of Field and Vegetable Crops in Novi Sad on developing horticulture.
“We need scientific technologies and experience. Serbia has them. If you come to Uzbekistan, we will create all the necessary conditions for you. This will be a mutually beneficial partnership. We invite our partners to implement joint projects in growing and processing agricultural raw materials and producing export-oriented products”, the President said.
The President expressed Uzbekistan’s readiness to establish a joint agro-cluster, noting the country’s extensive experience in this area.
Digital economy
The fifth priority area is the digital economy. The President noted that Serbia has developed a strong IT sector and a cluster focused on training highly qualified specialists. Uzbekistan’s IT industry is also developing rapidly, with exports of IT services exceeding $1 billion in a short period.
“We have ambitious goals and a strong foundation”, Shavkat Mirziyoyev said.
The International Information and Communication Technologies Week will be held in Tashkent on September 22−25. A dedicated business forum for Serbian companies is planned as part of the event. According to the President, this will create new opportunities for joint projects in software development and artificial intelligence.
Mirziyoyev stressed the importance of strengthening political trust through joint ventures, investment, technology and new jobs.
Following talks with Serbian President Aleksandar Vučić, he announced that a decision had been made to open a special diplomatic mission of Uzbekistan in Belgrade. Diplomats are expected to be sent to Serbia as early as next week.
The two sides also agreed to accelerate the process of launching direct flights between the two countries. The President noted that the new air links would help increase bilateral trade.
Shavkat Mirziyoyev expressed confidence that the business forum would mark a new stage in practical business cooperation between Uzbekistan and Serbia.
“I wish you success, peace and prosperity. Our historic visit has taken place, and we are very pleased with its results. We look forward to welcoming you to Uzbekistan. We are determined to ensure the active participation of Serbian companies in the Uzbek market. This is a large and sizeable market in Central Asia”, the President concluded.
The English version of this material was generated with the assistance of AI translation tools and may differ slightly from the original text.
