India & Serbia agree to set bilateral trade of 1 Billion Euros
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.
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.
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.
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
President: Aleksandar Vučić
Currency: Serbian dinar (RSD)
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