Dubai Chambers Explore Strengthening Economic Ties with Serbia

Dubai's business community is strengthening ties with Serbia as 83 new Serbian companies joined Dubai Chamber of Commerce in the first nine months of 2024. The move comes as trade between the two regions jumped 44% this year, reaching 336 million dirhams in non-oil trade.

Dubai Chamber organized a roundtable discussion with Serbia's Chamber of Commerce and Industry to explore new business partnerships. The meeting brought together Mohammed Ali Rashid Lootah, Director General of Dubai Chambers, Stefan Niksevic, Serbia's State Secretary for Foreign and Internal Trade, and Vladimir Maric, Serbia's Ambassador to the UAE.

The numbers show growing Serbian interest in Dubai's market. Total Serbian companies registered with Dubai Chamber now stands at 293 as of September 2024. This represents a significant increase from previous years and signals Dubai's appeal as a business hub for Balkan companies looking to expand into Middle Eastern and Asian markets.

Lootah emphasized Dubai's role as a global economic hub. "We continue to strengthen our position as a pivotal center on the global economy map through building productive partnerships with countries worldwide, particularly Serbia," he said. The focus remains on creating sustainable opportunities for business communities while achieving shared development goals.

The discussions covered key sectors where both regions see potential for growth. Construction, energy, information technology, agri-food, healthcare, trade, fintech, industrial automation, and transportation topped the agenda. These sectors align with both Dubai's economic diversification strategy and Serbia's push to modernize its economy.

For investors and businesses, this partnership opens doors in both directions. Serbian companies gain access to Dubai's strategic location as a gateway to Asia, Africa, and the broader Middle East. Meanwhile, Dubai-based businesses can explore opportunities in Serbia's growing economy and its connections to European markets.

The 44% trade growth in 2024 suggests momentum is building. As both regions work to expand beyond traditional sectors, the focus on technology and innovation could drive even stronger ties in coming years.