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Economic cooperation between the two nations is steadily accelerating. Bilateral trade has surpassed $5 million, nearly doubling the level recorded in 2019. Serbia exports a range of products to Uzbekistan, including construction and finishing materials, furniture, chemicals, marble, grain, and agricultural goods. In return, Uzbekistan supplies cotton yarn, textiles, and legumes to Serbia. While trade volumes remain modest, it continues to demonstrate consistent and positive growth. The growing mutual interest reflects Tashkent’s new economic policy, focused on market diversification and establishing production chains with European partners. For Belgrade, Uzbekistan serves as a gateway to Central Asian markets, where investment and infrastructure initiatives are expanding. In July 2025, the ministers of investment and trade of both countries discussed the creation of an intergovernmental commission on economic cooperation and the preparation of a trade and economic cooperation agreement. Key priorities include industry, agriculture, logistics, energy, and pharmaceuticals. The parties are also exploring measures for mutual investment protection and tax regulation to improve business transparency. “We see great opportunities to expand our economic partnership and are ready to give it a practical dimension,” said Uzbekistan’s Minister of Foreign Affairs, Bakhtiyor Saidov, during a phone conversation with Serbia’s First Deputy Prime Minister and Minister of Foreign Affairs. Agriculture is receiving particular focus in the discussions. According to Serbia’s Ministry of Agriculture, Forestry, and Water Management, concrete measures are being explored to enhance bilateral cooperation in the agricultural sector. These include the exchange of expertise, the implementation of advanced irrigation technologies, and the expansion of trade in agri-food products. Collaborative projects in this area align with Uzbekistan’s broader strategy of promoting sustainable and environmentally conscious production, where Serbia can offer valuable expertise in technology and agricultural machinery. The humanitarian dimension remains an important part of the agenda. Discussions include expanding academic programs, organizing cultural events, and establishing direct air links between Tashkent and Belgrade. Cooperation in education and culture is viewed as a tool to strengthen mutual understanding between the peoples of the two countries. Labor migration constitutes a separate area of cooperation. While only 57 Uzbek citizens received work visas for Serbia in 2020, this number exceeded 1,000 in 2023. Demand for Uzbek specialists is growing amid Serbia’s labor shortages. A new migration agreement planned by the two sides is expected to provide a legal framework to protect migrant workers and expand their employment opportunities. The upcoming visit will focus on strengthening partnerships in key sectors such as engineering, agro-industry, pharmaceuticals, information technology, digitalization, tourism, and other strategic areas. Discussions will also cover organized labor migration, cultural-humanitarian and educational cooperation, and exchange of views on pressing international issues. A package of bilateral agreements is expected to be signed following the negotiations.
