Čadež Invited Egyptian Businessmen to do Business in Serbia
Jul 15, 2024Cairo, July 14th
The President of the Chamber of Commerce and Industry of Serbia (CCIS) Marko Čadež presented a Digital Business Assistant at the Egyptian-Serbian Business Forum in Cairo and pointed out to Egyptian partners the possibility of using this service based on artificial intelligence to connect and cooperate with businessmen.
He pointed out that the CCIS already has a large number of databases on how to do business in Serbia and stated that within the next ten days, companies from Egypt can check the customs rates, or the quantity and price of exported apples per ton, on the English page of the CCIS website, for example. Also, as he said, to find partners, find out how to open an account, and get all relevant information important for business or opening a company.
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The President of Serbia, Aleksandar Vučić, stated that the two countries are opening a new era in relations, as well as in economic cooperation, and invited Egyptian companies to participate in the specialized Expo 2027 exhibition in Belgrade.
"We see a new era in our relations with the friendly country of Egypt. There is a lot to be done and there is a lot ahead of you and Serbia, and I hope that we will be able to fulfill it appropriately. We invite you as a country and companies to participate in the specialized exhibition EXPO 2027 in Belgrade, which means that we are interested in seeing some of your companies. We hope they can come to Belgrade and see what we can do together in the territory of Serbia," said Vučić.
The President of Serbia announced that Air Serbia will resume flights between Belgrade and Cairo as soon as possible.
The Prime Minister of the Arab Republic of Egypt, Mostafa Madbouli, assessed that the organization of such a forum marks a new era in the development of economic relations between the two countries, which goes hand in hand with exceptional political relations.
"This forum reflects the fruitful cooperation and strong ties that connect our two countries, especially since the historic visit of His Excellency President of Egypt Abdel Fattah el-Sisi to Serbia in July 2022. It reflects our common commitment to strengthen our economic ties and to expand investment cooperation between Egypt and Serbia," Madbuli said.
Madbuli welcomed the signing of the Agreement on Free Trade between Egypt and Serbia signed in the presence of President Vučić and Sisi, and assessed that the agreement will multiply the trade between the two countries in the next five years.
"As one of the largest nations in the Western Balkans, Serbia is the gateway to Europe, and Egypt is the gateway for Serbian products to Africa, thanks to the free trade agreements we have with the African continent," Madbuli said.
He welcomed President Vučić, as he said, the president of the friendly country of Serbia, as well as the Serbian delegation to "their second homeland, Egypt".
The president of the General Federation of Egyptian Chambers of Commerce, Ahmed Al Wakil, called on Serbian entrepreneurs to do business with the Egyptian ones and emphasized that the two countries can together increase exports to third markets and thereby achieve additional benefits from the signed Free Trade Agreement.
"Egypt, thanks to its position at the crossroads of trade routes, connects more than three billion consumers", said the President of the Federation of Egyptian Chambers of Commerce and said that now is the time for Egypt and Serbia to unite and further improve their economic potential.
The president of the Federation of Egyptian Chambers of Commerce, called on Serbian entrepreneurs to do business with the Egyptian ones and emphasized that the two countries can together increase exports to third markets and thereby achieve additional benefits from the signed Free Trade Agreement.
"Egypt, thanks to its position at the crossroads of trade routes, connects more than three billion consumers", said the President of the Federation of Egyptian Chambers of Commerce and said that now is the time for Egypt and Serbia to unite and further improve their economic potential.
"Together we can increase exports to third countries, through subcontracts that provide us with added value, but we can also have large investments and benefits from the Free Trade Agreement," Vakil said.
The Minister of Investments and Foreign Trade of Egypt, Hassan Al Khatib, said that the positive economic projections of Serbia and Egypt indicate great opportunities to strengthen and expand economic and trade relations.
He stated that the growth rate of the Serbian economy accelerated in the second half of 2023 and that the economy of Egypt has also shown that it is resilient in times of challenges and crises and that they have an influx of large foreign investments.
Al Khatib also said that the forum is taking place while Serbia and Egypt are celebrating 115 years of bilateral relations, during which the partnership has only strengthened, as evidenced by the recent visits of the heads of state.
Minister of Internal and Foreign Trade Tomislav Momirović said that partial and full liberalization for agricultural products from Serbia will begin immediately, as soon as the Free Trade Agreement with Egypt enters into force without a transition period, and that the liberalization for industrial products will be in phases of 10 years from entry into force of the Agreement.
"Almost 50 percent of agricultural products originating from Serbia will be able to be exported immediately without customs duties when it comes to industrial products. The agreement foresees that 30 percent of industrial products over 10 years will be marketed similarly," said the minister. Serbia will improve access for about 83 percent of agricultural and fruit products originating from Egypt, Momirović emphasized, and full liberalization will apply to 55 percent of tariff lines for imports from Egypt to Serbia.
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