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Critical for Economic Growth: The Imperative Expansion of the Common Regional Market in the Western Balkans

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CEFTA (Central European Free Trade Agreement) emphasized the importance of expanding the Common Regional Market at the meeting of Western Balkans and European Union leaders in Skopje.

Danijela Gačević, Acting Director of the CEFTA Secretariat, addressed participants in the “Western Balkans and EU” meeting in Skopje, emphasizing the crucial role of CEFTA in advancing the initiative for the Common Regional Market and fostering closer ties between the economies of the Western Balkans and the European Union market.

During the meeting, Gačević reaffirmed CEFTA’s unwavering commitment to enhancing economic integration, trade liberalization, digitalization, and regional cooperation among its members.

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“The implementation of the existing Action Plan for the Common Regional Market and the development of a new one are of vital importance for creating new opportunities, attracting investments, and enhancing cooperation within CEFTA with the EU,” stated Gačević. She added that CEFTA’s activities have been crucial for aligning the economies of the Western Balkans with the principles and standards of the European Union, harmonizing regulations, improving market access, and fostering a business environment conducive to attracting foreign investments.

“The new Action Plan provides us with an opportunity to bring ambitions and innovations into the trade arena, in line with the vision of the New Growth Plan. This synergistic approach not only promotes growth within the Western Balkans but also enhances cooperation with the EU,” Gačević noted, reminding of the achievements so far: “Our joint efforts are directing the economies of the Western Balkans towards the European Union, bringing us closer to the common goal of a more prosperous and stable region.”

CEFTA remains committed to promoting economic growth, expanding trade, and sustainable development in the Western Balkans. As the region continues its path towards EU accession, CEFTA will continue to serve as a catalyst for progress and an advocate for economic integration.

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