Details of the EU project for Balkan economic area

The Commission explains that the area will be based on four pillars: “Commerce, investments, free trade and digital market”.

The regional economic area will extend the CEFTA agreement by including service companies, such as Banks, Insurance Companies or Transportation Companies, which will be able to offer their services in every country of the region without restrictions.

The second pillar of the economic area will be investments. The six Western Balkan countries will agree to create a joint investment area, in which they will include information exchange and will harmonize investing policies.

The third pillar, which foresees free movement, affects citizens directly. Countries will agree to remove any barriers for a free movement for professionals and for recognizing each-other’s professional qualification.

This means that an Albanian dentist will be able to offer services in Belgrade and vice-versa. The final dimension is the digital one, which includes an agreement for roaming and internet services.

This includes protocols for cybernetic security, data protection and will address needs of every country for their digital area.

According to the European Commission, the joint economic area will create 80.000 new jobs and will stimulate the economy.

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