Azerbaijan & Serbia sign trade deal

The Azerbaijani National Confederation of Organizations of Entrepreneurs (Employers) (ASK) and the Serbian Chamber of Commerce and Industry have signed an agreement on mutual understanding and cooperation, Azernews reports.

The purpose of the agreement is to expand the prospects for cooperation with business circles operating in Serbia and increase the export-import potential of business entities and investments in both countries.

In keeping with the agreement, it is planned to conduct joint business missions of the ASK and the Chamber of Commerce, exhibitions and business forums, and joint implementation of projects, as well as the study of best practices through the exchange of information and specialists.

“In order to increase the export and investment potential of our country, as well as expand economic ties in accordance with the ASK's priorities for external relations, we continue to expand cooperation with business support organizations existing in other countries,” the ASK said in a report on the website.

Azerbaijan and Serbia cooperate in a variety of economic sectors. The Azerbaijan-Serbia Declaration on Strategic Partnership, signed in 2013, and the Joint Action Plan on Strategic Partnership, signed in 2018, laid the groundwork for developing relations.

The trade turnover between Azerbaijan and Serbia amounted to $10.3 million in January-November 2022.