Ukraine and Serbia have agreed to resume work on concluding Free Trade Agreement
On May 21, 2026, in Belgrade, Serbia, Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine, Taras Kachka, and the Minister of Domestic and Foreign Trade of the Republic of Serbia, Jagoda Lazarević, signed a Joint Statement on the resumption of negotiations on the conclusion of a Free Trade Agreement between the Governments of Ukraine and the Republic of Serbia, as well as the Technical Specifications for the negotiation process regarding this Agreement.
The future Agreement is expected to promote export growth, improve market access conditions for goods in Ukraine and Serbia, create new jobs, facilitate the exchange of expertise, and strengthen economic ties between the countries across various sectors.
Separately, the possibility of applying diagonal cumulation is envisaged, whereby producers in both countries will be free to use raw materials and components from countries with which free trade agreements have been concluded and which are parties to the Convention on Pan-Euro-Mediterranean Preferential Rules of Origin without losing preferential origin status.
“The work on concluding the Free Trade Agreement is an important stage in the development of Ukrainian-Serbian relations and will contribute to a significant deepening of bilateral trade and industrial integration. The importance of the future Agreement lies not only in opening markets for goods but also in creating regional supply chains. This will allow companies to pool resources from different countries while maintaining tariff preferences,” said Taras Kachka. “I would also like to note that strengthening cooperation will enable us to more effectively harness the potential of the Danube as a strategic waterway and jointly develop regional logistics, which is important for both countries.”
Background information
In 2025, the volume of trade in goods between Ukraine and Serbia reached USD 439.3 million, which is 34.9% more than in 2024. Ukrainian exports to Serbia grew by 38.9% to USD 175.6 million, while imports increased by 22.2% to USD 263.8 million.
In 2025, Ukraine’s share of Serbia’s agricultural imports was 1.33%.
The main goods exported to Serbia are ores, slag, and ash; iron and steel; seeds and fruits of oil plants; wood and wood products; grains; and edible fruits and nuts.
The main goods imported from Serbia are fertilizers, paper and cardboard, plastics and polymer materials, rubber, as well as nuclear reactors, boilers, and machinery.