FLASH
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The leaders of the Western Balkans have come together today in Tirana to discuss the implementation of the Economic Growth Plan for the 6 countries of the region.
The EU plan for the Western Balkans aims at the economic growth of the region, the acceleration of appropriate reforms and the making of investments that can advance the process of EU enlargement with these countries.
We recall that an EU-Western Balkans summit for this plan was held on January 22 in Skopje, North Macedonia.
But what is this plan?
The new plan for economic growth in the countries of the Western Balkans, approved by the European Commission on November 8, 2023, is based on four pillars.
The first pillar is "strengthening economic integration in the EU's single market".
This will depend on the adaptation of the countries of the region to the rules of the single market and, in parallel, the opening of their market in the relevant sectors to the neighboring countries.
The second pillar of this plan is "strengthening economic integration within the Western Balkans through the common regional market".
This, according to the experience of the EU, will affect a potential economic growth of 10 percent.
The third pillar of this plan is "acceleration of fundamental reforms". This also means the rule of law, which also helps attract foreign direct investment and strengthens regional stability.
The fourth pillar of the European Commission's new plan for economic growth in the Western Balkans is "increasing financial assistance to support reforms". This includes the proposal for 6 billion euros in aid.
The countries of the region in their trade relations with the European Union also benefit from the relevant Stabilization-Association Agreements, the EC proposes to go beyond this, making changes to these agreements to enable equal conditions in the market and between countries in the process of enlargement and EU member states.
All these goals are in line with the ideas that are being realized through the Berlin Process, as well as the creation of the "common regional market".
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