For Austrian companies, Serbia is close geographically but a third country legally. Anyone who treats the market like another EU neighbour should expect delays and extra costs.
Serbia is a candidate for accession, but not a member of the European Union. Movement of goods, standards, residence law and employment law therefore follow their own rules. At the same time, the legal framework is gradually aligning with European standards in many areas. Conditions may therefore change.
Those who allow for this will find a market with qualified specialists, competitive cost structures and a considerable need for modernisation in infrastructure, energy and industry.