Importing and Exporting in Serbia
Importing and Exporting in SerbiaUpdated on Sunday 19th August 2018
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The trading sector in Serbia works on the principle of free trading with a large number of countries worldwide, and it sustains the economy and the GDP (gross domestic product) of this state. Russia, Germany, Romania, Bulgaria, Hungary, and China are only a few of the countries that have trading businesses with Serbia. If you are a foreign investor who wants to set up a company in the import & export sector and need legal support, we invite you to address your inquiries to our team of lawyers in Serbia.
What are the products exported by Serbia?
Serbia is an important exporter of iron and steel, fruits and vegetables, rubber, metal products, clothes, and automobiles. The following category of products are exported by Serbia at a large scale:
- • machinery and computer elements – around 6.7% rate take the road of the export;
- • rubber, rubber products, iron and steel, nuts and fruits are exported by Serbia;
- • vehicles, electrical machinery, and equipment are products exported by Serbia worldwide;
- • steel, iron, copper, furniture, and plastic products take the international road.
Products imported by Serbia
Germany, Italy, Hungary, Russia, Romania, France, Slovenia, Turkey, Poland, and Austria are important trading partners from which Serbia imports electronic equipment, pharmaceuticals, clothing items, tobacco, paper, leather, plastics, aluminum, chemicals, mineral fuels, machinery, wood, seed oils, iron, and steel. In terms of numbers, Germany is Serbia's main import partner, summing up approximately $2.8 billion of the imported goods. Italy is the second trade partner for Serbia, with imports worth around $2.2 billion. As for China, this is the third import partner for Serbia with $1.8 billion worth products that enter this country. We invite you to talk to our Serbian attorneys for legal support if you want to start a business in Serbia as a foreign investor.
EU requirements for Serbia’s trading sector
In matters of import and export activities, Serbia respects the EU legislation and the documentation regarding the customs tariff. Binding Tarif Information regarding the category of products, the Decisions on Tariff Classification as established by the World Customs Organization and the Decisions on Tariff Classification are part of the EU nomenclature which applies to Serbia in the import and export sector. It is good to know that importing specific goods like military equipment, hunting and sports arms are subject to varied licenses in respect to the international laws and agreements.
Foreign investors can easily register a company in Serbia and start the activities in the trading sector. Please feel free to contact our team of lawyers in Serbia and address your inquiries about how you can start a business in Serbia with respect to the legal requirements.