Saudi Arabia and Serbia are intensifying their economic and diplomatic ties, with both nations keen on forging stronger collaborations across various sectors such as energy, technology, agriculture, and trade. Recent discussions between the two countries have highlighted potential joint ventures in energy projects, advancements in information and communications technology, and agricultural collaboration. Additionally, there is a mutual interest in expanding the presence of Serbian companies within the Saudi market and encouraging Saudi investments in Serbia.
In a significant diplomatic move, a meeting in Belgrade saw the signing of an agreement by Saudi Deputy Foreign Minister Waleed Elkhereiji and Serbian Foreign Minister Marko Duric to eliminate visa requirements for holders of diplomatic and official passports. This agreement is anticipated to simplify and encourage official exchanges between Saudi Arabia and Serbia, facilitating deeper diplomatic engagements.
Trade relations between the two nations have witnessed substantial growth. From a modest figure in 2012, bilateral trade surged to $121 million by 2025. The upward trend continued into the first half of 2026, with trade volumes reaching $130.4 million, marking a notable 152% increase over the same period in the previous year. This growth trajectory underscores the strengthening economic ties and the potential for further expansion in trade activities.
Looking forward, the upcoming EXPO 2027 in Belgrade and EXPO 2030 in Riyadh are poised to create additional platforms for investment, business collaborations, and the exchange of expertise. Saudi Arabia has already confirmed its participation in EXPO 2027, where it plans to highlight its economic progress, innovation, cultural richness, and investment opportunities.
Furthermore, both countries are investigating avenues for cooperation in science and technology, with Serbia preparing to have a significant presence at the Saudi Food exhibition in Jeddah, showcasing more than 50 companies. This participation underscores Serbia’s commitment to enhancing its profile and fostering partnerships within the Saudi Arabian market.