Towards the end of Q1 2025, the citizens of Zrenjanin will gain access to safe, clean water, marking a significant milestone in improving the wellbeing of the community and setting a benchmark for sustainable water management around the region ~ Ahmed Hatem Almenhali
Over past decades, bilateral cooperation between UAE and Serbia, “especially in the economic sector, has witnessed remarkable progress and growth,” says Ambassador Ahmed Almenhali in this interview for CorD Magazine. He adds that one of his primary intentions during this mission is “to showcase the potential of the Serbian market to Emirati businesses”. Bilateral economic cooperations should also be strengthened by the Comprehensive Economic Partnership Agreement (CEPA), the implementation of which is expected in 2025.
Your Excellency, during the celebration of your country’s national holiday in December 2024, you spoke about the strong relations and exceptional strategic partnership between the UAE and Serbia. What do you consider as the most important component of this partnership today?
— For many years, the United Arab Emirates and the Republic of Serbia have committed to fostering their bilateral relations. Both sides enhance economic and political ties through a strategic approach, while promoting mutual cultural and social values.
We can today affirm proudly that friendly relations between our two nations’ leaderships are at an all-time high, resulting in highly successful bilateral cooperation. This collaboration has witnessed remarkable progress and growth over the past decade, especially in the economic sector. We have seen substantial advances in institutional cooperation through numerous successfully implemented investment and trade projects.
We have signed several bilateral agreements that create opportunities to further strengthen our relations. One of the most important agreements is the CEPA that was signed during last year’s official visit to Serbia of the UAE President, His Highness Sheikh Mohamed bin Zayed Al Nahyan.
What can we expect from the CEPA that was signed between the UAE and Serbia in October 2024?
— The Comprehensive Economic Partnership Agreement (CEPA) that we signed in October 2024 demonstrates the strength of economic relations and mutual trust between our countries.
A key aspect of this agreement is the reciprocal liberalisation of trade in goods, which I believe will encourage businesspeople to capitalise on these incentives and actively explore opportunities on both markets.
We at the embassy are working diligently to provide comprehensive information to assist businesspeople from both countries in realising their business ideas and navigating any challenges they may face
We expect the CEPA to ultimately spark a wave of economic opportunities built around digital and traditional trade. Goods traded by sea, land and air will enjoy faster, easier access, while unlocking the untapped potential of digital trade, cross-border data flows and blockchain.
Both sides should ratify the agreement soon, leading to its implementation later in 2025. I am confident that our current trade exchange will grow and include many more participants in foreign trade within our business communities.
Economic statistics show that the UAE is an important creditor of the Serbian economy, but that the volume of direct UAE investments in Serbia has been decreasing for years. Do you think that, in your capacity as ambassador to Serbia, you can increase the interest of UAE companies in business ventures in Serbia?
— Interest in investment projects in Serbia has remained strong throughout all these years, with companies from the United Arab Emirates actively exploring opportunities for further outlay.
One of my primary intentions during this mission is to showcase the potential of the Serbian market to Emirati businesses. Similarly, I promote investment opportunities and an attractive business environment in the UAE and highlight the Emirati market’s potential for Serbian entrepreneurs.
Additionally, we at the embassy are working diligently to provide comprehensive information to assist businesspeople from both countries in realising their business ideas and navigating any challenges they may face.
You have stated that you hope to improve bilateral cooperation in areas like renewable energy, agriculture and tourism. Can we speak at this point about any specific projects in these fields?
— The UAE has made significant strides in enhancing bilateral cooperation with Serbia, particularly in renewable energy and agriculture.
In the renewable energy sector, Masdar inaugurated the Čibuk 1 wind farm in October 2019, which represents the largest operating utility-scale wind project in Serbia and the Western Balkans, with a capacity of 158 megawatts (MW).
Building on this success, Masdar secured funding for the 154 MW Čibuk 2 wind farm in September 2024 and is currently progressing on the construction of the wind farm that is set to become operational in 2026 as well as the development of both solar and wind projects in the country, further solidifying the UAE’s commitment to Serbia’s clean energy transition.
Based on our experience organising Expo 2020, Serbia stands to gain numerous benefits from the Specialised Expo 2027 project
In the agriculture sector, the Al Dahra Group has made substantial investments in Serbia since 2018. This company acquired the agricultural assets of the PKB Corporation and its subsidiaries for approximately €150 million, while it has additionally invested approximately €100 million in Al Dahra Serbia to upgrade the assets and improve performance.
Al Dahra Serbia currently cultivates more than 20,000 hectares, producing a range of grains and speciality crops, in addition to the dairy business. Al Dahra Group is exploring further expansion opportunities globally, including in Serbia.
The investments made by the Al Dahra Group not only strengthen our bilateral ties, but also contribute significantly to Serbia’s agriculture sector and food security efforts.
The Serbian government is launching a new investment cycle linked to Expo 2027, with great ambition. Do you see this as an opportunity for UAE companies?
— Based on our experience organising Expo 2020, Serbia stands to gain numerous benefits from the Specialised Expo 2027 project.
Events of this nature contribute significantly to a country’s economic growth and development. Hosting an expo presents an excellent opportunity for investment partnerships with nations across the globe.
All industries involved in such a project inevitably experience integration and the adoption of new technologies and modern solutions, which further strengthens the host country’s economy.
The experiences of project partners provide valuable lessons and insights. I am confident that companies from the UAE that participated in Expo 2020 will have much to offer Serbia for this initiative.
This major undertaking creates countless opportunities for collaboration between our two countries in infrastructure, real estate development and tourism in particular.
The completion of one project associated with the UAE is eagerly awaited: the water treatment plant in Zrenjanin, which is managed by UAE company Metito. What is the current status of works at this location?
— Metito Utilities, a UAE-based investor, developer, operator of sustainable water management solutions and climate-resilient assets, remains fully committed to delivering a sustainable solution to this long-standing issue.
We expect this project to improve the lives of the Zrenjanin community significantly and to impact Serbia’s water sector positively.
Serbia is the first market in Central and Southeast Europe where Metito Utilities has invested more than €50 million. This reflects the country’s strategic location, progressive leadership, skilled workforce and stable economy, creating a favourable environment for sustainable growth.
The project leverages global expertise and advanced technologies to deliver clean, safe drinking water.
Towards the end of Q1 2025, citizens of Zrenjanin will gain access to safe, clean water, marking a significant milestone in improving the wellbeing of the community and setting a benchmark for sustainable water management around the region.
| CEPA We expect the CEPA to ultimately spark a wave of economic opportunities built around digital and traditional trade | TRADE I am confident that our current trade exchange will grow and include many more participants in foreign trade within our business communities | POTENTIAL One of my primary intentions during this mission is to showcase the potential of the Serbian market to Emirati businesses |
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