The idea of this book is to analyse the current presence of Serbian institutions established in European Union member countries. The work is divided in two parts. The first part covers the background of Serbian relations with the European Union and its prospective for EU integrations, Serbia's regional initiatives within the EU and representation of the most important Serbia's institutions in the EU, both in political and economic terms. The second part of the work covers Serbia's relations with Italy. Having in mind that Italy is an integral part of Europe and one of the European Union's founders and considering its growing presence in Serbia. The scope of the second part encompasses certain political, economic aspects and strategic value of their cooperation through activities of distinguished institutions operating trade, industrial and cultural activities. In the end, the results of analysis are formulated as remarks recommended for improvements of Serbia's institutional presence in EU member states, cooperation among countries, with a special focus on influence of the global crisis on Serbia and its strategic partners (EU and Italy).