Ukraine and Serbia will resume work on concluding a free trade agreement

It is expected that the future Agreement will contribute to the growth of exports, improving the conditions for access of goods to the markets of Ukraine and Serbia.

This was reported by the Cabinet of Ministers.

On May 21, in Belgrade, Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine Taras Kachka and Minister of Internal and Foreign Trade 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 and the Terms of Reference for the negotiation process of this Agreement.

It is expected that the future Agreement will contribute to the growth of exports, improving the conditions for access of goods to the markets of Ukraine and Serbia, creating new jobs, exchanging experience and strengthening economic ties between the countries in various sectors.

Separately, the possibility of applying “diagonal cumulation” is envisaged – this will allow manufacturers of both countries 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.

“The work on concluding a 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 production chains. This will allow companies to combine the resources of different countries and at the same time maintain tariff preferences,” said Taras Kachka. “I would also like to note that the development of cooperation will allow for more effective use of the potential of the Danube as a strategic waterway and jointly develop regional logistics, which is important for both countries.”

In 2025, the volume of trade in goods between Ukraine and Serbia reached 439.3 million USD, which is 34.9% more than in 2024. Ukrainian exports to Serbia increased by 38.9% (to 175.6 million USD), and imports by 22.2%, to 263.8 million USD.

In 2025, Ukraine’s share in Serbia’s agricultural imports was 1.33%.

The main goods exported to Serbia are ores, slags and ash, iron and steel, seeds and fruits of oil plants, wood and wood products, cereals, edible fruits and nuts.

The main goods imported from Serbia are fertilizers, paper and cardboard, plastics and polymeric materials, rubber, as well as nuclear reactors, boilers and machinery.

USM previously reported that Hungary did not extend the ban on grain imports from Ukraine.