Traditional friendship, cultural, linguistic and religious similarity and closeness characterize Russian-Serbian relations. Russia is a strategic, political and economic partner, as well as one of the leading foreign trade partners of Serbia. Serbia was and to this day remains Russias key partner in South-Eastern Europe. However, are good political relations and an active political dialogue at the highest level accompanied by equally good economic cooperation? Which areas of the Serbian market are the ones that could use stronger presence of Russian companies and Russian capital, where are the unused hidden potentials? Are there any other areas Serbian economy has to offer for further developing and collaboration, besides the already traditional agricultural products export and construction services? Perhaps tourism and the auto industry?