Serbia is not a WTO member, but it has made strides to bring practices closer to conformity with WTO requirements. It has tackled some tariff and non-tariff barriers, including eliminating import quotas, reducing import licensing and prohibitions, and streamlining customs procedures. However, barriers remain, largely in the form of high tariffs for some U.S. products relative to European competitors, lack of transparency and best value considerations in public procurement, and frequent implementation of legislative and regulatory measures without proper impact analysis and private sector consultation.

The legal basis for the foreign trade of goods in Serbia is defined by the Law on Foreign Trade Transactions (FTT), the Law on Customs, the Law on Customs Tariffs, and the Decision on Determining Goods which require the Submission of Specific Documents for Import, Export, and Transit.

The FTT generally does not limit foreign trade. Once registered to perform business activities, a legal entity/entrepreneur may perform foreign as well as domestic operations. No special approval or procedure is required for re-export transactions, except for goods subject to other regulations such as weapons, ammunition, and dual-use goods.