India & Serbia agree to set bilateral trade of 1 Billion Euros

Tags: International Relations International News

President Droupadi Murmu and her Serbian counterpart Aleksandar Vucic on 8 June in Belgrade agreed to set a target for bilateral trade from the present 320 million euros to one billion euros by the end of the decade.

An overview of the news

• President Draupadi Murmu is on a three-day state visit to Serbia from June 7 to 9.

• During the visit, President Draupadi Murmu highlighted that the relations between the two sides have a shared understanding of each other's core interests.

• In a joint press statement, President Murmu highlighted the positive outcomes of the delegation-level talks and the resolve of the two countries to work on diverse areas of potential cooperation.

Official talks

• President Murmu's official engagements in Serbia included a guard of honor at the Serbia Palace, restricted-level talks, delegation-level talks, a joint media address, and a business event. 

• These engagements aimed to foster closer ties and explore opportunities for collaboration between the two nations.

• During the bilateral interactions, both leaders emphasized their commitment to the rule of law, respect for sovereignty, and territorial integrity of nations.

Fraternal Relations

• President Vucic described Serbia's relationship with India as a fraternity, emphasizing the strong bond between the two countries. 

• He expressed that India should consider Serbia as a second motherland, underscoring the warmth and depth of their bilateral ties.

Areas of Cooperation

• President Vucic identified six major areas of cooperation between India and Serbia, including defense and military technology cooperation, pharmaceuticals, agriculture, industrial cooperation, information technology, and cultural cooperation, including film production. 

• These areas present potential avenues for collaboration and mutual benefits.

About Serbia

• Serbia is a landlocked country in the west-central Balkans. For most of the 20th century, it was a part of Yugoslavia.

• Prime Minister: Ana Brnabic

• Capital: Belgrade

• President: Aleksandar Vučić

• Currency: Serbian dinar (RSD)