Business news from Ukraine

Business news from Ukraine

New memorandum between Ukraine and Serbia could facilitate trade in agricultural products

8 August , 2026  

According to Serbian Economist, Ukraine and Serbia have agreed to expand cooperation in the areas of animal health and food safety, which could help remove veterinary and sanitary barriers to bilateral trade in agricultural products.

The relevant Memorandum of Understanding was signed on August 8 in Belgrade during Ukrainian President Volodymyr Zelenskyy’s official visit to Serbia.

The practical significance of the agreement for businesses may lie in the further harmonization of veterinary certificates, sanitary requirements, and control procedures necessary for the supply of food products and products of animal and plant origin between the two countries.

Serbia is interested in increasing imports from Ukraine of soybeans, soybean meal, flaxseed, and other agricultural products. Serbian companies, in turn, are exploring opportunities to increase shipments to the Ukrainian market of seeds, fruit tree seedlings, baby food, and other products.

The signing of the document coincided with the resumption of negotiations between Ukraine and Serbia on the creation of a free trade area.

In May 2026, the parties officially resumed negotiations on the relevant agreement after a long hiatus. Ukraine currently remains the only European country with which Serbia does not have a free trade agreement.

In 2025, trade between the two countries totaled approximately $442 million. Serbia exported about $203 million worth of goods to Ukraine, while Ukraine exported $239 million worth to Serbia.

Already in the first quarter of 2026, bilateral trade reached $152.8 million, with Serbian exports to Ukraine accelerating significantly.

The combination of the future free trade agreement and the simplification of veterinary and sanitary procedures has the potential to significantly expand the range of goods traded between Ukraine and Serbia.

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