Romania, as the largest neighbouring country, is a significant foreign trade partner to the Republic of Serbia

>>>The Embassy of the Republic of Serbia in Bucharest has transmitted the essential parameters of the bilateral economic cooperation. We thank HE Mr. Branko Brankovic, Ambassador

Romania, as the largest neighbouring country, is a significant foreign trade partner to the Republic of Serbia. Bilateral trade is carried out according to the Interim Agreement on trade and trade-related matters between the European Community, of the one part, and the Republic of Serbia, of the other part.
According to the latest data obtained from the Statistical Office of the Republic of Serbia, in 2017, the total foreign trade in goods with Romania amounted to EUR 1.3 billion. In 2017, the total export was EUR 726 million, and on the list of the countries to which Serbia exports, Romania took the 5th position (4.8% in the total exports). In 2017, the total import amounted to EUR 570 million and Romania is ranked 9th in the total Serbian imports (2.9% in the total imports). In 2017, a surplus was achieved in the foreign trade with Romania in the amount of EUR 156 million, whereas the coverage of import by export was 127%.
Based on the latest available data of the Statistical Office of the Republic of Serbia, in the first six months of 2018, the total foreign trade in goods with Romania amounted to EUR 724.3 million. The total export in the observed period was EUR 424.2 million and in relation to the same period of the previous year it recorded an increase of 10.3 percentages. Romania is on the 5th place in the total exports of Serbia, with the share of 5.3%. The import in the first six months of this year amounted to EUR 300 million and recorded a rise of 12%, in comparison to the same period of the previous year. Romania is on the 9th position in the total Serbia’s imports. The imports/exports coverage amounted to 141.4%.
A continuous growth in trade exchange is led by a growth in Serbia’s export (except in 2017), while the import is at the same level. The record export was achieved in 2016 when it amounted to EUR 769.5 million. A decline in export recorded in 2017 was a result of the drought and a drop in the export of maize – the main export produce.
The leading Serbian products exported to Romania in the first six months of 2018 (CT 12) are: maize, other than seed maize; conductors of up to 80V; sets of conductors for ignition, other than sets for vehicles; wheat, other, spelt and meslin, other than for sowing; maize, other than seed maize for EU; bitumen from oil; methanol; electrical heating resistors; fuel for jet engines (kerosene). (source: RZS)
The leading products imported from Romania in the first six months of 2018 (CT 12) are: conductors, others, up to 80V; other parts for installation; gas oils; wires and cables: chipboards, paper impregnated; sets of conductors for ignition, sets for vehicles; strips, others TV in reels, of thickness 3mm – 4.75m; rapeseed cake and other solid residuals; machinery parts from the tariff code 8501 and 8501. (source: RZS)
The total number of economic subjects in Serbia realizing the foreign trade in goods with Romania is 2 751. The number of economic subjects only exporting to Romania is 760. The number of companies only importing from Romania amounts to 1 678, whereas a total of 313 companies are exporting and importing.
According to the data obtained from the Serbian Business Registers Agency, a total of 339 active companies have been registered in the territory of the Republic of Serbia that are in the ownership of Romanian citizens, i.e. legal entities registered in Romania. The greatest number of companies is registered with the following activities: Trade in motor vehicles (156); Professional, scientific, innovative and technical activities (31); Manufacturing industry (30); Administrative and service activities (28); Information and communication (28); Construction industry (19) Transport and storage (14); Accommodation and food services (8); Electricity, gas and steam supply (6); Water supply and waste water management (6)
The sectors that are perspective for a cooperation between Serbia and Romania are: trade, energy , transport (opening of border crossings, updating of the Road Transport Agreement), tourism (bilaterally and within the EU Danube Strategy) and cross-border cooperation. The sectors with traditional economic cooperation are: metalworking, machinery and chemical industry.
The most significant Serbian companies doing business in Romania or having their representative offices there are as follows: NIS Gazprom Nјeft (in the middle of 2011, it opened its representative office), Stada Hemofarm srl. (trade and distribution of pharmaceutical products), Alsa Bouitiques srl (clothing retail), Poolimark Food srl (trade and distribution of food products), Forma Ideale srl (trade and distribution of furniture), MK Commerce (trade and distribution of grains), Banat Road srl (construction of road infrastructure), Vino Zupa RO srl (trade and distribution of food products), Aretol (frozen fruit, vegetable, canned), Air Serbia (regular day flights between the two countries was reestablished at the end of 2013, the representative offices in Bucharest and Timisoara).
The largest investments of Romanian companies in Serbia are from the following sectors: Romanian company „La Fantana“ – food and beverage; TENDER S.A./TABAK - tobacco industry; Romanian factory “TeraSteel “, which operates within the Teraplast Group, opened a plant for the production of sandwich panels in Leskovac. (Source: Serbian Development Agency)
The most important interstate agreements, of importance for the development of bilateral economic relations: Encouraging and protecting investment (1996); Avoidance of double taxation (1996); Cooperation in the field of tourism (1997);Customs Cooperation and Mutual Administrative Assistance in Preventing Customs Offenses (2001); Exploitation and maintenance of HPP Djerdap 1 and HPP Djerdap 2 (1988/1998); Economic, scientific and technical cooperation (2008).

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The Romanian Business Journal
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