World Bank addresses Western Balkans
The World Bank has called on the governments of the Western Balkans to deepen relations with the EU and bolster mutual cooperation for the sake of economic growth.
Thursday, 12.06.2008.
12:23
The World Bank has called on the governments of the Western Balkans to deepen relations with the EU and bolster mutual cooperation for the sake of economic growth. In its latest report, the World Bank says that the last decade, particularly the last five years, has been a relatively successful era for the Western Balkan countries. World Bank addresses Western Balkans However, it is now necessary “to enhance and sustain the good growth results,” intensify the battle with poverty and come into line with EU standards, even though the international environment is not at its most favorable currently, the report states. The report, entitled “The Integration of the Western Balkans and the EU, Issues Linked to Trade and Economic Growth”, states that the Western Balkans are a key part of Eastern Europe and are made up of “a large group of diverse countries who are at various stages of EU integration.” Macedonia and Croatia are candidates for EU membership, the report given to Tanjug points out, and states that the Zagreb government has already opened negotiations over EU entry. “The process of stabilization and association is also expected to begin for Kosovo, once its status has been fully settled,” the World Bank says. It adds that bearing in mind the relatively small size of Western Balkan states, an increase in exports is vital, and points to the importance of direct foreign investment to boost the export sector. The report cites as the most important stage in achieving these aims “the need for deeper cooperation between the Western Balkan countries in order for their markets to become more competitive,” while, at the same time, improving the quality and lowering costs in the service industry. The World Bank lays particular emphasis on the measures that need to be taken in regional economies in order to avert energy shortages that could have a negative impact on domestic and foreign investment. World Bank experts stress that their report has been published at an “important historic moment for the region,” and express their hope that it will contribute to “better understanding of the economic dynamics of the West Balkans,” and help to “create an analytical basis for reforms that will hasten the ultimate integration of these countries into the EU.”
World Bank addresses Western Balkans
However, it is now necessary “to enhance and sustain the good growth results,” intensify the battle with poverty and come into line with EU standards, even though the international environment is not at its most favorable currently, the report states.The report, entitled “The Integration of the Western Balkans and the EU, Issues Linked to Trade and Economic Growth”, states that the Western Balkans are a key part of Eastern Europe and are made up of “a large group of diverse countries who are at various stages of EU integration.”
Macedonia and Croatia are candidates for EU membership, the report given to Tanjug points out, and states that the Zagreb government has already opened negotiations over EU entry.
“The process of stabilization and association is also expected to begin for Kosovo, once its status has been fully settled,” the World Bank says.
It adds that bearing in mind the relatively small size of Western Balkan states, an increase in exports is vital, and points to the importance of direct foreign investment to boost the export sector.
The report cites as the most important stage in achieving these aims “the need for deeper cooperation between the Western Balkan countries in order for their markets to become more competitive,” while, at the same time, improving the quality and lowering costs in the service industry.
The World Bank lays particular emphasis on the measures that need to be taken in regional economies in order to avert energy shortages that could have a negative impact on domestic and foreign investment.
World Bank experts stress that their report has been published at an “important historic moment for the region,” and express their hope that it will contribute to “better understanding of the economic dynamics of the West Balkans,” and help to “create an analytical basis for reforms that will hasten the ultimate integration of these countries into the EU.”
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