Saudi Arabia and Serbia are forging stronger economic and diplomatic ties, with both nations keen on expanding their collaboration across various sectors such as energy, technology, agriculture, food industries, and trade. Recent discussions between the two countries have centered on joint energy ventures, advancements in information and communications technology, and agricultural partnerships. Efforts are also underway to enhance the presence of Serbian companies in the Saudi market while simultaneously encouraging Saudi investments in Serbia.
In a significant diplomatic move, Saudi Deputy Foreign Minister Waleed Elkhereiji and Serbian Foreign Minister Marko Duric met in Belgrade to sign an agreement that waives visa requirements for holders of diplomatic and official passports. This agreement aims to simplify and promote official exchanges between the two nations. The momentum in trade relations has been remarkable, with bilateral trade soaring to $121 million by 2025, a substantial increase from the figures recorded in 2012. In the first half of 2026 alone, trade reached $130.4 million, marking a 152% rise compared to the same period the previous year.
The forthcoming EXPO 2027 in Belgrade and EXPO 2030 in Riyadh are poised to further enhance investment prospects, foster business partnerships, and facilitate the sharing of expertise. Saudi Arabia has already committed to participating in EXPO 2027, where it intends to highlight its economic advancements, innovations, cultural heritage, and investment opportunities.
Beyond trade and diplomatic agreements, both countries are actively exploring cooperation in the fields of science and technology. Serbia, on its part, is preparing to engage with the Saudi market by participating in the Saudi Food exhibition in Jeddah, where it plans to feature more than 50 companies. This collaboration reflects a shared intent to deepen economic ties and explore new avenues for mutual growth.