Economy ministers from the Western Balkans on Thursday endorsed a sweeping package of regional economic measures coordinated by the Regional Cooperation Council (RCC), marking a major step toward deeper economic integration, competitiveness, and sustainability in the region.
The endorsement came at the Economy Ministers’ Meeting of the Berlin Process hosted by the UK government in London. The new measures, developed under the Common Regional Market (CRM) Action Plan, cover sustainable finance, green industry, investment, tourism, and social policy.
“These documents endorsed today are a huge step towards forming a Common Regional Market and a proof that regional cooperation works,” RCC Secretary-General Amer Kapetanović said. “When we align our efforts, we move from words to action, from plans to tangible progress that brings the Western Balkans closer to the European Union economically, socially, and institutionally.”
The package includes 11 regional initiatives aimed at boosting competitiveness and sustainability, including:
- Coordination of Social Security Systems and Portability of Rights, allowing citizens to move and work freely across the region without losing social rights;
- Western Balkans Green Bond Standard, designed to attract private investment in energy and climate-friendly infrastructure;
- Regional Sustainable Finance Taxonomy Whitelist, defining what qualifies as green investment;
- Financial Literacy Framework, comprising over 600 competencies to improve financial understanding and inclusion;
- Sustainable Foreign Direct Investment (FDI) Toolkit and Policy Recommendations, embedding sustainability into investment promotion;
- Regional Model Clauses on Sustainability and Joint Principles for Investment Facilitation, simplifying procedures and enhancing transparency;
- Tourism Branding Declaration, creating a unified regional identity; and
- Gender-Responsive Green Finance Call to Action, promoting women’s participation in the green economy.
The RCC said the measures build on tangible progress achieved through the Berlin Process, including record-high foreign direct investment of €10.4 billion, a two-thirds increase in intra-regional trade, and the abolition of roaming charges within the Western Balkans. Recent SEPA transactions in Albania, Montenegro, and North Macedonia have also made cross-border payments up to six times cheaper.
“These results show that the Western Balkans no longer prepares for integration – we are practicing it,” Kapetanović said. “Our citizens are already living the benefits of a more connected, open, and competitive region.”
The meeting followed the Berlin Process Business Forum, which featured an “Investing in the Western Balkans” panel co-organised by the RCC and the UK Department for Business and Trade. The discussion gathered investment promotion agencies, UK Export Finance, and investors to explore sustainable investment and clean energy opportunities.
The newly endorsed initiatives will be submitted for approval by regional leaders at next week’s Berlin Process Summit in London. The RCC said they will contribute directly to implementing the EU Growth Plan for the Western Balkans, which aims to double the region’s GDP within the next decade.