Varhely: Common market to accelerate Western Balkans' EU integration

The joint regional market in the Western Balkans will not only contribute to removing obstacles to the regional economy, but also accelerate the region's EU integration, European Commissioner for Enlargement Oliver Varhely praised today.

Addressing the Vienna Economic Forum (VEF), Varhely said the common regional market based on EU standards, which is being established, has great potential.

These are important measures that will facilitate trade, but also free movement of citizens, goods, services, mutual recognition of certificates, diplomas. All this contributes to increasing the region's authenticity for investors, and will also accelerate the region's EU integration,”, he said.

“We are looking at ways to integrate the Western Balkans increasingly into the common European market. In some sectors, we would like the Western Balkans to participate even before countries become members,” the European commissionor stressed.

Varhely said there was no need to explain the importance of the Western Balkans to the economic community in Austria and Central Europe.

He noted that the integration of the entire region is in the interest of the European union.

According to him, the European Commission's clear goal is to speed up the integration process.

Varhely noted that the Western Balkans and the EU are already deeply connected economically, adding that it even meant integrated.

In this direction, he noted that last year, 68% of the region's trade was with the EU and that the EU is a source of more than 60% of foreign direct investment in the Western Balkans.

Such an EU-related region is facing the same problems and is facing the same challenges, such as the pandemic, which led to recession.

To overcome the crisis, he recalled, the EU adopted an investment plan for the recovery of the Western Balkans, designed by its strategy to stimulate growth.

He stressed that he envisions considerable investment in traffic infrastructure, with the aim of removing all obstacles to transport along European corridors.

“We want to connect all the region's capitals with the EU. Our message is clear that the EU offers the best conditions for big investments, not only through grants and soft loans, but, above all, through knowledge transfer when it comes to implementing the project. This is the best way for our partners in the region not to end up with bad loans, as Montenegro,” said Varhely.

Varhely said the goal is to improve energy infrastructure, primarily transition, as well as ensure the security of supply and competitive prices.

The EU, he says, is also helping the Western Balkans accelerate the digital and green transition, which requires significant investments in digital infrastructure.

“We must connect all major high-speed internet cities to improve the region's access to digital services,” he explained.

Varhely welcomed the fact that the Western Balkans lifts the roaming tariffs, assessing that this is a major achievement, which shows that the region can achieve significant results for the good of its citizens. He said they are now working on lowering roting tariffs between the Western Balkans and the EU.

He noted that greater investments in human capital are also planned, remembering that the Investment Plan supports employment policy, better education in line with labour market needs, in hopes it will reduce brain drain from the region.

Varjei said company support is in realising these countries, saying that many who would have to reconfigure their production should think about the Western Balkans, which is offered a nearby place. The EU for production shift.

He also stressed that the EU, in parallel with investments, is working with governments in the region to advance in rule of law, as this is essential in order for investors to offer a sustainable and predictable climate. / KP