Serbia’s Sustainable Development Strategy and Industrial Policy for the European Union and the World Trade Organization

Abstract

Serbia is a Southeastern European country, located in the region which is nowadays commonly referred to as Western Balkan. The most important strategic goal of Serbia is membership in the European Union and the World Trade Organization. In a pursuit of accessions, national development strategy calls for sustainable growth and economic development, but some parts of Serbian economy are still in the transition from socialist heritage. Serbian industry is not able to meet requirements from contemporary global market and is still burdened with many challenges. This paper analyzes the structural adjustment of the industry and its impact on the macroeconomic balance, during the period of negotiation for the accession to the WTO and EU, and underlines a significant role of the state in this process.