Iran attaché in Serbia sees $400m trade jump in two years
The commercial attaché of the Islamic Republic of Iran in Serbia, while enumerating the trade advantages of Iran and Serbia, predicted that trade between the two countries will increase to $300-400 million by the end of the Persian year 1405 (March 2027).
Faraz Chamani noted that while Serbia, with a population under 7 million, might not constitute a large market by itself, Iran attaches importance to the market due to its geopolitical position in Europe. The commercial attaché added that Serbia's trade infrastructure could serve as a commercial hub for Iran, IRNA reported.
Emphasizing that Serbia has 15 free trade zones, he clarified, "Companies established in the free zones can export their manufactured goods to the entire European Union with zero tariffs; moreover, Serbia is connected through free trade agreements with significant areas such as the European Union, the Eurasian Union, China, Turkey, Egypt, the United Arab Emirates, and Balkan region countries. This is while this country has not yet joined the European Union."
Mentioning that the dispatch of the Commercial Attaché of the Islamic Republic of Iran to Serbia in the year 1402 (beginning March 20, 2023) represented an effort by the Iranian side to develop trade with Serbia, Chamani stressed the establishment of Iranian production and export infrastructure in the European country.
According to the official, prior to the dispatch of the commercial attaché, the official trade volume of the two countries was around $29 million. He added, “However, we endeavored to develop trade grounds in this country by encouraging Iranian companies to establish and set up production lines or packaging workshops and export centers in Serbia. We also pursued conditions for company registration, introduction of attorneys, legal advisors, real estate advisors, and expert market consultants."
55.4% increase in trade volume
“By the end of the year 1403 (March 20, 2025), the trade volume of the two countries approached approximately $65 million, which appears to represent a 55.4% increase; it should be noted that the trade balance still remains positive for Iran.
The commercial attaché predicted, "By the end of the year 1405 (March 2027), we will be able to increase the trade volume between Iran and Serbia to $300-400 million."
Chamani, listing the most important export items from Iran to Serbia over the past year, stated, "Polystyrene, polyethylene, dates, pistachios, dried figs, fresh mangoes and pineapples, tobacco, bitumen, and petroleum products were the most important export goods, while phosphate fertilizers, industrial machinery, reactor equipment, grains, animal feed, seeds and saplings, non-organic chemical materials, wood, and some electrical and electronic equipment were the most important imports from Serbia."
"Concluding a free trade agreement between Iran and Serbia; establishing a center for the distribution and re-export of Iranian dates in Serbia; establishing a center for the distribution and re-export of Iranian petroleum and petrochemical products in Serbia; participation of merchants from both countries in exhibition events and exchange of trade delegations; activating private Serbian customs to facilitate and expedite the entry of Iranian goods into the market; creating grounds for cooperation between Iranian and Serbian contracting companies in joint projects; activating bus and air routes aimed at tourist exchange; establishing the first Iranian chain stores and restaurants in Serbia," are considered among the most important measures for developing trade between the two countries, he said.