The European Free Trade Agreement Serbia: What You Need to Know

Serbia, a country located in Southeast Europe, has been making strides in improving its economy and fostering better trade relations with other countries. A key development in this effort is the European Free Trade Agreement (EFTA) Serbia, which was signed in 2019 and is set to bring numerous benefits to the country.

What is the European Free Trade Agreement Serbia?

The European Free Trade Agreement (EFTA) is an intergovernmental trade organization established in 1960, consisting of four European countries: Norway, Switzerland, Iceland, and Liechtenstein. The EFTA aims to promote free trade and economic cooperation between its member states and with other countries.

In 2019, Serbia signed a free trade agreement with the EFTA, which eliminated customs duties on all industrial products and most agricultural products traded between Serbia and the EFTA member states. The agreement also covers trade in services, public procurement, and intellectual property rights.

What are the benefits of the EFTA Serbia?

The EFTA Serbia brings several benefits to the country, such as:

1. Increased trade: The agreement provides easier access to the EFTA market for Serbian exporters, enabling them to sell their goods and services without facing high tariffs and trade barriers.

2. Attracting foreign investments: As a result of the EFTA agreement, Serbia is expected to attract more foreign investment, as EFTA countries will view Serbia as a more stable and reliable business partner.

3. Strengthening economic ties: The agreement helps to strengthen economic ties between Serbia and EFTA countries, allowing for the exchange of ideas, technologies, and best practices.

4. Improving the business climate: The EFTA Serbia agreement provides a stable legal framework for businesses, which increases the predictability and transparency of trade relations, making it easier for companies to plan and invest.

5. Creating jobs: By improving trade relations and attracting foreign investment, the EFTA Serbia can help create new jobs and boost economic growth.


The EFTA Serbia is an important development for Serbia`s economy, allowing for improved trade relations with EFTA countries and providing numerous benefits for the country. The agreement is expected to help attract foreign investment, create new jobs, and strengthen economic ties, while also improving the business climate for Serbian companies. As Serbia continues to make progress in its economic development, the EFTA Serbia is likely to play a critical role in its success.