Ukraine has renewed dialogue with Serbia regarding the formation of a free trade zone, as the volume of trade between the countries remains low. This was stated by Ukraine’s ambassador to Serbia, Oleksandr Lytvynenko, who noted that the introduction of the free trade zone would promote the activation of economic relations and would fit harmoniously into the process of European integration for both states.
This is reported by Finway
Trade Structure and Main Goods
According to official data from the Statistical Office of Serbia, in 2025, Serbian exports to Ukraine reached €179.6 million, imports from Ukraine amounted to €212.2 million, and the total trade volume reached €391.8 million. At the same time, Ukraine’s share in Serbia’s foreign trade is only about 0.5%, indicating a still limited scale of bilateral trade.
Currently, the list of goods exchanged between the countries remains quite narrow and is primarily focused on raw materials. Ukrainian exports to Serbia mainly consist of iron ore, black metals, timber and wood products, as well as plastics and polymer materials. Among the largest supply items in 2025 were iron ore at $61.6 million, hot-rolled iron products at $11.9 million, and iron semi-finished products at $8.92 million.
Serbia, in turn, supplies fertilizers, plastics, polymers, electrical machines, black metals, soap, and rubber products to Ukraine.
“According to him, the free trade zone could invigorate bilateral economic ties while organically fitting into the European integration of both countries.”
Prospects and Challenges for Economic Cooperation
Experts note that the creation of a free trade zone could stimulate the expansion of the range and volume of trade, especially in niches where the countries can offer each other competitive or scarce goods. For Ukraine, promising areas remain the supply of agricultural machinery, certain types of metal products, wood processing products, value-added food products, and niche consumer goods.
For Serbian exporters, the establishment of a free trade zone could open new opportunities in the Ukrainian market for fertilizers, polymers, electrical products, pharmaceuticals, rubber products, tires, and automotive components. Such developments could contribute to an increase in the share of processed products in the structure of mutual trade between both countries.
However, there are also certain challenges. One of the key issues remains Serbia’s status in the World Trade Organization. Serbia is still not a member of the WTO, as it has not adopted the necessary legislation regarding GMOs for membership and has not completed market access negotiations with several countries, including Ukraine, Brazil, Russia, and the USA.