Chamber of Commerce: Serbian Delegation’s Visit to Egypt Encourages Better Economic Ties

Marko Cadez (Photo: PrintScreen Sebian Chamber of Commerce/pks.rs)

The Serbian Chamber of Commerce said in a press release that a visit to Egypt by a Serbian business delegation accompanying Serbian Prime Minister Djuro Macut on an official visit included a business forum of Serbian and Egyptian business community members and some 30 bilateral meetings.

The forum was organized in cooperation between the Serbian Chamber of Commerce and the Federation of Egyptian Chambers of Commerce and is the second such event to have taken place in Cairo over the last year, the press release noted. The business forum took place with the PMs of Serbia and Egypt, Djuro Macut and Mostafa Madbouly, in attendance. The two PMs agreed that such events were a key instrument in deepening not just inter-country relations, but also concrete economic ties and economic cooperation.

Djordje Zivanovic, advisor to the head of the Serbian Chamber of Commerce, who led the Chamber delegation, stressed the strategic importance of the free trade agreement between the two countries that was soon to come into force. He emphasized that on the very day it comes into force, it would be possible to export almost 50 percent of agricultural products and 30 percent of industrial products from Serbia to Egypt tariff-free, while this liberalization would expand to 87 percent of agricultural products and 90 percent of industrial products over the next ten years.

It was emphasized that Egypt, as Africa's second largest economy, with a population of 111 million and strategic position, was a key partner to Serbia in entering the African and Middle Eastern market, while Serbia could serve as an entry point to the European market to Egyptian companies.