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Nicolas Marquier, Regional Manager for the Western Balkans at the International Finance Corporation (IFC)

Financing the Future

IFC, the largest global development institution, has provided almost $1 billion in financing to Serbia’s private sector over the past six years IFC, as a...

Dr Ivan Todorović, Todorović Law Firm

Dedicated Advisors and Tenacious Litigators

The Todorović Law Firm has existed for more than 30 years and throughout that time has demonstrated its unwavering dedication to continuously advancing at...

Marija Stojiljković, Founder, Royal Nanny

Children Deserve the Best Nannies

Royal Nanny offers a wide range of childcare services, primarily through mediating between professional nannies and families, providing responsible, meticulous, trained and caring individuals Starting...

Petar Miljković, CEO, 14. Oktobar d.o.o.

Employees are the Company’s Real Strength

This former Kruševac giant, which has come a long way over the course of 100 years of operations, developing from a construction machinery factory...

Ivana Bogdanović, Director of Marketing and Corporate Communications at Addiko Bank

CSR as a Longstanding Priority

In today’s world, where gaining the trust of clients is the most important aspect of a company’s business, CSR, or socially responsible operations, represents...

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.

Comment by Zoran Panović

Diplomatic Twine

German politician Markus Söder promised to support Serbia on its EU journey. According to the German media, Söder is making “diplomatic twine” in his...

Branka Anđelković, Co-founder and Programme Director of the Public Policy Research Centre

An Even Bigger Grey Market?

In the case of workers of the platform employed in food production and passenger transport, the Open Balkan initiative might not contribute to the...

Čedanka Andrić, President of Trade Union Confederation NEZAVISNOST

Increased Competition Between Low-Paid Workers

Considering educational qualification and unemployment structures in Serbia, my opinion is that this measure could only increase the pressure on workers in Serbia to...

Jelena Jevtović, Serbian Association of Employers

Employers Will More Quickly Find Workers

The employing of citizens of these two countries in Serbia could ease the labour shortage problem, but fundamentally resolving it requires education system reform It...

Mobi Bank Becomes Yettel Bank

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Serbia Set to Become Europe’s Top Copper Producer with Zijin Mining Expansion

Zijin Mining has announced plans to increase the annual capacity of its Serbian project to 450,000 tonnes of copper...

ESG Adria Summit Launches in Montenegro

The second annual ESG Adria Summit kicked off today in Tivat, Montenegro, under the theme "Act now for a...

Modine Expands Serbian Operations with New Facility

Modine, a global leader in thermal management technology, has inaugurated a new 18,000-square-metre production plant in Sremska Mitrovica, Serbia,...

Novak Djokovic Wins Laureus Award for World’s Best Sportsman for Record Fifth Time

Novak Djokovic has won the Laureus award for the world's best sportsman for a record fifth time at a...

Serbia’s Gaming Industry Sees Significant Growth and Employment Surge in 2023

In 2023, Serbia's gaming industry earned more than 175 million euros, marking a 17 percent increase from 2022, and...

Maserati’s Balkan Expansion: New Showroom Opens in Belgrade

Delta Auto Group has unveiled an exclusive Maserati showroom in Belgrade, setting new luxury benchmarks in line with the...

Peter Pellegrini Wins Slovak Presidential Election

Peter Pellegrini, the candidate from the ruling coalition, won the second round of the presidential elections in Slovakia, securing...

Strategic Energy Partnership Established Between Serbia and France

The Serbian Government adopted a Memorandum of Understanding between the Government of Serbia and French Electric Power Company (EDF),...

Serbia-France Innovation Forum Begins: Innovate for the Planet! Play Green!

At the Serbia-France Innovation Forum titled 'Innovate for the Planet, Play Green', which commenced at the Palace Serbia, French...

Serbia’s Gaming Industry Sees Significant Growth and Employment Surge in 2023

In 2023, Serbia's gaming industry earned more than 175 million euros, marking a 17 percent increase from 2022, and...

Maserati’s Balkan Expansion: New Showroom Opens in Belgrade

Delta Auto Group has unveiled an exclusive Maserati showroom in Belgrade, setting new luxury benchmarks in line with the...

Peter Pellegrini Wins Slovak Presidential Election

Peter Pellegrini, the candidate from the ruling coalition, won the second round of the presidential elections in Slovakia, securing...

Strategic Energy Partnership Established Between Serbia and France

The Serbian Government adopted a Memorandum of Understanding between the Government of Serbia and French Electric Power Company (EDF),...

Serbia-France Innovation Forum Begins: Innovate for the Planet! Play Green!

At the Serbia-France Innovation Forum titled 'Innovate for the Planet, Play Green', which commenced at the Palace Serbia, French...
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