American Oda: Economic normalisation between Kosovo, Serbia provides new opportunities for economic development

The agreement on economic normalisation signed in Washington by Kosovo and Serbia, under the mediation of the United States of America, will open up new possibilities for economic development for both countries, as well as for the entire Western Balkans, by improving mutual economic exchange, providing new sources of financing, and by more efficiently using common natural assets.

And the agreement itself will result in accelerating economic growth by promoting domestic investment and attracting foreign investment, as well as creating so much needed jobs.

The American Economic Oda in Kosovo estimates that opening opportunities for financial benefits from the United States' International Financial Finance Corporation (DFC), as well as the EXIM Bank, will enable the development of transport infrastructure, including building the highway of peace and railway ties, which will extend to the Adriatic Sea ports. This would enable Kosovo to reap great economic benefits from its central geographic position in the Balkan region as an important connection point between the states of the region and beyond.

Financial support from the upper institutions is equally important for facilitating financial access to small and medium-sized enterprises, which will have a new source of financing for their growth and development.

The American Economic Oda in Kosovo recognises both the establishment of diplomatic relations between Kosovo and Israel, putting the co-operation between the two states to a new dimension, both in the economic and technological advancement and in the field of academic and cultural exchange.

Through the establishment of railway transport with Serbia, Kosovo will be linked to the international railway network, while companies from Kosovo will be offered the most efficient method of transporting goods, boosting their competitiveness, especially for the production industry.

The American Oda strongly believes that improving road and rail infrastructure will have a key role in promoting freedom of movement of people and goods, while mutual recognition of academic documentation and professional education will, among other things, enable the implementation of service delivery freedom by guaranteeing the mobility of businesses and professionals within Balkan states under the agreement for the <x0mini-Schengen<18x> area. The removal of barriers between states will enable Kosovo's producers and trade companies to expand their presence unhindered across the area.

All in the end, the American Economic Oda estimates that meeting the goals of the upper deal will also inevitably help operate the common border crossing at Merdare, which would speed up border crossing procedures for people and goods by avoiding long expectations and bureaucratic procedures.