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COOPERATION
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by Mina Vučić
SERBIA MERGING WITH THE MIDDLE EAST
Economic cooperation and support between the Republic of Serbia and the United Arab Emirates has never been better
he United Arab Emirates is an open economy characterized by its high value of GDP per capita and a large surplus. Thanks to the government's efforts, economic diversification has reduced the economy's reliance on oil and gas, which today accounts for only 25% of total GDP, with a shift in the economy to aluminium production, tourism, telecommunications, information technology and renewable energy. Economic cooperation between the Republic of Serbia and the United Arab Emirates, according to the avail-
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SERBIAN COMPANIES PARTICIPATED IN THE INTERNATIONAL FOOD FAIR NAMED GULFOOD 2020, ORGANIZED BY THE SERBIAN CHAMBER OF COMMERCE AND THE SERBIAN DEVELOPMENT AGENCY
THE UNITED ARAB EMIRATES 2021
able data from the Republic Bureau of Statistics, states that in the period between January-December 2019, the total foreign trade exchange with the UAE amounted to 162.9 million dollars. During this period, Serbia exported goods worth 135 million dollars to the UAE, and imported goods worth 27.9 million dollars. As of November 2020, trade in goods decreased by 23.6%, compared to the same period in 2019, while exports decreased by 27.27% compared to 2019. Products that have the high potential for export to this market include: automatic circuit breakers for voltag-
