Untapped potential for the economic integration of the Western Balkans - Possible growth of 10% and the creation of 80,000 new jobs

We can see progress in the establishment of a common regional market, which is "a ticket for gradual integration into the single European market", said the Secretary General of the Regional Cooperation Council (RCC), Majlinda Bregu, at the summit on the EU Growth Plan in Kotor, Montenegro.

- The path to greater economic consolidation with the EU market leads through a common regional market unencumbered by any obstacles. The results of the implementation of the common regional market are indicative and show real, concrete and transformative socioeconomic results and developments in the domain of numerous regional programs and policies, but at the same time they also point to the still untapped potential of economic integration that could bring our economies a 10% growth - Bregu said at the meeting in Kotor.

They discussed the region's approach to the European Union through the implementation of the European Growth Plan and the Action Plan for a common regional market.

The leaders of the countries of the Western Balkans expressed their satisfaction with the concrete results of the Action Plan for a common regional market as a driver of inter-regional trade and deeper economic integration in the Western Balkans, the implementation of which was coordinated by the Council for Regional Cooperation - the announcement reads.

- We cannot establish a common regional market in the Western Balkans if human resources are left aside. By encouraging labor force mobility within the region, a significant 1.3% can potentially be added to the GDP by 2025, and 80,000 new jobs can also be created - Bregu estimated.

She added that a favorable and competitive environment can bring an increase in annual growth of 2%, attract 6.5% more investments, increase the growth rate of the number of jobs by up to 1% per year, and bring an increase in the productivity of small and medium enterprises by 5% to 10%.

- The new action plan for the common regional market will therefore be aimed at strengthening human capital and developing skills, and at encouraging digital transformation, enabling a favorable environment for businessmen and increasing competitiveness - Bregu announced.

The Secretary General stated that the RCC, together with all major government institutions and partners, will work to complete the future Action Plan for the Common Regional Market with applicable measures, expected results and realistic deadlines in order to be ready for approval at the upcoming summit of the Berlin Cooperation Process of which RCC is also a part.

The next meeting of the leaders of the six Western Balkan economies on the subject of the Growth Plan will be held in Bosnia and Herzegovina.

Regional Cooperation Council

RCC

Majlinda Bregu

EU Growth Plan for the Western Balkans

Common Regional Market

Action Plan for the Common Regional Market