Serbia, with its 7.5 million inhabitants, has a growing industry for a few years. The service sector has been dominating Serbia’s economy since 2001 and accounts for more than half of the GDP. Belgrade is Serbia’s biggest centre for the private sector and of education, as well as the financial hub and the capital city. Many multinational companies are doing business here.
Since March, the Republic of Serbia was officially given the status of candidate for membership in the European Union. Serbia is a member of the Organisation of the Black Sea Economic Cooperation (BSEC) and of the Central European Free Trade Agreement (CEFTA). In addition, it holds free trade agreements with Turkey and Belarus and is the only European country outside the former Soviet Union to have a free trade agreement with Russia.
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