Political relations between the Republic of Serbia and the Republic of Turkey are very intensive and substantial, as evidenced by the large number of exchanges of visits at higher and the highest level. During the visit of the President of the Republic of Turkey Recep Tayyip Erdoğan to the Republic of Serbia in October 2017, a Joint Political Declaration on the establishment of the High Council for Cooperation between the Republic of Serbia and the Republic of Turkey was signed, raising relations between the two countries. President Aleksandar Vučić paid a working visit to the Republic of Turkey in September 2020. The President of the Republic of Turkey, Recep Tayyip Erdoğan, paid an official visit to the Republic of Serbia in October 2019, and on that occasion, the second session of the High Cooperation Council was held. The President of the Grand National Assembly of Turkey Ismail Kahraman visited the Republic of Serbia on 23 October 2017.
In the last five years, Turkey has increased investments in Serbia, as well as the presence of its companies. In Serbia, in 2020, there were over 800 Turkish companies that employ about 10.000 people. According to the records of the National Bank of Serbia, the total net direct investments in money from Turkey in the period from 2010 – 2019 amount to 145.6 million euros, of which the most significant are investments in the textile sector. The purchase of the majority package of shares of Čačanska banka (76.74%) for 10.1 million euros in March 2015 by the Turkish Halkbank is also important. In 2019, trade reached a record 1,233 million. euros (of which Serbian exports amounted to 287.5 million euros, and imports 945.2 million euros), which is 5.1 times more than in 2009 (the year before the implementation of the Free Trade Agreement), which ranked Turkey as the 10th largest foreign trade partner of Serbia. Total trade in 2019 recorded growth of 13.7% driven by growth in both exports (+14.3%) and imports from Turkey (13.5%). In the period January - November 2020, trade amounted to 1.194.431 euros, Serbian exports amounted to 289.2 mil. euros, and imports 905.2 million euros.
The Republic of Serbia and the Republic of Turkey have signed 76 bilateral agreements, of which we single out:
Agreement between FRY and R. Turkey on cooperation in education, science, culture and sports, signed on: 14 April 2002;
Free Trade Agreement between the Republic of Serbia and the Republic of Turkey, signed on: 1 June 2009;
Agreement between the Government of the Republic of Serbia and the Government of the Republic of Turkey on economic cooperation, signed on: 26 October 2009;
Agreement between the Government of the Republic of Serbia and the Government of the Republic of Turkey on cooperation in the field of infrastructure projects, signed on 26 October 2009;
Joint Political Declaration on the Establishment of the High Council for Cooperation between the Republic of Serbia and the Republic of Turkey. Signed on 10 October 2017.
Embassy of the Republic of Serbia in Ankara: http://www.ankara.mfa.gov.rs/
Embassy of the Republic of Turkey in Belgrade: https://belgrad.be.mfa.gov.tr/Mission.
Department for Neighbouring Countries and Southeast Europe (DNCSE); tel. 00 381 (0) 11 30 68 280; e-mail: email@example.com.