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Common regional market

A competitive economy in the Western Balkans is good for the region and good for Europe. Yet despite much progress and potential, disparities in the level of prosperity within the region and with the EU remain.

Common regional market

One of the ways of driving economic growth is to improve economic integration. A larger, integrated market is more attractive for foreign investment and a stepping stone for closer integration with the EU.
This was the reason for leaders of the region adopting the Common Regional Market initiative in 2020. Supported by the EU, this builds on earlier achievements of the Regional Economic Area. Greater integration based on EU rules and standards will attract more investment, help address economic fragmentation, and bring the region closer to the EU and its single market.

An Integrated market of 18 million people is more competitive than 6 smaller ones

A common regional market could bring an additional 6.7% GDP growth

Green lanes for goods have reduced waiting times at border crossings by up to 77 440 hours, over 3 200 days, in only the first three months of 2023

*Results for period 2015 to 2020 (Western Balkans Investment Framework)

Ongoing support

Anchored in the EU’s recovery efforts and underpinned by the EU’s Economic and Investment Plan for the Western Balkans (EIP), the Common Regional Market initiative will play a central role in creating a strong economic base to relaunch and modernise the economies of the region.
A strong commitment is also required from the Western Balkans partners to implement reforms, for example in the areas of the rule of law and respect for fundamental rights, and put in place measures to improve the business environment. Meeting EU norms and standards is essential for exporting to the EU.
The Regional Cooperation Council (RCC), the Central European Free Trade Association (CEFTA), the Western Balkan 6 Chamber Investment Forum and the Western Balkans Transport Community play a prominent role in coordinating and supporting the Western Balkans in this endeavour.
Support centres on:

Regional trade area

Enabling the free movement of goods, services, capital and people, including building on the Green Lanes initiative, aligning with EU-compliant rules and standards and providing opportunities for companies and citizens like

Regional investment area

Aligning investment policies with the EU standards and best international practices and promote the region to foreign investors.

Regional digital area

Integrating the Western Balkans into the pan-European digital market.

Regional industrial and innovation area

Transforming the industrial sectors, shaping value chains they belong to and preparing them for the realities of today and challenges of tomorrow.

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