Two landlocked economies seek wider access through trade, logistics and political alignment.
BELGRADE, SERBIA
Serbia and Uzbekistan are seeking to accelerate bilateral trade and investment during Uzbek President Shavkat Mirziyoyev’s official visit to Belgrade. The trip follows the inaugural meeting of the countries’ Joint Commission for Economic Cooperation, created to transform expanding political relations into commercial projects and closer connections between businesses.
Bilateral trade reached a record $41.9 million in 2025, increasing 27% from the previous year. Serbian exports accounted for $26.39 million, while imports from Uzbekistan totalled $15.46 million. The figures remain modest compared with the size of the two economies, but their rapid growth has encouraged both governments to consider a more ambitious institutional framework.
Agriculture and food production are among the most dynamic areas. Serbian agricultural and food exports to Uzbekistan increased by 54.1% during the first seven months of 2026. Seeds, planting materials, agricultural machinery and food-processing equipment have been identified as products with substantial potential for further expansion.
The cooperation agenda also includes mechanical and electrical engineering, pharmaceuticals, textiles, construction, energy, transportation, logistics, information technology, artificial intelligence, robotics and digitalisation. Serbian minister Nenad Popović and Uzbek investment and trade minister Laziz Kudratov signed a protocol establishing priority sectors and assigning the joint commission responsibility for monitoring implementation.
Both countries have also opened discussions on a bilateral free-trade agreement. Eliminating tariffs could make Serbian products more competitive in Central Asia while allowing Uzbek companies to use Serbia as a commercial gateway to Central and Southeastern Europe. Serbia, meanwhile, sees Uzbekistan—Central Asia’s most populous country—as an expanding market supported by industrial reforms and strong economic growth.
Mirziyoyev’s talks with Serbian President Aleksandar Vučić are expected to produce a joint declaration establishing a strategic partnership, accompanied by additional agreements and a bilateral business forum. Organised labour migration is also on the agenda, reflecting Serbia’s workforce shortages and Uzbekistan’s interest in expanding regulated employment opportunities abroad.
The relationship carries a political dimension beyond commerce. Uzbekistan supports Serbia’s territorial-integrity position regarding Kosovo, while Belgrade is preparing to open an embassy in Tashkent. Serbia’s outreach also fits its broader policy of cultivating economic partners outside the European Union while maintaining its ambition to join the bloc.
The challenge will be converting diplomatic momentum into transportation links, private investment and sustained commercial demand. Geography offers both countries a reason to cooperate, but institutions and businesses will determine whether the current record becomes the foundation of a larger economic corridor.
Diplomacy creates access, but commerce determines whether connections endure.