Serbia Adopts New Trade Law

The Serbian parliament adopted a new Trade Law on July 28, 2010, which will enter into force on January 1, 2011. The new law is based on the free trade principle and is meant to prevent unfair competition while improving protection of consumers and goods on the Serbian market.

The new law requires that all retailers possess adequate customs documents, such as an invoice and a customs declaration, for the goods they wish to import and sell. Lack of such documents indicates that the goods might be counterfeit. Retailers also have to keep records of the purchase, the retail price and the transportation of goods, as it could serve as evidence of trademark use in cancellation actions.

If a retailer wants to appeal a trade inspector’s decision, the appeal cannot postpone the execution of the decision, which was previously possible.

According to the new law, all products must have a declaration with clearly indicated name, type, content and amount of product. The declaration can be in more than one language with the logo, trademark or bar code on it.

The new Trade Law improves the definition of unfair competition by stating that the sale of goods whose brand, shape or look and feel mislead consumers into believing that they are purchasing an original constitutes unfair competition.

For more information contact Tijana Lazic or Ivan Matic at our Balkan Regional Office.