The Comprehensive Economic Partnership Agreement between the UAE and Serbia came into force on Saturday, as the Emirates continues to strengthen its trade relations globally.
The UAE's 10th Cepa is expected to boost trade and investment flows, and remove or significantly reduce tariffs, which will all lay the foundations for enhanced co-operation across a spectrum of critical industries, the Ministry of Economy said in a statement on Saturday.
The deal is also leading to projections that bilateral trade between the two nations will contribute around $351 million to the UAE's gross domestic product by 2031, it added.
The UAE is Serbia’s leading trading partner in the Gulf, accounting for approximately 55 per cent of its total trade with the region in 2023, according to government data.
The UAE-Serbia Cepa is another "new chapter in our economic relations, creating new avenues for collaboration, investment and trade that will benefit both our nations", Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, said in the statement.
"Through this agreement we are committed to unlocking significant opportunities that will create jobs, strengthen supply chains and facilitate a thriving environment for businesses in both countries," he added.
Cepas that the UAE has already signed with nations from Colombia to Australia have contributed Dh135 billion ($36.8 billion) to the country's non-oil trade, an increase of 42 per cent compared with the previous year, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said previously.
The UAE's non-oil foreign trade hit a record Dh3 trillion last year − up 14.6 per cent year-on-year − as the country continues to diversify its economy and forges closer trade ties with countries around the world.
The Cepa programme is key for the UAE’s economic growth. The Arab world's second largest economy aims to boost its gross domestic product to $800 billion by 2030, with a target of more than $1.1 trillion in total non-oil trade by 2031.
Overall, the UAE has concluded 27 deals as part of the Cepa initiative. In 2025 alone, and counting Serbia's, the UAE has signed seven new deals with Malaysia, New Zealand, Kenya, Ukraine, Central African Republic, Costa Rica and Mauritius.
The UAE and the EU are also in discussions for a Cepa, with both sides moving closer to an agreement, Maros Sefcovic, EU Commissioner for Trade and Economic Security, told The National this week.
The UAE's Cepa with Serbia is projected to further boost non-oil trade between the two countries, which hit about $121.4 million in 2024, twice that compared to 2021 levels, according to government data.
Serbia is positioned as a key partner for the UAE, with its diverse economy and strategic location providing a vital gateway into Eastern Europe and the Balkans.
"The Cepa is expected to not only enhance trade but also increase private sector collaboration and promote investments in priority sectors such as renewable energy, agriculture, logistics and technology," the statement said.
The bilateral relationship has been further strengthened by increasing flows of FDI [foreign direct investment], which has been directed towards high-growth sectors, enhancing shared economic interests."
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
Director: Shady Ali
Cast: Boumi Fouad , Mohamed Tharout and Hisham Ismael
Rating: 3/5
Mohammed bin Zayed Majlis
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Mohammed bin Zayed Majlis
AUSTRALIA SQUAD
Tim Paine (captain), Sean Abbott, Pat Cummins, Cameron Green, Marcus Harris, Josh Hazlewood, Travis Head, Moises Henriques, Marnus Labuschagne, Nathan Lyon, Michael Neser, James Pattinson, Will Pucovski, Steve Smith, Mitchell Starc, Mitchell Swepson, Matthew Wade, David Warner
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Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
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The%20specs
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Match statistics
Dubai Sports City Eagles 8 Dubai Exiles 85
Eagles
Try: Bailey
Pen: Carey
Exiles
Tries: Botes 3, Sackmann 2, Fourie 2, Penalty, Walsh, Gairn, Crossley, Stubbs
Cons: Gerber 7
Pens: Gerber 3
Man of the match: Tomas Sackmann (Exiles)
Read more from Aya Iskandarani
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
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Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
Killing of Qassem Suleimani
Zayed Sustainability Prize
Zayed Sustainability Prize
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Mohammed bin Zayed Majlis
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
