Doing Business in Serbia

The aims of the subject “Foreign Trade and Business in the Republic of Serbia” are the following:

1. To analyze the Serbian Economy and Global Trade;
2. To know the business opportunities in the Republic of Serbia;
3. To explore the Serbian trade relations with the country of the student;
4. To know the Serbian Trade Agreements;
5. To develop a business plan for the Serbian Market.

The Subject “Foreign Trade and Business in Serbia” belongs to the following Online Higher Educational Programs taught by EENI Global Business School:

Doctorate (DIB): European Business, World Trade.

Masters (MIB): International Business, Foreign Trade.

Learning materials in (or Serbia Serbie).

1. Credits: 1 ;
2. Duration: 1 week.

Serbian Preferential Access and Free Trade Agreements:

1. Serbia and the Orthodox Economic Area;
2. Central European Free Trade Agreement (CEFTA);
3. Central European Initiative (CEI);
4. Black Sea Economic Cooperation (BSEC);
5. Serbia-European Free Trade Association (EFTA) FTA;
6. Adriatic-Ionian Initiative;
7. Russia-Serbia Free Trade Agreement;
8. Turkey-Serbia Free Trade Agreement;
9. Serbia has a Free Trade Agreements with Belarus, Ukraine, and Kazakhstan;
10. Serbia has duty-free exports to the:
    1. European Union-Serbia
       1. EU-Western Balkans;
       2. European Union-Serbia Stabilization and Association Agreement;
       3. EU Enlargement.
    2. United States-Serbia.
11. Regional Cooperation Council (RCC);
12. Protocol Relating to Trade Negotiations Among Developing Countries (PTN);
13. Central American Integration System (SICA) (observer country).

1. World Trade Organization (WTO) (in process of accession);
2. World Customs Organization (WCO)
   1. Revised Kyoto Convention (RKC).
3. International Convention on the Harmonization of Frontier Controls of Goods (UNECE);
4. International Bureau of Containers and Intermodal Transport (BIC);
5. International Civil Aviation Organization (ICAO, Chicago Convention);
6. International Maritime Organization (IMO)
   1. International Convention for Safe Containers (CSC);
   2. Convention Relating to Temporary Admission (Istanbul Convention).
7. Customs Convention on Containers (CCC, UN);
8. International Road Transport Union (IRU)
   1. TIR Convention;
   2. Guidelines on Safe Load Securing for Road Transport.
9. Convention concerning International Carriage by Rail (COTIF);
10. Uniform Rules concerning the Contract of International Carriage of Goods by Rail (CIM, CIT).

European Trade and Economic Organizations:

1. Economic Commission for Europe (UNECE);
2. Organization for Security and Cooperation in Europe (OSCE).

Global Organizations:

1. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD);
   2. International Trade Centre (INTRACEN);
   3. World Intellectual Property Organization (WIPO).
2. World Bank (WB);
3. World Trade Organization (WTO);
4. International Monetary Fund (IMF);
5. Community of Portuguese Speaking Countries (observer country).

The Republic of Serbia

Serbia (Europe) is situated in the Balkan Peninsula, in one of the most important transport routes between the European Union and Asia.

1. The capital of Serbia is Belgrade;
2. The Autonomous provinces of Serbia are Vojvodina and Kosovo and Metohija;
3. The official language is Serbian, and the official alphabet is Cyrillic. However, the Latin alphabet is also in use;
4. Borders of Serbia: Bulgaria, Romania, Hungary, Croatia, Bosnia and Herzegovina, Montenegro, Albania, and Macedonia;
5. Serbian Population: 7.1 million people;
6. Serbian Area: 883,612 square kilometers;
7. Parliamentary Republic founded in 1992.

Religion: The majority of the Serbian population practices Orthodox Christianity

Serbia belongs to the Orthodox Economic Area.

Belgrade (1.6 million people) is the administrative, economic, and cultural centre of the Republic of Serbia.

1. Belgrade has been awarded as the city of the future for Southern Europe by the FDI Magazine;
2. More than 40% of the Serbian GDP is generated in Belgrade, which also has 31.4% of employed population in Serbia.

Serbian Economy

1. Serbia is an emerging market;
2. The Serbian market (7.5 million people) is the second largest in the South-eastern European region;
3. Serbia is the third most attractive manufacturing nation;
4. Serbia is the seventh most attractive foreign direct investment (FDI) destination for services among the emerging markets;
5. Since 2000, the Republic of Serbia has attracted 20 billion dollars in foreign direct investment (FDI);
6. In 2005, Serbia adopted the National Strategy for the European Union Accession (EU Enlargement);
7. Serbian Currency: Dinar (RSD);
8. Nominal Serbian GDP: 42,385 million dollars;
   1. Agriculture: 12%;
   2. Industry: 24%;
   3. Services: 64%.
9. Serbian GDP per capita: 10,540 USD;
10. Inflation: 6.8%.

(Foreign Trade and Business in Serbia):

International Trade of Serbia

1. Total Serbian international trade: 20 billion Euros;
2. The main export products from Serbia are iron and steel products, nonferrous metals, textiles, fruit, and metal manufacturing;
3. The largest Serbian export markets are the European Union, the Central European Free Trade Agreement (CEFTA) member states and the Central European Initiative (CEI) countries;
4. The main products imported from Serbia are fuels, vehicles, gas, iron and steel, and industrial machinery;
5. The largest Serbian suppliers are the European Union, countries of the Central European Initiative (CEI) and the countries of the Central Europe, the Free Trade Agreement (CEFTA);
6. Since 2000, Serbia has attracted large Foreign direct investment (FDI) flows.

Serbian Trade Agreements: CEFTA, Central European Initiative, Black Sea Economic Cooperation, EFTA, EU-Western Balkans...

(c) EENI Global Business School (1995-2023)
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