The study is devoted to the question of economic independence of Serbia at the end of the 19th–the beginning of the 20th century. At the time Serbian economy and trade were deeply dependent on Austria-Hungary who was Serbia's main trade partner. Not able to export its goods through any other avenues Serbia strongly relied on Austria-Hungary not only as the main consumer of Serbian agricultural goods but also as a trade mediator between Serbia and the rest of Europe. At the same time such trade

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... elations were discriminative towards Serbia as Austria-Hungary often used Serbia's dependent position to reach her own economic and political goals. The beginning of the 20th century was marked by Serbia's attempts to break away from these disadvantageous ties and to find new trade partners and markets for her products.