Business news | Serbia and Egypt concur to increase cooperation amid the conflict in Ukraine.

Business news | Serbia and Egypt concur to increase cooperation amid the conflict in Ukraine.

As the two nations seek solutions to deal with the worldwide repercussions of Russia’s invasion of Ukraine, Egypt and Serbia have decided to intensify their political, economic, and other forms of cooperation.

Serbia’s BELGRAD (AP) — On Wednesday, Egypt and Serbia decided to expand their political, economic, and other forms of collaboration as they search for solutions to the worldwide effects of Russia’s invasion of Ukraine.

The first visit by an Egyptian president to Serbia in more than three decades was made this week by Abdel-Fattah el-Sissi, the president of Egypt. Aleksandar Vucic, the president of Serbia, described the visit as having a “historic character.”

At a joint press conference with Sissi, Vucic stated, “It will bring so much in the future.” “This is just the start.”

In addition to announcing preparations for a free trade agreement by the end of the year, Vucic presented el-Sissi with a state decoration and the two leaders signed a partnership declaration. As authorities sealed several agreements centered on potential areas of collaboration, a business roundtable was held.

El-Sissi stated that “both of our countries should work together for improved economies in respect to the global events.” Egypt anticipates greater cooperation in all areas.

Serbia, according to Vucic, would send grain, particularly wheat, to Egypt, which has been severely impacted by the price increases brought on by the conflict in Ukraine. A significant portion of Egypt’s imports of wheat come from Ukrainian ports that are currently closed.

Serbia, a country that is applying to join the European Union, has resisted joining Western sanctions against Russia and has kept cordial ties with Moscow throughout the conflict. Both leaders claimed that one of the issues covered at their discussion on Wednesday was the conflict in Ukraine.

El-Sissi met with U.S. President Joe Biden in Saudi Arabia last week. “Egypt is a country that aspires to see everything addressed peacefully and via agreements,” he added.

During their news conference, El-Sissi and Vucic both referred to the long-standing connections between Cairo and Belgrade as founding members of the Non-Aligned Movement of countries outside the opposing blocs during the Cold War.

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