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Serbia business conditions have improved considerably since the fall of Slobodan Milošević and the end of Yugoslavia’s international isolation. Factors favorable to Serbia’s economic growth include a strategic location in the middle of the Balkans, a relatively inexpensive and skilled labor force, a generous package of incentives for foreign investment, and free trade agreements with the EU, Russia, Turkey, and CEFTA countries. Serbia’s primary industries include iron and steel, nonferrous metals, machinery, furniture, sugar, rubber tires, electric appliances, apparel, chemicals, pharmaceuticals, weapons and ammunition. The nation also has a significant food products industry. Key Serbian agricultural products include wheat, corn, sugar beets, sunflower, raspberries, milk, beef and pork. Challenges (and/or opportunities) facing Serbia business ventures include a large trade deficit, rising public debt, high unemployment rates, high levels of corruption, an inefficient judicial system, and an aging population.

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