Serbian and Uzbek Business Communities Open a New Era of Cooperation – Political Support at the Highest Level

Serbia and Uzbekistan enjoy strong political and institutional support aimed at further strengthening economic relations, connecting their business communities, and enabling joint activities on third markets. Uzbekistan’s participation in the international exhibition EXPO 2027 in Belgrade will further contribute to promoting the country’s economy and strengthening its ties with Serbia and the region, participants concluded at the Serbia–Uzbekistan Business Forum, held in Tashkent as part of the official visit of President of the Republic of Serbia Aleksandar Vučić to the Republic of Uzbekistan.

The forum brought together more than 80 Uzbek companies and 12 Serbian companies from the construction, agriculture, IT, metal, and defense industries, with the aim of fostering deeper bilateral cooperation and exploring new investment opportunities. President Vučić invited Uzbek companies to invest in Serbia, emphasizing that the country provides a stable economic environment, a predictable tax system, and numerous investment incentives.

“Serbia has created a stable and stimulating business environment, and companies from Uzbekistan can always count on our support. I believe we can build strong mutual trust and jointly enter third markets,” said President Vučić.

He emphasized that Serbia sees great potential for cooperation with Uzbekistan in the fields of information and communication technologies, education and science, healthcare, biotechnology, the pharmaceutical industry, the textile sector, and agriculture.

The Serbian business delegation was led by Mihailo Vesović, Deputy President of the Chamber of Commerce and Industry of Serbia (CCIS), and Ivan Bošnjak, Vice President of the CCIS and General Director of Millennium Team.

Presenting Serbia’s business and investment potential to Uzbek entrepreneurs, Vesović underlined that the business forum confirms the continuous strengthening of economic relations between the two countries and provides an excellent opportunity for Serbian companies to showcase their products and services in the Central Asian market.

“According to the data of the Statistical Office of the Republic of Serbia, trade exchange between Serbia and Uzbekistan in the second quarter of 2025 amounted to 29 million USD. Although this figure does not yet reflect our full potential, it represents an almost threefold increase compared to the same period last year. This trend demonstrates growing interest and indicates room for further cooperation,” Vesović stated.

During the forum, a Memorandum of Cooperation was signed between the Chamber of Commerce and Industry of Serbia and the Chamber of Commerce of Uzbekistan, defining the framework for enhancing bilateral economic cooperation, information exchange, and support for businesses from both countries.

Jamshid Khodjaev, Deputy Prime Minister of the Republic of Uzbekistan, emphasized that the business forum serves as an important platform for fostering trade, economic, and investment relations between the two countries.
“Today we have gathered more than a hundred entrepreneurs and institutional representatives, confirming strong trust and long-term commitment to cooperation between Serbia and Uzbekistan,” Khodjaev underlined.

During the visit, Serbian companies toured the Tashkent Technopark, where they learned about Uzbekistan’s leading industries in the automotive, pharmaceutical, chemical, textile, defense, construction, and mining sectors.

The Business Forum in Tashkent represents another step toward deepening economic relations between Serbia and Uzbekistan and is an important platform for developing joint projects across various sectors of the economy.