Serbia and Ukraine pledge closer economic ties, eye free trade deal | Business and Economy News

Serbia and Ukraine have agreed to deepen financial cooperation, with each side pledging to finalise a long-stalled free commerce settlement by the top of the yr as Serbian President Aleksandar Vucic hosted his Ukrainian counterpart, Volodymyr Zelenskyy, in Belgrade.

The dedication got here on the ultimate day of a two-day go to that concluded on Saturday, Zelenskyy’s first to Serbia since taking workplace in 2019. The 2 leaders have met a number of occasions beforehand, most just lately in Kyiv on July 15.

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Talking at a joint information convention, Vucic stated Serbia would help Ukraine’s bid to hitch the European Union and preserve its help for Ukraine’s territorial integrity, together with territories seized by Russia since 2014.

Belgrade has, nevertheless, refused to impose sanctions on Russia, its longtime ally.

Ukraine, for its half, has not recognised Kosovo’s 2008 declaration of independence. Serbia considers Kosovo a part of its territory.

“You could have by no means heard a single unhealthy phrase about our nation, neither from Volodymyr Zelenskyy nor anybody else [in Ukraine], and I’m extraordinarily grateful to our Ukrainian mates for that,” Vucic stated.

“Our cooperation is increasing and can develop into a lot larger,” he informed reporters, including that Serbia would assist rebuild Ukrainian cities broken by Russia’s invasion.

Serbian President Aleksandar Vucic speaks during a press conference with Ukrainian President Volodymyr Zelenskiy (not pictured) during Zelenskiy's visit to Belgrade, Serbia, August 8, 2026. REUTERS/Marko Djurica
Serbian President Aleksandar Vucic speaks throughout a information convention throughout Zelenskyy’s go to to Belgrade, Serbia [Marko Djurica/Reuters]

Lengthy-delayed free commerce settlement

The proposed free commerce settlement has been below dialogue for greater than twenty years, with each nations now aiming to finish a deal by the top of the yr.

The settlement is essential to Serbia’s bid to hitch the World Commerce Group and is a prerequisite for its EU membership. Ukraine has blocked a deal since 2005 over quotas and tariffs affecting its agricultural sector.

Each leaders pointed to progress on the settlement as an indication of strengthening financial ties, alongside Serbian commitments to supply humanitarian support and infrastructure and vitality help to Ukraine this winter.

Zelenskyy stated the 2 leaders had mentioned joint infrastructure tasks in addition to cooperation on vitality and meals safety earlier than the winter, saying that “nearly not a single thermal power plant stays intact” in Ukraine due to Russian strikes.

He stated Russian attacks had additionally broken railway stations, hospitals, universities and civilian companies, and thanked Serbia for getting ready a brand new humanitarian support package deal centered significantly on the medical and vitality sectors.

“We’re creating all codecs of cooperation which can provide our individuals … extra resilience,” Zelenskyy stated.

In a submit on X on Saturday, Zelenskyy stated he additionally mentioned financial and logistics tasks with Serbian Prime Minister Duro Macut, together with the Danube Hall and nearer hyperlinks between Ukraine, the Western Balkans and the EU.

Zelenskyy thanked Serbia for pledging 2 million euros ($2.3m) to help Ukraine’s vitality sector.

The 2 nations additionally signed a memorandum on animal well being and meals security, in line with the Kyiv Put up. The settlement was signed by Serbia’s Agriculture Minister Dragan Glamocic and Ukraine’s ambassador to Serbia, Oleksandr Lytvynenko.

Serbia balances EU ambitions and Russia ties

Vucic expressed doubts that both Serbia or Ukraine would safe speedy EU membership.

“I want Ukraine each success, however this isn’t only a merit-based course of,” he stated, noting that the bloc has not admitted a brand new member since Croatia joined in 2013.

He additionally warned that he didn’t count on the warfare in Ukraine to finish quickly.

“I’m very afraid that we’re in for a really tough winter – particularly for Ukrainians,” Vucic stated, in line with the Kyiv Put up.

Belgrade had condemned Russia’s full-scale invasion of Ukraine in 2022 and has supported Ukraine’s territorial integrity, nevertheless it has resisted becoming a member of Western sanctions towards Moscow. Serbia additionally stays depending on Russia for many of its fuel.

On the identical time, Serbia has sought to scale back a few of its army dependence on Russia, together with via an settlement to switch its ageing Soviet-era MiG-29 fighter jets with French Rafale plane.

The Kremlin has repeatedly accused Serbia of selling ammunition that finally reached Ukraine via intermediaries. Belgrade has denied supplying ammunition to Ukraine, however has stated it sells ammunition to consumers world wide.

Vucic and Zelenskyy stated army cooperation was not mentioned through the go to.

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