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Iosif Vangelatos, Inos Balkan General Manager

Need For Raw Materials On The Rise

The Serbian secondary raw materials industry has undergone a series of transformations over the course of the past 20 years. As the country is...

OTP Banka

Proud Of Generator Zero Project

OTP banka awards two million dinars to Fragment Panels, the New Winning Solution of the 2023 Generator ZERO Competition. Some of the solutions that...

Sanja Pešić, Alma Quattro CEO

Leaders For A Full Three Decades

Next year will be marked by the 30th anniversary of the founding of company Alma Quattro, which enriches its network of advertising media and...

Maja Marić, Owner And Director, Finexpertiza d.o.o.

Always Several Steps Ahead

FinExpertiza, which forms part of one of the world’s leading auditing companies, recently celebrated eight years of successful operations. Alongside auditing, accounting support, legal...

Danilo Savić, CEO, Data Cloud Technology

Reliable Partner To Giants

The state data centre in Kragujevac isn’t the only such centre in the region, but it is among the most modern. It has much...

Branimir Jovanović, Economist At The Vienna Institute For International Economic Studies

The EU And The Western Balkans Still Need Each Other

The importance of the Western Balkans is primarily strategic and political. If the EU pushes the region away, it will turn towards Russia and China, which will bring many challenges for the EU

The troubled relationship between the EU and the Western Balkans comes as no surprise. After all, it seems as though the two sides have nothing much in common except mutual dislike.

The Western Balkans are disappointed by the EU’s broken promises and its constant shifting of the goalposts. They feel that the EU doesn’t really care about the region and views it only as a source of cheap labour that it can exploit even without granting membership.

The EU, on the other hand, isn’t too happy with the Western Balkans’ track record on corruption and is worried about rising authoritarianism in the region, which it sees as being a big problem if the region joins the EU. It also feels like the region is only interested in using the EU as a cash cow.

There’s some truth in those complaints, but the big question is: what happens if the two sides really do split up?

The Western Balkan region is heavily dependent on the EU for trade and investment. The EU buys around two-thirds of the region’s exports, contributes around two-thirds to foreign investments and provides hundreds of millions of euros annually to each of the regional economies through the IPA funds. If the region were to break up with the EU, it could face significant economic consequences.

While the western Balkan region is heavily dependent on the EU for trade and investment, the EU is already reaping basically all the benefits that the region may offer: brains and talented individuals, cheap labour and low taxes

For the EU, the economic incentives are far smaller. It is already reaping basically all the benefits it could from the Western Balkans: it is taking its brains and talented individuals, selling its products on its markets and taking advantage of cheap labour and low taxes. But the importance of the Western Balkans for the EU is not economic. It is primarily strategic and political. If the EU pushes the region away, the region will turn towards Russia and China, which will bring many challenges for the EU.

The EU and the Western Balkans therefore MUST understand that they need each other and that they will both be worse off if they separate.

The EU, as the bigger partner, should take the first step and show that it really cares about the Western Balkans by speeding up the accession process. While granting membership candidate status to Bosnia-Herzegovina and launching accession talks with Albania were good steps, more needs to be done to speed things up for the rest of the region. Moreover, the EU should provide greater financial support to the region, because the current support provided through the IPA funds is not enough to improve living standards.

The Western Balkan region needs to show its commitment to implementing the necessary reforms in areas like combating corruption, upholding the rule of law and promoting democracy and equality. It should demonstrate to the EU that the accession process is viewed as an opportunity to improve Western Balkan societies and provide a better life for citizens, rather than just a way to extract money and enrich corrupt elites. The time is now.

By Zoran Panović

Serbia Divided

Vučić’s calls for “unity” actually represent a call for his supporters to unify. Serbia is a deeply divided society – and two massacres (in...

H.E. Christopher Hill, U.S. Ambassador To Serbia

Mutual Understanding Is The Bedrock Of Community Resilience

Crises remind us to listen and be kind to one another, transcending divisions like politics and embracing our shared humanity Any crisis is a reminder...

H.E. Annika Ben David, Swedish Ambassador To Serbia

Freedom And Inclusion Strength Societies

Culture empowers the dynamic interplay of diversity, human rights and both social and economic cohesion, driven by the creative and cultural industries as drivers...

H.E. Raúl Bartolomé Molina, Spanish Ambassador To Serbia

Cultural Connections Foster Long-term Relationships

Cultural diplomacy operates on the basis of the belief that shared understanding can be nurtured through the promotion of cultural exchange and dialogue, thereby...

Serbia To Celebrate The EU Green Week

Serbia is celebrating the EU Green Week again this year, with a set of events that brings together hundreds...

Elon Musk Reclaims Title Of World’s Richest Person

Elon Musk is once again the world’s richest person after leapfrogging French billionaire Bernard Arnault, after a slump in the...

Argentina’s Candidate Wins Vote To Lead UN Weather Agency

 Argentina's Celeste Saulo was appointed to head the U.N. weather agency on Thursday, a World Meteorological Organization (WMO) spokesperson...

Sweden Likely To Becoming First Smoke-free Country

Sweden has the lowest smoking rate in the European Union, and is likely to be declared a "smoke-free" country...

Serbia’s Foreign Trade In goods In The First 4 Months Was 21.94 Billion Euros

Serbia's total foreign trade in goods for the period January-April this year amounted to 23,632.9 million dollars (23.6 billion...

Serbia To Celebrate The EU Green Week

Serbia is celebrating the EU Green Week again this year, with a set of events that brings together hundreds...

Elon Musk Reclaims Title Of World’s Richest Person

Elon Musk is once again the world’s richest person after leapfrogging French billionaire Bernard Arnault, after a slump in the...

Argentina’s Candidate Wins Vote To Lead UN Weather Agency

 Argentina's Celeste Saulo was appointed to head the U.N. weather agency on Thursday, a World Meteorological Organization (WMO) spokesperson...

Sweden Likely To Becoming First Smoke-free Country

Sweden has the lowest smoking rate in the European Union, and is likely to be declared a "smoke-free" country...

Serbia’s Foreign Trade In goods In The First 4 Months Was 21.94 Billion Euros

Serbia's total foreign trade in goods for the period January-April this year amounted to 23,632.9 million dollars (23.6 billion...

Serbia To Celebrate The EU Green Week

Serbia is celebrating the EU Green Week again this year, with a set of events that brings together hundreds...

Elon Musk Reclaims Title Of World’s Richest Person

Elon Musk is once again the world’s richest person after leapfrogging French billionaire Bernard Arnault, after a slump in the...

Argentina’s Candidate Wins Vote To Lead UN Weather Agency

 Argentina's Celeste Saulo was appointed to head the U.N. weather agency on Thursday, a World Meteorological Organization (WMO) spokesperson...

Sweden Likely To Becoming First Smoke-free Country

Sweden has the lowest smoking rate in the European Union, and is likely to be declared a "smoke-free" country...

Serbia’s Foreign Trade In goods In The First 4 Months Was 21.94 Billion Euros

Serbia's total foreign trade in goods for the period January-April this year amounted to 23,632.9 million dollars (23.6 billion...
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